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You might be interested in an essay I wrote in 2009 which mentions a wealth tax (perhaps with the government insuring and protecting declared wealth): "Basic in
by pdfernhout 9y ago
You might be interested in an essay I wrote in 2009 which mentions a wealth tax (perhaps with the government insuring and protecting declared wealth):
"Basic income from a millionaire's perspective?"
http://www.pdfernhout.net/basic-income-from-a-millionaires-perspective.html http://www.pdfernhout.net/basic-income-from-a-millionaires-p...
We can of course quibble about the details... Mostly just trying to shift the way of thinking and talking about a UBI...
- sokoloff 9y agoThanks for the relevant blog post link. My gut feel is that 6% wealth tax destroys retirement savings and that anything over about 2% in fact does so. (I'm planning on a 3.5% withdrawal rate in retirement, so a 2% additional wealth tax increases by >50% the amount of money I need to squirrel away for retirement. $24K in UBI replaces $685K of that savings need, though almost surely brings along inflation with it and I'm projecting to need a substantial multiple of $1MM to retire.) I also think that UBI in its first version needs to be more like $600/mo/adult. It's going to be austere for sure, but a figure much higher is not supportable (and so DoA when proposed).