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20% * 300 billion = 60 billion is where they're at now, add on 58 billion to pay for basic income and you've doubled taxes.
by ntumlin 11y ago
20% * 300 billion = 60 billion is where they're at now, add on 58 billion to pay for basic income and you've doubled taxes.
- spangry 11y agoI'm guessing the number would be a fair bit lower when you subtract the savings from abolishing the existing unemployment welfare system (and the cost of administering it). And, in theory, those previously on 'tapering welfare' now face less of a disincentive to work, so there'd be a bump in pretty much any tax revenue base correlated with GDP (i.e. almost all of them). EDIT: Just to give you a sense of what I mean about EMTRs, here's a chart from Australia's most recent tax system review -> http://i.imgur.com/jhRYXiB.png?1 http://i.imgur.com/jhRYXiB.png?1 . The interaction of the tax and welfare system means low income earners face an effective marginal tax rate of almost 80% at certain points of the income range (mostly due to payment tapering).