Tax Act

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The Tax Act was a Liberalian law. It has since been repealed.

[edit] The Bill

Tax Act REPEALED 14 September 2006

This act will replace all and any tax acts beforehand with which it would be incompatible.

The new income tax will be a flat rate of 30% on any earnings higher than 20,000 WW$ETIS pa.

This will stimulate the economy and make it more competitive as people will be more incentivised to earn higher amounts, knowing that taxes will not increase proportionally.

It will also aim not to be too hard on the poor, by letting them earn up to £20,000 WW$ETIS pa. without paying any tax. This will ensure that those at the bottom of the social ladder can move up the social ladder and will thus reduce poverty.

In combination with the recent bills regarding the increase in minimum wage, this bill will help to rejuvenate WWSETI's economy and help the poor.

This act will benefit both the poor and the rich and unlike progressive tax systems, will not discourage people from earning a lot of money.

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