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Bill: Big Reform - Taxes
Details
Submitted by[?]: National Movement
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: May 4851
Description[?]:
| The National Movement propose to adjust the government's income tax policy to better address the economic situation of the Holy Luthorian Empire (Luthori). |
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 LPD | 20% | 28,248,000,000 LPD |
| > 2,500 LPD | 30% | 64,039,000,000 LPD |
| > 7,000 LPD | 35% | 26,245,000,000 LPD |
| > 10,000 LPD | 50% | 43,805,000,000 LPD |
| > 25,000 LPD | 55% | 2,742,000,000 LPD | Total | 165,079,000,000 LPD |
Debate
These messages have been posted to debate on this bill:
| Date | 15:13:15, November 21, 2020 CET | From | National Movement | To | Debating the Big Reform - Taxes |
| Message | Mr. Speaker, The average income (GDP/capita) is of 5000 LPD as of today. That means anyone earning more more than that will be taxed at the highest rate: 55 %. We wish to make the biggest economic reform that Luthori has ever seen on 100 years of history. We hope this reform will increase the GDP and create new jobs. To do this, we will also massively cut public spending. Duke Edward Cromwell, Chancellor of the Exchequer. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 76 | ||||
| no |
Total Seats: 62 | ||||
| abstain | Total Seats: 12 |
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