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Bill: Tax reform proposal of July 4688
Details
Submitted by[?]: People's Reform
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: November 4689
Description[?]:
| The result of this bill will be -318,000,000 in revenue. As part of this package we are also calling for a reduction in the tax rate on luxury goods, from 20% to 15%. We know that the intent, in part, behind the tax rate on luxury goods is to ensure that those with the most wealth are paying more in taxes. The unintended consequence of this tax rate, however, is that only the wealthy are able to afford to purchase luxury goods. So, by lowering the tax rates on the lowest two income brackets, raising the taxes on the top two brackets, and lowering the tax on the purchase of luxury goods by 5 points we believe we take major strides in improving the quality of life of most Luthorians, reaching greater economic equality, while remaining as close to revenue neutral as we can. We are leaving this bill in debate for a period of time so that all members of the Diet and the government may weigh in. |
Proposals
Article 1
Proposal[?] to change Sales tax on luxury goods.
Old value:: 20
Current: 21
Proposed: 15
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 |
| > 500 LPD | 8% | 2,258,000,000 LPD |
| > 1,000 LPD | 13% | 7,338,000,000 LPD |
| > 2,000 LPD | 25% | 14,111,000,000 LPD |
| > 3,000 LPD | 30% | 16,658,000,000 LPD |
| > 4,000 LPD | 40% | 19,479,000,000 LPD |
| > 5,000 LPD | 45% | 19,404,000,000 LPD |
| > 6,000 LPD | 50% | 33,779,000,000 LPD |
| > 8,000 LPD | 61% | 27,410,000,000 LPD |
| > 10,000 LPD | 71% | 65,637,000,000 LPD | Total | 206,074,000,000 LPD |
Debate
These messages have been posted to debate on this bill:
| Date | 18:17:35, December 31, 2019 CET | From | Liberal Party | To | Debating the Tax reform proposal of July 4688 |
| Message | Mr. Speaker, Chancellor Sarah Lewis has the right under her cabinet to put forward a tax plan. We fully support her and this plan. Our MP will gladly vote for it. Chelsea Allen Leader of the SDP Foreign Secretary |
| Date | 18:24:43, December 31, 2019 CET | From | Liberal Party | To | Debating the Tax reform proposal of July 4688 |
| Message | Mr. Speaker, Chancellor Sarah Lewis has the right under her cabinet to put forward a tax plan. We fully support her and this plan. Our MP will gladly vote for it. Chelsea Allen Leader of the SDP Foreign Secretary |
| Date | 18:25:03, December 31, 2019 CET | From | People's Reform | To | Debating the Tax reform proposal of July 4688 |
| Message | Mr. Speaker, We thank Chancellor Allen for her support on this measure and we thank the entirety of the SDP delegation for their support. We have worked hard to find a way to ensure greater economic equality for the people of Luthori in a way that was fiscally responsible. We believe that is what we have accomplished here. We eagerly await feedback from the remainder of the chamber. Sahara Lewis Minister of Finance |
| Date | 16:56:29, January 01, 2020 CET | From | Green Party | To | Debating the Tax reform proposal of July 4688 |
| Message | Mr. Speaker The Green Party supports this tax proposal. Sam Wilson Candidate for Finance |
| Date | 22:16:21, January 02, 2020 CET | From | Socialist Party | To | Debating the Tax reform proposal of July 4688 |
| Message | Mr. Speaker, We do not want to decrease the tax on luxury goods and we will therefore vote no. |
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Voting
| Vote | Seats | |||||
| yes |
Total Seats: 91 | |||||
| no |
Total Seats: 59 | |||||
| abstain | Total Seats: 0 |
| Random fact: Terra, the fictional world in which Particracy is set, consists of 8 continents: Artania, Dovani, Keris, Makon, Majatra, Seleya, Temania and Vascania. |
| Random quote: "If this were a dictatorship, it'd be a heck of a lot easier, just so long as I'm the dictator." - George W. Bush |