3 ms·
How is UBI funded? Through taxes of course. And that means the tax rate will have to be something like the reciprocal of the velocity of money. But when people
by phkahler 3y ago
How is UBI funded?
Through taxes of course. And that means the tax rate will have to be something like the reciprocal of the velocity of money. But when people are handed the money for nothing, and then buy direct from a huge vertically integrated supplier it will have to be taxed 100 percent. The Laffer curve becomes relevant here.
I've never seen even a simple algebraic model of how UBI can possibly work.
- nappingbat 3y agoIn my mind (and possibly in the real world?) it works like this: A company makes a 10% profit after paying huge labor costs, and we tax that profit to pay for our collective needs. The company all but eliminates labor costs with AI, and profits soar to 90%. We tax that profit to pay for our increased collective needs.