4 ms·
I support this idea in theory although I would need to see calculations of possible levels of universal income and tax rate in a given economy to fully support
by josephlord 13y ago
I support this idea in theory although I would need to see calculations of possible levels of universal income and tax rate in a given economy to fully support it.
The interesting thing is that with a generous universal income and a fairly high rate of tax (e.g. 45%) you would naturally get a really quite progressive tax and benefit system without the complexity of many thresholds that currently exist. It actually makes the idea of a 'flat tax' actually work and not be ridiculously unfair.
It would also enable people not to be employed and to work on projects that they are passionate about whether start-ups, internships, forming pop bands, writing, caring for children or parents but enable people to choose to earn additional money. Unpleasant jobs should command increasing premiums as more people have the choice not to do them open to them but interesting flexible jobs may not need as high wages as current minimum wages (which I could imagine being abolished for recipients of universal income).
Of course some would sit around all day doing nothing but I suspect that not many would do this long term and it may be better that they can declare it as an active choice rather than be bullied into interviews and appearances at job centres.
There would be complicating factors such whether/when immigrants were entitled to the universal income and if not a minimum wage may be required to protect them from exploitation.