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Bill: D.d.l. 02/4622 - Returning Money to the People Act
Details
Submitted by[?]: Lega Giusnaturalistica
Status[?]: passed
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will not pass any sooner than the deadline.
Voting deadline: October 4622
Description[?]:
| I, Minister of Finance Teodoro Carraro, on behalf of this government, propose the following tax cuts that will complement our budget cuts that were made necessary by the privatization of industry. This will greatly reduce the burden on the poorest taxpayers, who pay most of their tax in the form of sales tax on essential items. From a 10% rate to a 2% rate, this should help the neediest among us. The fact that we were taxing at a top marginal rate of 65% is completely reprehensible. That level of redistribution, at such a low level of income, truly must end. To make that happen, we simplify the income tax rate scheme and lower rates on middle-income earners. The best part of this proposal is that it brings us to a balanced budget, if conditions remain the same. LG is proud to be a part of this governing coalition, and we are proud to support this act. |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 10
Current: 1
Proposed: 2
Article 2
We propose to alter income tax brackets to the following setup. Information about the current income tax system can be found here.
| Bracket | Tax | Estimated Revenue |
| > 1 LIS | 5% | 2,860,000,000 LIS |
| > 1,000 LIS | 8% | 4,581,000,000 LIS |
| > 2,000 LIS | 10% | 17,062,000,000 LIS |
| > 5,000 LIS | 25% | 46,897,000,000 LIS |
| > 10,000 LIS | 30% | 11,565,000,000 LIS |
| > 12,000 LIS | 35% | 12,930,000,000 LIS |
| > 15,000 LIS | 40% | 27,669,000,000 LIS | Total | 123,564,000,000 LIS |
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | ||||
| yes |
Total Seats: 416 | ||||
| no |
Total Seats: 265 | ||||
| abstain | Total Seats: 0 |
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| Random quote: "Global warmers predict that global warming is coming, and our emissions are to blame. They do that to keep us worried about our role in the whole thing. If we aren't worried and guilty, we might not pay their salaries. It's that simple." - Kary Mullis |