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UBI makes 0 sense if one can calculate properly. Almost no nation can be able fund it with current debts they have. It brings cost of Trillions to budget, not p

UBI makes 0 sense if one can calculate properly. Almost no nation can be able fund it with current debts they have. It brings cost of Trillions to budget, not possible with more crazy rich tax. It would make rich move. Exc. Norway, Qatar, UAE and maybe few small others. Only possible in these ones because their wealth funds are by far biggest in the world per citizen already.

bryanlarsen 2y ago
A fiscally balanced UBI is simply one where the average taxpayer receives the same amount of UBI as they pay in extra taxes. In the US the average taxpayer makes $40K, and currently pays $6K in taxes, for a net of $34K. If we add a $1K/month UBI, then under a balanced plan that taxpayer would make $52K and pay $18K in taxes for a net of $34K. That's a tax rate of 35% and is obviously feasible since there are lots of people & places with much higher rates. Similar calculations show that a UBI of $3K per month is not feasible. $1K/month won't cover rent in most of the US but it might be possible to live on it if you live in shared housing and eat nothing but rice & beans.
- al_borland 2y ago
  I don’t understand this. If everyone is getting taxed to the point where they only make $34k, this UBI solution would make everyone poor with no way to work harder, or learn more, to get ahead. This is how black markets to get paid under the table start to form. And if all the UBI is coming from the tax someone pays in, just lower taxes. It would have the same impact without all the extra overhead.
  - bryanlarsen 2y ago
    > . If everyone is getting taxed to the point where they only make $34k Only the average taxpayer gets taxed that amount. It roughly means a 16% tax increase. Somebody making $1M a year would pay $160K extra and get $12K in UBI.
    - al_borland 2y ago
      How is everyone not worse off under this plan? They are being bled dry by taxes and tossed a couple nickels back as UBI. No one would vote for this. The only people who wouldn’t be worse off are people with no income to start with. I assume they’d get some base level $1k UBI. I think Andrew Yang had the right idea, in the limited amount I heard. Tax the cooperations that are using AI or automation to reduce the need for workers. Their costs are going down, while their profits stay high, so capture that and give it to the people who were displaced. Bleeding the middle class, and people in general, doesn’t make sense.

bryanlarsen 2y ago

A fiscally balanced UBI is simply one where the average taxpayer receives the same amount of UBI as they pay in extra taxes. In the US the average taxpayer makes $40K, and currently pays $6K in taxes, for a net of $34K. If we add a $1K/month UBI, then under a balanced plan that taxpayer would make $52K and pay $18K in taxes for a net of $34K. That's a tax rate of 35% and is obviously feasible since there are lots of people & places with much higher rates. Similar calculations show that a UBI of $3K per month is not feasible. $1K/month won't cover rent in most of the US but it might be possible to live on it if you live in shared housing and eat nothing but rice & beans.

al_borland 2y ago
I don’t understand this. If everyone is getting taxed to the point where they only make $34k, this UBI solution would make everyone poor with no way to work harder, or learn more, to get ahead. This is how black markets to get paid under the table start to form. And if all the UBI is coming from the tax someone pays in, just lower taxes. It would have the same impact without all the extra overhead.
- bryanlarsen 2y ago
  > . If everyone is getting taxed to the point where they only make $34k Only the average taxpayer gets taxed that amount. It roughly means a 16% tax increase. Somebody making $1M a year would pay $160K extra and get $12K in UBI.
  - al_borland 2y ago
    How is everyone not worse off under this plan? They are being bled dry by taxes and tossed a couple nickels back as UBI. No one would vote for this. The only people who wouldn’t be worse off are people with no income to start with. I assume they’d get some base level $1k UBI. I think Andrew Yang had the right idea, in the limited amount I heard. Tax the cooperations that are using AI or automation to reduce the need for workers. Their costs are going down, while their profits stay high, so capture that and give it to the people who were displaced. Bleeding the middle class, and people in general, doesn’t make sense.