2012 Federal Tax Receipts: $2.45 Trillion This is where it falls apart. To implement this program, you would need to double tax receipts. 98% of income taxes,

2012 Federal Tax Receipts: $2.45 Trillion This is where it falls apart. To implement this program, you would need to double tax receipts. 98% of income taxes, which account for about 46% of all receipts, are paid by the top 50% of the population. The median income is around $30k. At that level, about $4050 goes to federal taxes. If we double all tax sources, that would increase the tax burden to $8100. (This is assuming the BI is untaxed.) Effectively, the median would see an extra $5,950/year from this program. People making above $70,000 would start to see their taxes increase more than the $10,000 BI. People with incomes of $200,000 would be paying an extra $35k per year. I think it's an interesting proposal, but with these sorts of increases, you're going to encounter a lot of resistance from upper-middle classes and higher, the sort of people who tend to be much more influential in politics...