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How will the 1000 a month be treated in a fiscal sense? I have close to no knowledge about the US tax system, but I would guess it has some impact. Also, will
by superlopuh 9y ago
How will the 1000 a month be treated in a fiscal sense? I have close to no knowledge about the US tax system, but I would guess it has some impact.
Also, will be interesting to see the difference in results from this study to ones done in countries where healthcare is free or subsidised.
- wavefunction 9y agoThe effective tax rate an individual would face depends on how much income an individual derives from other sources during this time in addition to the basic income, along with their household demographics (number of children, marriage situation). By itself with no other income sources the individual would fall below the US federal poverty level[0] by $60 and would likely qualify for some Earned Income Credits[1] as well as subsidized health care. Adding children or a spouse (especially a working one) will crank the tax rate up or down. Then there is an entire universe of tax complexity having to do with credits and penalties an individual or family might face. [0]https://aspe.hhs.gov/poverty-guidelines https://aspe.hhs.gov/poverty-guidelines [1]https://en.wikipedia.org/wiki/Earned_income_tax_credit https://en.wikipedia.org/wiki/Earned_income_tax_credit