Bill: Draft Equitable Income Act

[EATB]

A
BILL
To

Amend the Taxation Act and the Universal Basic Income Act to Equitably Redistribute Upper Bracket Balances to help New Arrivals and Tradesmen, and revitalise the Banking Industry​

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 'Equitable Income Act'.

(2) This Act shall be enacted immediately upon its signage.

(3) This Act has been authored by EATB.

(4) This Act has been co-sponsored by RealImza.

2 - Reasons
(1) The rates offered by the Universal Basic Income Act have not been adjusted since January 12th 2025, where since then a very large amount of new players have joined the server since, and the dollar has experienced inflation and devaluation. By simultaneously raising taxes and Universal Basic Income to new players, new players will have access to more adequate capital to start jobs, businesses, and earning more money, and afford the expensive exam fees.

(2) Taxing Upper Bracket Balances higher would encourage recovery in the Banking Industry, with wealthy players being greater incentivised to move their balances legally into a Financial Institution, fuelling recovery necessary in an economy ravaged by financial crisis and yearning for recovery.

(3) The government would benefit from additional income following the consequences of the financial crisis and the previous balance tax reduction.

3 - Amendments:

(1) §4.2 of the 'Taxation Act' shall be amended as follows:

" (2) The following bracket amounts are inclusive and shall be taxed at the following rates weekly:

Taxation Bracket	Taxation Rate (%)
$0.00 to $99,999.99	0.0
$100,000.00 to $199,999.99	1
$200,000.00 to $299,999.99	1.2
$300,000.00 - $499,999.99	1.4
$500,000.00+	1.8

Taxation Bracket	Taxation Rate (%)
$0.00 to $99,999.99	0.0
$100,000.00 to $199,999.99	1.1
$200,000.00 to $299,999.99	1.3
$300,000.00 - $499,999.99	1.5
$500,000.00+	2.0

(2) §3 of the ‘Universal Basic Income Act’ shall be amended as follows:

(1) For every 15 minutes of playtime, player’s holding “Profession” and “Regular” jobs shall be paid $20 $25 from the DCGovernment balance. This will not stack with other salaries. The Executive may choose to increase or decrease the disbursement amount, but may not go under $10/15 mins.
(a) Players who have joined the server less than two weeks ago shall receive $15/15min $20/15min from the DCGovernment balance, unless otherwise receiving a wage from another occupation.