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Bill: Taxation Reform of 4740
Details
Submitted by[?]: Conservative Nationalist 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: October 4740
Description[?]:
| The CNP have long wished to reform the nations tax system, and we therefore tax pleasure in it being the first real change we make as we begin our term of office. Let it be the first of many reforms, for the people of Mordusia! The Ministry of Finance wishes to propose the following changes in relation to income tax in our country. We believe these changes are vital, in order for the state to be able to finance new projects such as a uniform, public health service. We wish to be fully transparent. This new tax system will result in a tax increase for some and a tax break for others. This is due to the introduction of a universal National Health Contribution (NHC) that all are obliged to pay for, ensuring appropriate funding towards the service. This is a mandatory contribution that is included as part of income tax. It gives taxpayers the entitlement to access public healthcare services free of charge at the point of use. 1) National Health Contribution: 5% of income on earnings between 25000 - 34 999 MRD 2) Base Rate (+ NHC): 15% of income on earnings between 35000 - 69 999 MRD 3) Advanced rate (+NHC); 30% of income on earnings between 70 000 - 100000 MRD 4) Millionaire Threshold (+NHC) 35% of income on earnings over 100000 MRD This tax system will be followed by a Budget statement. |
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 |
| > 25,000 MRD | 5% | 25,514,000,000 MRD |
| > 35,000 MRD | 15% | 172,882,000,000 MRD |
| > 70,000 MRD | 30% | 131,966,000,000 MRD |
| > 100,000 MRD | 35% | 122,682,000,000 MRD | Total | 453,044,000,000 MRD |
Debate
These messages have been posted to debate on this bill:
| Date | 20:29:33, April 12, 2020 CET | From | Conservative Nationalist Party | To | Debating the Taxation Reform of 4740 |
| Message | we wish to open this bill up for debate immediately |
| Date | 21:16:55, April 12, 2020 CET | From | Social Democrat Party | To | Debating the Taxation Reform of 4740 |
| Message | The SDP recognizes the importance of this legislation. We maintain the belief that the middle-income people of this nation are at the core of our economy, and wish to encourage the CNP to take this into consideration with their tax reform. The SDP believes that the most wealthy in our nation deserve to pay their fair share in income tax. We wish to hear the CNP's view on this subject. |
| Date | 21:24:24, April 12, 2020 CET | From | Conservative Nationalist Party | To | Debating the Taxation Reform of 4740 |
| Message | The finance minister can confirm that although we considered to increase the Millionaire Threshold to 37%, the fiscal benefits were not sufficient for us to go further on the idea. Its worth noting that for many high earners ie, those earning from 70-100K, this is in fact a tax rise, taking into account their NHCs. Therefore we believe this taxation system promotes the idea of those with the most paying a bit more. However we believe it is vital that everyone where possible contributes to the service that everyone is almost certain to use. Thus the new 5% NHC rate for low earners. |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 194 | ||
| no | Total Seats: 0 | ||
| abstain |
Total Seats: 171 |
| Random fact: Particracy does not allow official national flags of real-life nations or flags which are very prominent and recognisable (eg. the flags of the European Union, the United Nations, Nazi Germany, the Soviet Union or the Confederate States of America). |
| Random quote: "It all came from there." - Lech Walesa (pointing to a TV when a reporter asked him why communism fell) |