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Bill: Income Tax Proposal (4765)
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: September 4765
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 | 5% | 5,755,000,000 LIK |
| > 3,000 LIK | 11% | 12,661,000,000 LIK |
| > 5,000 LIK | 16% | 41,377,000,000 LIK |
| > 10,000 LIK | 24% | 41,103,000,000 LIK |
| > 15,000 LIK | 27% | 25,190,000,000 LIK |
| > 20,000 LIK | 31% | 17,639,000,000 LIK |
| > 25,000 LIK | 36% | 14,624,000,000 LIK |
| > 30,000 LIK | 40% | 9,349,000,000 LIK |
| > 35,000 LIK | 44% | 5,604,000,000 LIK |
| > 40,000 LIK | 48% | 1,434,000,000 LIK | Total | 174,736,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 22:20:48, June 01, 2020 CET | From | Liberal Democrats | To | Debating the Income Tax Proposal (4765) |
| Message | This bill will halve our budget surplus to a healthy 2B per annum. The income tax rebate will serve as economic stimulus to drive our GDP over 1T LIK. |
| Date | 22:21:44, June 01, 2020 CET | From | Conservative Republican Party | To | Debating the Income Tax Proposal (4765) |
| Message | We agree |
| Date | 22:23:35, June 01, 2020 CET | From | Liberal Democrats | To | Debating the Income Tax Proposal (4765) |
| Message | Mary Hatcher has stated that what ever happens in the next election, she will retire by 4767 or when she is asked to resign her position as Minister of Finance, whichever is sooner. |
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Voting
| Vote | Seats | |||||||
| yes |
Total Seats: 95 | |||||||
| no | Total Seats: 0 | |||||||
| abstain | Total Seats: 5 |
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