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Bill: Tax Reform Act - Bill C-2
Details
Submitted by[?]: Labour 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: June 5263
Description[?]:
| Article 1: The new rates of income tax will be as follows > 4,001 MRD - 10% > 10,001 MRD - 20% > 20,001 MRD - 25% > 35,001 MRD - 35% > 150,001 MRD - 50% Article 2: Income tax on all businesses with more than 50 employees will be raised to 18% Article 3: Value-added taxation on luxury goods will be raised to 15%. VAT increases will not impact clothes costing less than 50MRD each, personal hygiene products, electric vehicles, or cinema or museum tickets |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 10
Current: 10
Proposed: 18
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 13
Current: 19
Proposed: 15
Article 3
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 |
| > 4,001 MRD | 10% | 33,757,000,000 MRD |
| > 10,001 MRD | 20% | 112,523,000,000 MRD |
| > 20,001 MRD | 25% | 197,700,000,000 MRD |
| > 35,001 MRD | 35% | 665,563,000,000 MRD |
| > 150,001 MRD | 50% | 19,233,000,000 MRD | Total | 1,028,776,000,000 MRD |
Debate
These messages have been posted to debate on this bill:
| Date | 06:55:30, February 26, 2023 CET | From | Labour Party | To | Debating the Tax Reform Act - Bill C-2 |
| Message | We have proposed this tax bill to massively increase revenue that the Westinghouse government cut to fund tax cuts for the wealthy. Our bill will allow us to fund a humane welfare system, implement Medicaid, and fund other aspects of our agenda - Helen Jenkins, Finance Minister |
| Date | 16:13:03, February 26, 2023 CET | From | Green Party | To | Debating the Tax Reform Act - Bill C-2 |
| Message | We once again are going to have to vote against this bill. The tax increases are highest on low- and middle-income people which is unjust in our view. |
| Date | 18:02:43, February 26, 2023 CET | From | Labour Party | To | Debating the Tax Reform Act - Bill C-2 |
| Message | While this bill does increase taxes on middle and lower income citizens, it balances it out with our proposed budget plans, which massively increase the ability of the government to provide services to Mordusians |
| Date | 18:40:15, February 26, 2023 CET | From | Progressive Conservative Party | To | Debating the Tax Reform Act - Bill C-2 |
| Message | This open season approach to middle and lower income Mordusians and vicious anti business approach will only merge to wreck the economy just to allow completely unnecessary and massive spending increases. |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 443 | ||
| no | Total Seats: 0 | ||
| abstain | Total Seats: 157 |
| Random fact: It is possible for a player to transfer ownership of a character or a royal house to another player. This should be done in a public way, such as on the Character Transfers thread, so that if a dispute arises in the future, Moderation can be pointed towards evidence of the transfer. |
| Random quote: "The use of solar energy has not been opened up because the oil industry does not own the sun." - Ralph Nader |