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Bill: Income tax proposal of February 5274
Details
Submitted by[?]: Conservative Party (Whigs)
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 5274
Description[?]:
| Mr. Speaker, The government is proud to announce that next to the liberalisation of the market, we bring tax reductions across the board. This tax overhaul will stimulate our economy, bring economic fortune to everyone and make sure that investments by the well-off get into the economy and not into the pockets of the government. With this tax reform we will gain a surplus of 2,6 billion and finance all our privatisations and public works. Daniël Hardman Chancellor |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 20
Current: 20
Proposed: 10
Article 2
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 |
| > 4,000 LPD | 13% | 11,903,000,000 LPD |
| > 6,000 LPD | 24% | 16,168,000,000 LPD |
| > 8,000 LPD | 35% | 15,678,000,000 LPD |
| > 10,000 LPD | 46% | 42,352,000,000 LPD | Total | 86,101,000,000 LPD |
Debate
These messages have been posted to debate on this bill:
| Date | 13:14:48, March 21, 2023 CET | From | Course of Freedom (Kellins faction) | To | Debating the Income tax proposal of February 5274 |
| Message | Mr. Speaker, I rise today to voice my opposition to the proposal to reduce the tax percentage of the profit made by corporations from 20 to 10. This proposal is misguided and will not bring the economic benefits that the government claims it will. Reducing the tax percentage of corporations is not a guarantee for economic growth. In fact, there is evidence that this type of policy can lead to increased inequality and decreased revenue for the government, which can hurt public services and social programs that benefit the most vulnerable members of our society. Moreover, this proposal is particularly concerning in light of the government's plans to privatize public services and works. It is likely that the benefits of this tax reduction will mainly go to the wealthy elite and corporate shareholders, rather than to the broader population. This is not only unfair, but it will also further increase economic inequality in our society. In addition, the idea that this tax reduction will lead to a surplus of 2.6 billion and finance all privatisations and public works is simply unrealistic. It is important to have realistic expectations when making policy decisions, and the government's projections in this regard are overly optimistic. In conclusion, I urge my colleagues in this house to reject this proposal to reduce the tax percentage of corporations. We need a tax system that is fair and provides adequate funding for public services and social programs, and this proposal does not meet those standards. Thank you. Hanna Hankins, MP. |
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Voting
| Vote | Seats | ||||||
| yes |
Total Seats: 391 | ||||||
| no |
Total Seats: 259 | ||||||
| abstain | Total Seats: 0 |
| Random fact: Periodically, it is a good idea to go through your nation's Treaties and arrange to withdraw from any that are unwanted. |
| Random quote: "Democracy is more dangerous than fire. Fire can't vote itself immune to water." - Michael Z. Williamson |