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Certainly. With a tax-based universal basic income, the vast majority of individuals would be net beneficiaries. As of 2011, an individual paying >$12k/yr in U
by Riseed 11y ago
Certainly. With a tax-based universal basic income, the vast majority of individuals would be net beneficiaries.
As of 2011, an individual paying >$12k/yr in USA federal taxes is in the top 25%. [0] With a basic income of $1k/yr, anyone in the bottom 75% would effectively be receiving a 100% refund of all taxes, not only the funds earmarked for BI.
There is also the option of voluntary basic income systems, which have the advantage of being immediately implementable. [Disclosure: currently developing a voluntary basic income project/study]
[0] Apologies for the outdated info. http://www.fool.com/investing/general/2015/01/31/the-average-american-pays-this-much-in-income-taxe.aspx http://www.fool.com/investing/general/2015/01/31/the-average...