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Bill: Income Tax Proposal (4759)
Details
Submitted by[?]: Liberal Democrats
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: August 4760
Description[?]:
| The Liberal Democrats 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 |
| > 1 LIK | 8% | 11,479,000,000 LIK |
| > 2,500 LIK | 17% | 48,402,000,000 LIK |
| > 7,500 LIK | 33% | 112,707,000,000 LIK |
| > 17,500 LIK | 42% | 49,734,000,000 LIK |
| > 27,500 LIK | 50% | 28,598,000,000 LIK |
Total | 250,920,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 04:19:39, May 22, 2020 CET |
From | Liberal Democrats | To | Debating the Income Tax Proposal (4759) | | Message | We call on coalition members to express their thoughts - keeping in mind that we can make smaller adjustments later. |
| Date | 04:24:24, May 22, 2020 CET |
From | Liberal Democrats | To | Debating the Income Tax Proposal (4759) | | Message | LNP reply:
The only alternative would be to drastically cut spending. If you'd like to propose a plan costing this, then I'm all ears. |
| Date | 04:33:22, May 22, 2020 CET |
From | Liberal Democrats | To | Debating the Income Tax Proposal (4759) | | Message | Noting wrong with it in principle. We in fact already reduced government spending by approx. 15B (~approx. 4% cut) LIK last term. Cutting government spending by an additional 50B LIK would be the equivalent of an additional approx. 14% cut. Government is far from efficient, but in our view such an extreme cut at this time would have severe socioeconomic consequences. |
| Date | 09:44:11, May 22, 2020 CET |
From | Likatonia First | To | Debating the Income Tax Proposal (4759) | | Message | We are not going to cut spending. Anyway we don't have to listen to your party yet and your party has no seats.
Labour will support |
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| Vote |
Seats |
| yes | Total Seats: 100 |
| no | Total Seats: 0 |
| abstain | Total Seats: 0 |
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