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A UBI based on an income tax is not feasible due to the feedback cycle it would engender. As the UBI goes up the % of people who would make the same or greater
by eikenberry 3y ago
A UBI based on an income tax is not feasible due to the feedback cycle it would engender. As the UBI goes up the % of people who would make the same or greater incomes by quitting and taking UBI would go up. Raising UBI would be extremely popular politically and would go up quickly. This would either drive inflation out of control or erode the income tax base over time until it no longer could support the UBI. Either way it dooms the economy.
- AlchemistCamp 3y ago> As the UBI goes up the % of people who would make the same or greater incomes by quitting and taking UBI would go up. That’s not how UBI works. It’s not tied to quitting one’s job. Anyone working earns income from salary/wages in addition to their UBI. Unlike many existing entitlements, there is never a financial incentive to work less.
- eikenberry 3y agoThat's not what I was saying. I was saying that as UBI goes up in $$$ that more people will hit the point where they can live nicely on just the UBI, where they extra income from working is just not worth it due to the increasing taxes minimizing it's reward factor.