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Bill: Income Tax Proposal (4760)
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: March 4761
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 |
| > 1,000 LIK | 8% | 6,891,000,000 LIK |
| > 2,500 LIK | 17% | 48,409,000,000 LIK |
| > 7,500 LIK | 25% | 53,477,000,000 LIK |
| > 12,500 LIK | 33% | 55,080,000,000 LIK |
| > 20,000 LIK | 42% | 40,874,000,000 LIK |
| > 30,000 LIK | 50% | 19,476,000,000 LIK | Total | 224,207,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 20:52:59, May 23, 2020 CET | From | Liberal Democrats | To | Debating the Income Tax Proposal (4760) |
| Message | LD has noticed a precipitous drop in consumer plus investment spending (C+I) due to higher income taxes. We regret the decision to support the LNP tax cuts and are trying to rectify the situation. We call on coalition members to express their thoughts. |
| Date | 20:56:16, May 23, 2020 CET | From | Conservative Republican Party | To | Debating the Income Tax Proposal (4760) |
| Message | Lower, but reinstate sales taxes to what they were |
| Date | 21:04:49, May 23, 2020 CET | From | Liberal Democrats | To | Debating the Income Tax Proposal (4760) |
| Message | Will put forward. Think we'll give Dem (SD) support and we'll reassess and proceed from there. |
| Date | 21:06:59, May 23, 2020 CET | From | Liberal Democrats | To | Debating the Income Tax Proposal (4760) |
| Message | If the GDP rebounds and we have a net deficit of say 10B (accounting for renewed revenue of about 20-25B from the sales tax), then we can make more micro adjustments afterwards. |
| Date | 21:07:36, May 23, 2020 CET | From | Liberal Democrats | To | Debating the Income Tax Proposal (4760) |
| Message | OOC: get not give |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 57 | ||||||
| no | Total Seats: 25 | ||||||
| abstain | Total Seats: 18 |
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