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Bill: Flat Rate Income Tax Proposal
Details
Submitted by[?]: Conservative Constitutional Unity 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 not pass any sooner than the deadline.
Voting deadline: October 5110
Description[?]:
| The Conservative Constitutional Unity Party propose to adjust the government's income tax policy to better address the economic situation of the Republic of Likatonia (Likatonia). The 30% flat rate income tax will help cover vital services such as Healthcare, and social security. This nex tax system will help middle income families grow and contribute more to the economy. CCUP economic advisors believe this new tax bracket system will increase the consumer spending index in Likatonia as well as increase the quality of life. To help the lower income workers who will see an increase in taxes, the CCUP will support a universal income that will cover their childcare and basic needs. |
Proposals
Article 1
Proposal[?] to change Higher education tuition policy.
Old value:: The government fully subsidizes tuition.
Current: The government fully subsidizes tuition.
Proposed: The government subsidizes higher education tuition to a certain amount, the rest is covered by the individual students. This includes scholarship programs.
Article 2
Proposal[?] to change The nation's policy on minimum wage regulation.
Old value:: There shall be a minimum wage at a level considered a "living wage," well above the poverty line for a full time worker.
Current: There shall be a minimum wage at a level that a single full time worker on it can adequately subsist.
Proposed: There shall be a minimum wage at a level that a full time worker on it can support a family of four without falling under the poverty line.
Article 3
Proposal[?] to change A law on employers' obligations with regards to social security contributions.
Old value:: Payroll contributions are not mandatory but the government grants tax incentives to providers.
Current: Only large enterprises are required to cover payroll contributions for their employees.
Proposed: Only large enterprises are required to cover payroll contributions for their employees.
Article 4
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 | 30% | 146,573,000,000 LIK |
| > 10,000 LIK | 30% | 51,355,000,000 LIK |
| > 15,000 LIK | 30% | 27,974,000,000 LIK |
| > 20,000 LIK | 30% | 17,063,000,000 LIK |
| > 25,000 LIK | 30% | 12,181,000,000 LIK |
| > 30,000 LIK | 30% | 7,010,000,000 LIK |
| > 35,000 LIK | 30% | 3,821,000,000 LIK |
| > 40,000 LIK | 30% | 897,000,000 LIK | Total | 266,874,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
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| Vote | Seats | |||||
| yes |
Total Seats: 298 | |||||
| no |
Total Seats: 202 | |||||
| abstain | Total Seats: 0 |
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