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1.) We'd have to implement it so that starting somewhere on the pay scale, taxes increase so that by some point you pay back to full $10k you received. Naively
by malyk 11y ago
1.) We'd have to implement it so that starting somewhere on the pay scale, taxes increase so that by some point you pay back to full $10k you received. Naively: $25k income you pay back $1000 of the $10k in taxes at $50k, pay back $2500, etc. That way you, making over $100k, essentially get $0 basic income by the end of the year.
2.) You probably have to say "everyone over 18 gets $10k, each child up to 3 per family gets $2k"...or something similar. Getting $10k per child creates some crazy incentives. (2010 there was roughly 70m people under 18, so it's only $2.38 trillion! ;)
3.) You can probably remove a ton of welfare programs if you do this, but not all. You can't completely remove the safety net, but a lot few people should have to be serviced by said net.
- ultramancool 11y ago> Naively: $25k income you pay back $1000 of the $10k in taxes at $50k, pay back $2500, etc. That way you, making over $100k, essentially get $0 basic income by the end of the year. If I recall correctly about 50k is median income for the working population, so you're still paying most of your population at least $5000. And that's just the currently working population, there are so many non-working adults who will also want the free money, I can envision the divorces being had for an extra $10k right now... the incentives this creates are very bad.