Bill: Draft Balance Tax Changes Act

lcn

Citizen
Representative
Health Department
Commerce Department
Supporter
Willow Resident
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lcn
lcn
representative
Joined
Feb 10, 2024
Messages
88
A
BILL
To

Amend the Taxation Act

The people of the Commonwealth of Redmont, through their elected Representatives in the Congress and the force of law ordained to that Congress by the people through the constitution, do hereby enact the following provisions into law:

1 - Short Title and Enactment
(1) This Act may be cited as the 'Balance Tax Changes Act'.
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Representative lcn.
(4) This Act has been co-sponsored by Deputy Speaker zLost.

2 - Reasons
(1) To combat the growing wealth inequality.
(2) The government has bucketloads of money.

3 - Amendment
(1) The Taxation Act Shall be amended as follows:

4 - Taxation Brackets
(1) Taxation brackets apply to Corporate and Personal Balance Taxes.
(2) The following brackets amounts are inclusive and shall be taxed at the following rates weekly:

Taxation BracketTaxation Rate (%)
$0.00 to $19,999.990
$20,000.00 to $49,999.991
$50,000.00 to $99,999.991.2
$100,000.00 to $199,999.991.4
$200,000.00+1.8

Taxation BracketTaxation Rate (%)
$0.00 to $9,999.990
$10,000.00 to $24,999.991
$25,000.00 to $49,999.991.2
$50,000.00 to $99,999.991.4
$100,000.00+1.8
 
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