Senate Legislation Introduction Thread (New)

[Kuumo]

Nay

This is an important issue that should be left for the people of Lincoln to decide.

[Kuumo]

AN ACT
To provide for tax increases on high incomes

Be it enacted by the Senate of the Republic of Atlasia assembled

Section 1. Title

1. This act may be cited as the Funding a Greater Society Act.

Section 2. Tax Changes

Changes to tax brackets:

                     
 by tax bracket:
 0-13K      10%
 13K-50k    15%                   
 50K-130K   25%                     
 130K-210K  29%  31%                
 210K-413K  34%  38%                           
 413K-441K  36%  40%                       
 441K-2M      40.6% 45%     
 5M-10M 48%
 10M+ 52%

The Wealth Tax Act is amended as follows:

1. Households of a net worth greater than $50 $25 million shall have a 24 %  annual tax imposed on their net worth.
2. A 2% 4% annual surcharge shall be imposed on net worth greater than $1 billion.
3. A 1% 2.5% annual surcharge shall be imposed on net worth greater than $5 $2 billion.
4. A 1% 2.5% annual surcharge shall be imposed on net worth greater than $10 $6 billion.

[Kuumo]

Nay