Taxes
Hockay levies two taxes in Looneys: a wealth tax on the largest holdings, and a dormancy tax on citizens who stop turning up. Both feed the same pot, and the pot is handed back to everyone who shows up.
The Consultation on Taxation
Section titled “The Consultation on Taxation”The wealth tax was first filed with a simple rule: a tenth, taken from the ten largest balances. In August 2026 Le Council put the shape of it to a consultation instead of writing a new rule alone. The roll closed on 20 August and carried three answers:
- Wealth means everything a citizen holds. Looneys in hand, Looneys committed to a wager that has not settled, and shares. This was the clearest of the three, and it was not close.
- It falls in bands. The ten-largest rule is retired.
- An unpaid assessment is settled by S.L.U.S.H. selling shares. This one led a field of three without a majority. Le Council enacted it anyway, and recorded that it “led rather than triumphed.”
The numbers were never on the ballot. Le Council set those itself.
What you are assessed on
Section titled “What you are assessed on”Your net worth, measured the way the consultation said to measure it:
- Looneys in hand.
- Committed elsewhere—Looneys on wagers that have not settled, bonds on live petitions, and halves sitting in la Glacière at Le Marché Gelé. Parking money in escrow does not hide it.
- Shares, at what they would fetch—what S.L.U.S.H. would pay for them today, net of brokerage. Not the price on the board.
That last line changed every net worth in Hockay on 20 August, before anyone paid a Looney. The board shows what the last share changed hands for. A citizen selling a large holding walks the price down the whole way and collects far less. Le Council now reports what the sale would actually raise. The net-worth leaderboard reads the same figure.
A great many net worths will read smaller this morning. Nothing has been taken. Nothing has been sold. The instrument was wrong and is now right.
The line and the bands
Section titled “The line and the bands”The line sits at 1% of everything held in Hockay. Below it, a citizen is not assessed at all. “Most citizens never will be.” The line is a proportion, not a figure, so it moves as the league grows.
Above the line, the rate rises in bands and is charged only on the portion inside each band. Crossing into a higher band never costs more than it gained. There is no cliff.
| Share of everything held | Rate per matchday, on that portion |
|---|---|
| Below 1% | Nothing |
| 1–5% | 0.07% |
| 5–15% | 0.17% |
| 15% and above | 0.34% |
The assessment is made every matchday. It goes into the pot that is split, every day, among every citizen who claimed their daily reward. Both sides show on the ledger: Wealth Tax going out, Wealth Tax Redistribution coming in.
When Looneys don’t cover it
Section titled “When Looneys don’t cover it”Le Council counted before it wrote the rule and found that almost no large holding is held in Looneys. Being assessed for more than you can pay is ordinary.
If your balance covers the assessment, it is taken and that is the end of it. If not, the rest stands as an outstanding assessment. A notice appears at the top of every page for as long as it stands:
… Ⱡ outstanding. S.L.U.S.H. settles on Tuesday.
Until then, it is yours to clear. Sell whatever you like, or press Settle now.
Tuesday
Section titled “Tuesday”The sale happens once a week, on Tuesday. S.L.U.S.H. settles in this order:
- Looneys first. Anything in hand goes before a single share is touched.
- Then shares, in the order you instructed, sold into the pool at market. They return to open ice, where anybody may buy them. No single sale takes more than a quarter of a team’s reserve. What that cap holds back is raised from the next team.
- Then it stops. What your Looneys and shares together cannot raise is written off.
It is not carried, not recorded against you, and not pursued.
The standing instruction
Section titled “The standing instruction”You choose which shares go first. Four instructions, changeable at any hour. The page previews what each would sell at today’s prices:
- The dearest first. Fewest shares disturbed. This is the default.
- The cheapest first. Keeps the valuable holdings and sells more of the rest.
- The largest position first. Evens you out and keeps a spread.
- The smallest position first. Keeps your flagship whole for as long as possible.
A citizen who is assessed and has not chosen is asked to, on every page, under Instruction required: “You have not told S.L.U.S.H. which shares to sell first.”
The history
Section titled “The history”Your page keeps your recent assessments, each marked Settled, Outstanding or Written off.
The dormancy tax
Section titled “The dormancy tax”Unchanged by the consultation. Ten percent of your Looneys, taken from any citizen who has not claimed a daily reward in seven days. It goes into the same pot.
Staying away longer has a separate consequence for shares. See forfeiture.
What does not change
Section titled “What does not change”- Nobody is asked to divest. Le Council orders no holding unwound and no team handed over.
- The redistribution is a daily ritual, and Le Council is not going to interrupt it.
- The register is public. “Anybody who wishes to count may count.”
See also
Section titled “See also”- Economy & betting—where the Looneys come from in the first place.
- The Exchange—the shares S.L.U.S.H. sells, and why the pool is shallow.
- Petitions & consultations—how the citizenry shaped this rule.
- Donations—the other way Looneys move between citizens.