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Bill: Income tax proposal of March 2327
Details
Submitted by[?]: Leftsocialist Party
Status[?]: defeated
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: November 2327
Description[?]:
| The Leftsocialist Party propose to adjust the government's income tax policy to better address the economic situation of the The Most Serene Commonwealth of Malivia. |
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 |
| > 4,000 MCR | 3% | 5,756,000,000 MCR |
| > 8,000 MCR | 10% | 9,755,000,000 MCR |
| > 12,000 MCR | 20% | 10,824,000,000 MCR |
| > 16,000 MCR | 33% | 16,137,000,000 MCR | Total | 42,472,000,000 MCR |
Debate
These messages have been posted to debate on this bill:
| Date | 02:57:19, December 11, 2006 CET | From | Leviathan Party | To | Debating the Income tax proposal of March 2327 |
| Message | This looks acceptable. We will vote yes pending further study into the issue. |
| Date | 15:07:40, December 11, 2006 CET | From |  Protectorate Party | To | Debating the Income tax proposal of March 2327 |
| Message | This seems to generate more funds then needed with our current spending. When coupled with the luxury tax and corp taxes we have an income of around 52 000 000 000 MPy, yet spending is less then 40. We suggest removing the lowest tier on this proposal. We would be then have around 10% to cover emergency spending or overruns, which is a little higher then we like but reasonable. |
| Date | 15:26:22, December 11, 2006 CET | From | Protectorate Party | To | Debating the Income tax proposal of March 2327 |
| Message | Alternately we can devote some of those funds to encourge and finance the reformation of our urban centers. |
| Date | 15:35:00, December 11, 2006 CET | From | Malivia Democratic Party | To | Debating the Income tax proposal of March 2327 |
| Message | No. You're raising taxes from 3% to 10% on incomes between $4100 to $6000. That is an unacceptable way to treat low income to middle class households. |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 99 | |||
| no | Total Seats: 49 | |||
| abstain | Total Seats: 52 |
| Random fact: Parties have the ability to endorse another party's candidate for the Head of State election (if there is one). This adds a strategic element to the elections. |
| Random quote: "I have no faith in political arithmetic." - Adam Smith |