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The numbers seem to work for the US. A 10% income tax increase redistributed to all US households would be ~$11,000 per household, which is right about what th
by asmithmd1 11y ago
The numbers seem to work for the US.
A 10% income tax increase redistributed to all US households would be ~$11,000 per household, which is right about what the poverty line is for 1 person. If your household makes less than $110k you get a tax cut, above $110k you will be paying more to prevent social unrest.
All numbers in Billions and for 2014
Total earned income $14,700
Total income tax $1,000
--------------------------
$13,700
10% = $1,370
Total US households .125
basic income per household 1370/.125 = $11,000
- Retric 11y agoI think suggestions reduce low income tax breaks and other social welfare programs while introducing a BI. ~11k per year could be close to net tax neutral. EX: A flat tax at the highest rate would adds ~2,745$ to everyone above of the first tax bracket $9,275/yr, next tax bracket is hands out 6,980$, together that's a 9,725$ benefit for everyone making over $37,650/yr already being baked into the tax code. On top of that you get things like HUD, education grants etc. Not to mention the 60+ million people getting Social Security. PS: Not that I think the odds are good in the US any time soon. But, we are facing a lot of systemic issues which could promote a huge range of reforms.
- evanpw 11y agoAn alternative framing: if we doubled the size of the income tax, we could pay each person $4300 / year.