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If there's tax progression, everyone's net income does not go up. That UBI money has to come from somewhere, and it comes from taxes. To fund the UBI, taxes wil
by jusssi 6y ago
If there's tax progression, everyone's net income does not go up. That UBI money has to come from somewhere, and it comes from taxes. To fund the UBI, taxes will need to increase.
So at some threshold level of income, flicking the UBI switch doesn't affect your net income. You get a same size of increase to your tax bill as you gain from the UBI benefit.
Below the threshold you get a net increase, above it you get net decrease. Opinions differ on where that threshold would settle at (because with UBI the state could shut down some other benefits that are currently funded with tax money).
- ohmaigad 6y agoUnless this is applied only to the richest 1%, majority won't support UBI. I think that true UBI is something that is given to everyone (even the 1%) and everything else is abolished (unemployment, paid sick leave, pensions and all other social security benefits).
- lonelappde 6y agoUBI instead of welfare is a libertarian theoretical that isn't gorunded is people's real life concerns or particularly relevant to realpolitik.
- CuriousSkeptic 6y agoThis, and the other comment about rents going up, is why you should tax rent and not income.
- aspenmayer 6y agoI have never heard of this concept, but I kind of like it on its face. Can you elaborate?
- CuriousSkeptic 6y agoJust an extension of the land value tax really. See https://en.m.wikipedia.org/wiki/Henry_George https://en.m.wikipedia.org/wiki/Henry_George