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Bill: Income tax proposal of August 5158
Details
Submitted by[?]: Institutional Party (IPoK)- Orthodox
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: April 5159
Description[?]:
| The Institutional Party of Kalistan (IPoK) propose to adjust the government's income tax policy to better address the economic situation of the The Empire of Ananto and Kalistan (Kalistan). |
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 KRB | 1% | 25,533,000,000 KRB |
| > 45,000 KRB | 8% | 187,761,000,000 KRB |
| > 90,000 KRB | 15% | 245,867,000,000 KRB |
| > 135,000 KRB | 21% | 181,521,000,000 KRB |
| > 180,000 KRB | 26% | 128,077,000,000 KRB |
| > 225,000 KRB | 31% | 70,825,000,000 KRB |
| > 270,000 KRB | 35% | 44,612,000,000 KRB |
| > 315,000 KRB | 38% | 12,396,000,000 KRB |
| > 360,000 KRB | 41% | 20,581,000,000 KRB | Total | 917,173,000,000 KRB |
Debate
These messages have been posted to debate on this bill:
| Date | 23:16:15, August 01, 2022 CET | From |  Institutional Party (IPoK)- Orthodox | To | Debating the Income tax proposal of August 5158 |
| Message | His Imperial Majesty's Government has approved an overhaul of Income Taxes, to significantly cut them. This bill not only cuts income taxes by K1.6 Trillion, from K2.5T to K900B, but it will lead to a significant cut in overspending, encouraging frugality in Government Budgets, and allowing Kalistanis to keep more of their own money. The Emperor has ensured that it is gradually progressive, so it is not too punitive toward any bracket and ensures all groups, save the lowest, a tax cut. The Emperor has ordered the Government to begin taking steps to reform currency reserves in the National Bank, to begin soaking up excess currency in the system. If, as a result of the tax cuts, the Empire experiences an inflationary spike, the Emperor will authorize a reissue of Kalistani Currency, cancelling the Ruble currently in use, which is a vestige of the Republican Era. The Emperor has expressed his opposition to eliminating the K1 tax bracket, because it is the position of the Emperor and therefore also of this Government that ALL Kalistanis should contribute to the maintenance of this State. It is not a great burden for those who earn money to contribute even 1 percent of their income to the maintenance of their society, though asking them to do noting frees them of all responsibility to the society whose roads and police and regulation nonetheless benefits them. The Institutional position of Kalistan is that ALL contribute, through tax contribution and National Service, so that all may benefit. This will be the first of a series of financial Reform Bills from The Ministry of Finance. By Command of His Imperial Might, Emperor Fredrick I Ananto Bruce Norris, Minister of Finance, Empire of Ananto and Kalistan PS: The Tax Profile of this bill is available at https://i.imgur.com/i008Avb.png |
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Voting
| Vote | Seats | |
| yes | Total Seats: 79 | |
| no | Total Seats: 0 | |
| abstain | Total Seats: 0 |
| Random fact: When your party holds the foreign affairs department, you can create new treaties. However, before writing anything new, it is a good idea to search for existing treaties which already accomplish what you desire. |
| Random quote: "Freedom is not worth having if it does not connote freedom to err." - Mahatma Gandhi |