Last week, Congress started a vote for changes with taxing of upper bracket balances. So far, 70% of the voters (7), vote FOR this change, making it very likely to pass and be implemented onto the society of Redmont.
More in particular, this change aims to help newer players with balances less than $100,000 have a better life in Redmont, while richer people are taxed more in order to help ‘fund’ the efforts of the former.
For players with a balance up to $99,999, taxation remains at 0%, but weekly income increases, for those with a ‘Profession’ or ‘Regular’ job, from $20 to $25. Additionally, players who have joined the server less than two weeks ago shall receive an income of $20 every 15 minutes, in contrary of the $15 it was before.
As for players with balances over $100,000, taxation rate changes range from 7.1%, all the way up to 11.1%. More specifically, players with a balance between $100,000 and $199,999 will be taxed 1.1% (10% increase from 1% tax rate). Things seem to get better when it comes to tax rage changes for players with a balance of $200,000 to $299,999 and those with $300,000 and $499,999, but those with a balance of over half a million RMD are the ones affected the most.
To put it in perspective, those in the $200,000 and $299,999 balance range will be taxed 1.3% (8.3% increase from 1.2% rate), and those in the range of $300,000 and $499,000 will be taxed 1.5% (7.1% increase from 1.4% rate).
But, for those with a balance of $500,000+, we see an increase of 11.1% (!), from 1.8% to 2% rate.
Also, it was noted that the rates that were offered by the UBI (Universal Basic Income) Act have not been changed since January of this year, and ever since many players have joined, alongside the inevitable inflation of the RMD.
Read full Act here.
