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Even 100% tax rate is not enough to pay for a meaningful UBI, even in the US. You will have to take major budget cuts somewhere. Suppose we tax Forbes 500 at 1
by AstralStorm 9y ago
Even 100% tax rate is not enough to pay for a meaningful UBI, even in the US. You will have to take major budget cuts somewhere.
Suppose we tax Forbes 500 at 100% level and the companies too. That would provide about 2 billion USD a year. Divided by population it will be less than $2k a person yearly.
Suppose you tax top 10%, I'd expect that to double this number. Still way not enough.
And we're not even close to military budget.