Act of Congress Balance Tax Reduction Act

[chaos_canadian]

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 Reduction Act'.
(2) This Act shall be enacted immediately upon its signage.
(3) This Act has been authored by Rep. Chaos_Canadian and Sen. Vernicia.
(4) This Act has been co-sponsored by Sen. Vernicia.

2 - Purpose
(1) To end the perpetuating wealth inequality.
(2) Stop the unjust enrichment of the Government from the People.
(3) Allow new players to make businesses and thrive as entrepreneurs and consumers, injecting growth into the economy.

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

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

Taxation Bracket	Taxation Rate (%)
$0.00 to $19,999.99	0
$20,000.00 to $49,999.99	1
$50,000.00 to $99,999.99	1.2
$100,000.00 to $199,999.99	1.4
$200,000.00+	1.8

Taxation Bracket	Taxation Rate (%)
$0.00 to $49,999.99	0
$50,000 to $99,999.99	1
$100,000.00 to $199,999.99	1.2
$200,000.00 to $399,999.99	1.4
$400,000.00+	1.8

 

[lcn]

Presidential Assent

This bill has been granted assent and is hereby signed into law.