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Re: Cost. Here is one attempt to describe how to pay for it without raising any income taxes: https://medium.com/economicsecproj/how-to-reform-welfare-and-taxes
by jostylr 8y ago
Re: Cost. Here is one attempt to describe how to pay for it without raising any income taxes: https://medium.com/economicsecproj/how-to-reform-welfare-and-taxes-to-provide-every-american-citizen-with-a-basic-income-bc67d3f4c2b8 https://medium.com/economicsecproj/how-to-reform-welfare-and...
My personal preference, very different from the above article, would be for a wealth tax that helps keep capital flowing, sort of like a company's dividend going back to investors. We the people are the investors in the wealthy's endeavors that led to that wealth. They keep the bulk, but they pay back some to all of us. If they don't make productive use of the wealth, something that benefits others, then their wealth slowly falls until they are like the rest of us.
By some measures of the wealth of the US, we have 100 trillion dollars in wealth and so 4% wealth tax would fund a 13k per person (including children) UBI.