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Well, I think it's quite meaningful - it's the amount of money the government would have to raise to pay for this, compared to what they raise now. I bring it u
by trothamel 8y ago
Well, I think it's quite meaningful - it's the amount of money the government would have to raise to pay for this, compared to what they raise now. I bring it up because the revenue side seems like the harder half of the basic income equation, and the one that's more neglected.
It looks like the highest marginal tax rate in the UK is 45%. You could raise that higher, of course - but it's not clear how much, and if doing so would actually raise revenues - where the UK is on the Laffer curve.
https://en.wikipedia.org/wiki/Laffer_curve https://en.wikipedia.org/wiki/Laffer_curve
(Clearly, if you raised it to 100%, it would lower revenue - you can't tax the rich if you don't have rich people anymore. And if you're at 45%, how much higher can you go?)