4 ms·
The idea isn't to let everyone live at median income with no job. Most would suggest that the basic income level could be set below current minimum wage, more l
by sambe 9y ago
The idea isn't to let everyone live at median income with no job. Most would suggest that the basic income level could be set below current minimum wage, more like current unemployment benefits + basic subsidies. That would probably be more around your $10k figure? You say this still doesn't work; perhaps that's true. It's not inconceivable that some tax rises would be palatable in exchange for this freedom. There may also be savings by eliminating other social benefits in exchange for this payment. Sure, eliminating social security etc would mean this income paid for very basic lifestyle, but you still have 40 hours in the week to do with as you please. The bigger questions for me are labour force participation and (present day) price inflation
- atemerev 9y agoEven 100% tax rates (the total fully dictatorial income redistribution) will not be enough. And, of course, not needed, since it will make the economy uncompetitive (Soviet block countries learned this the hard way).