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Bill: Income tax proposal of October 4668
Details
Submitted by[?]: Democratic-Social Party
Status[?]: passed
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will pass as soon as the required yes votes are in, or will be defeated if unsufficient votes are reached on the deadline.
Voting deadline: June 4669
Description[?]:
| The Democratic Party of Likatonia propose to adjust the government's income tax policy to better address the economic situation of the Federal Republic of Likatonia. |
Proposals
Article 1
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 |
| > 700 LIK | 10% | 1,726,000,000 LIK |
| > 1,000 LIK | 15% | 6,041,000,000 LIK |
| > 1,700 LIK | 19% | 36,074,000,000 LIK |
| > 5,000 LIK | 23% | 17,203,000,000 LIK |
| > 6,300 LIK | 27% | 49,607,000,000 LIK |
| > 10,000 LIK | 30% | 70,239,000,000 LIK |
| > 18,000 LIK | 35% | 44,770,000,000 LIK |
| > 30,000 LIK | 37% | 13,369,000,000 LIK |
| > 40,000 LIK | 42% | 1,257,000,000 LIK | Total | 240,286,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 05:05:18, November 22, 2019 CET | From | Democratic-Social Party | To | Debating the Income tax proposal of October 4668 |
| Message | No one likes tax increases, but they are necessary in order to fulfill our duties without going into deficit and debt. Otis White Finance Committee Chair |
| Date | 21:23:36, November 22, 2019 CET | From | Social Green Party | To | Debating the Income tax proposal of October 4668 |
| Message | This plan only increases taxes on lower-income families and does not increase taxes on those making over 18k a year. Therefore the SGP is against this proposal. |
| Date | 03:09:26, November 23, 2019 CET | From | Democratic-Social Party | To | Debating the Income tax proposal of October 4668 |
| Message | Unfortunately SGP, high-earning families are already paying almost half of their salaries in taxes, so it was not fair to increase taxes for them. However, these tax increases will help address issues that affect low-income families. Otis White Finance Committee Chair |
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Voting
| Vote | Seats | |||||
| yes | Total Seats: 419 | |||||
| no |
Total Seats: 25 | |||||
| abstain |
Total Seats: 231 |
| Random fact: References to prominent real-life persons are not allowed. This includes references to philosophies featuring the name of a real-life person (eg. "Marxism", "Thatcherism", "Keynesianism"). |
| Random quote: "I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it." - Thomas Jefferson |