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Bill: Tax Reduction Act
Details
Submitted by[?]: United Workers Union ♾️
Status[?]: defeated
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: January 5364
Description[?]:
| Title: Tax Reduction Act Sponsor: Jacob S. Ingram, Co-Founder of Independents for Change Overview: The Tax Reduction Act, presented by Jacob S. Ingram, Co-Founder of Independents for Change, represents a bold approach to fiscal policy aimed at stimulating economic growth, reducing the burden on businesses, and fostering a more decentralized approach to taxation. This legislation seeks to empower individuals, local governments, and the economy by lowering corporate taxes, reducing sales taxes on luxury goods, and devolving the taxation of religions to local authorities. Key Provisions: 1. Reduction of Corporate Tax: The bill proposes a significant reduction in the corporate tax rate from 33% to 13%. This substantial cut is designed to incentivize business growth, attract investments, and spur job creation, ultimately contributing to a more vibrant and competitive economy. 2. Sales Tax Reduction on Luxury Goods: The act calls for a substantial reduction in the sales tax rate on luxury goods, dropping it from 20% to 2%. This change aims to provide tax relief to consumers while encouraging spending on high-end products, which can benefit local businesses and the economy. 3. Local Taxation of Religions: The Tax Reduction Act devolves the taxation of religious institutions to local governments. This change allows local authorities to determine how and to what extent religious organizations are taxed, promoting local decision-making and flexibility in taxation policies. Rationale: Jacob S. Ingram, a co-founder of Independents for Change, sponsors the Tax Reduction Act with the conviction that lower taxes, especially on businesses, can lead to increased economic activity and prosperity for all citizens. By reducing corporate taxes and sales taxes on luxury goods, the legislation aims to create a more business-friendly environment, stimulate consumer spending, and foster economic growth. Additionally, devolving the taxation of religions to local governments reflects a commitment to decentralized governance, enabling local communities to tailor taxation policies to their unique needs and circumstances. Jacob S. Ingram and Independents for Change invite robust discussion on these tax reforms, emphasizing their potential to invigorate the economy and empower local decision-making. They envision a Baltusia where businesses thrive, consumers have greater purchasing power, and communities have a say in how they are governed. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 33
Current: 70
Proposed: 13
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 20
Current: 45
Proposed: 2
Article 3
Proposal[?] to change
Taxation of religious institutions.
Old value:: Recognized religions are not taxed.
Current: Recognized religions are not taxed.
Proposed: Religious taxation policy is left to the local governments.
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
| Vote | Seats | |||
| yes | Total Seats: 90 | |||
| no | Total Seats: 210 | |||
| abstain | Total Seats: 0 |
| Random fact: Did you know you can change the official name of your nation? All you need to do is draw up a new name that is in accordance with the Nation Renaming Guide, pass a bill proposing the name change with a two-thirds majority and then post a request to Moderation on the "Renaming Requests" thread. You can change city and region names in this way too. |
| Random quote: "Changing the way we measure things is vital. So is decompartmentalising society making sure that economics and politics are not divorced from other crucial areas of life." - David Attenborough |