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No. Universal Basic Income is ‘Universal’, meaning there’s no qualification to receive it. Basically it’s flat and it goes to everyone equally, rich and poor.
by eksu 9y ago
No.
Universal Basic Income is ‘Universal’, meaning there’s no qualification to receive it. Basically it’s flat and it goes to everyone equally, rich and poor.
A negative income tax is a progressive tax system that starts off in the negatives and works itself up as you move up in brackets or (ideally) on a smooth curve or line.
- mbesto 9y ago> A negative income tax is a progressive tax system that starts off in the negatives and works itself up as you move up in brackets or (ideally) on a smooth curve or line. But if UBI says you get $30k/year in gross income and then if you choose not to do UBI, then you pay taxes on your income, isn't that essentially the same thing? Because if you get $30k/year in income from UBI, it wouldn't make any sense to tax an income that comes from taxes...right?
- WorldMaker 9y agoSome theories of UBI believe UBI may only work if it is taxable income. Those theories include some sort of assumption that the defining characteristic of a fiat currency is it's value to pay taxes, so the way to control (hyper-)inflation is continue to set the value of the currency in tax policy. From that perspective the taxable portion of the income becomes a "year long loan" and that loan amount is useful to set expectations (versus interest/inflation) on the value of the overall UBI.
- balfirevic 9y agoNegative income tax is not necessarily progressive tax system (as that word is commonly understood), and negative income paid to you by the state is not a "bracket". It is pretty much the same thing as UBI, when you look at the numbers.