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Of note BI is assumed to replace social security so someone making 50-80k may effectively pay significantly less in taxes prior to retirement but receive far fe
by e40 13y ago
Of note BI is assumed to replace social security so someone making 50-80k may effectively pay significantly less in taxes prior to retirement but receive far fewer benefits in retirement.
This is why I think BI doesn't have a very good chance in the US. The AARP is a very powerful lobby and their members wouldn't go for a reduction in benefits after retirement.
- prawn 13y agoDo you have voluntary contribution schemes for retirement in the US? e.g., That $80k retiree could've been pumping money into investments designed to top up their BI once they retire?
- sstrudeau 13y agoYes, there are a number of voluntary, tax-privileged retirement savings options, some of which may only be provided by employers, but not all employers provide (e.g. 401k/403b).