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>raising the income for everyone will raise housing prices for everyone This is a truism but incorrect in the context of this conversation. UBI does not incre
by billmalarky 9y ago
>raising the income for everyone will raise housing prices for everyone
This is a truism but incorrect in the context of this conversation.
UBI does not increase incomes for everyone. It is a wealth redistribution. Many will see their income fall, especially initially, in order to prop up the incomes of the poor and those who decide to live solely off UBI.
- bduerst 9y agoUniversal Basic Income (UBI) at it's core increases income for everyone - universally. What you're thinking about is a negative income tax or some other BI that is disproportionately weighted.
- tangent128 9y agoA universal income increase is not a universal net income increase, if taxes on non-UBI income become more progressive at the same time.
- billmalarky 9y agoAt a glance (and because of the name) it appears that way, but it does not universally increase income, it gives everyone universal access to basic income. Many people (the wealthy) will have their net income (income after taxes) go down considerably in a UBI system. For example, everyone gets $12k a year in UBI income, however funding such a system will require a fairly stiff tax increase (this is how the wealth redistribution will occur), so for high earners, their $12k in UBI will be negatively offset by the increase in taxes. As an extreme example, someone earning $1MM annually will get the $12k UBI same as everyone else, but an (example) increase in the top income bracket from 39.6% to 60% will cause them to pay $118646.4 more in taxes resulting in their net income under a UBI system to go down (-$118646.40 taxes + $12000 ubi) $106646.40.
- bduerst 9y agoThe top income bracket is 3% of the population. You're still increasing the income of 97% of the population, which is what causes inflation on income-elastic prices like housing.