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> Guaranteed basic income doesn't necessarily give money to everybody As discussed in the article above and as debated in both right- and left-wing political c
by jnbiche 12y ago
> Guaranteed basic income doesn't necessarily give money to everybody
As discussed in the article above and as debated in both right- and left-wing political circles, guaranteed basic income does give the basic income to everybody, either in cash benefits or tax credits [1].
Thus, basic income is unconditional. There is no expensive bureaucracy to decide who gets it and who doesn't get it. And there can be no accusations about "those people" receiving basic income, and the accuser not. Everyone gets it.
That's the beauty of the system.
1. https://en.wikipedia.org/wiki/Basic_income https://en.wikipedia.org/wiki/Basic_income
- panglott 12y agoI'm thinking guaranteed minimum income. https://en.wikipedia.org/wiki/Guaranteed_minimum_income https://en.wikipedia.org/wiki/Guaranteed_minimum_income The article is ambiguous, bringing up the idea as Milton Friedman's support for a negative income tax (which IIRC is a form of GMI).
- derekp7 12y agoExcept that basic income has to be paid for with taxes. So everyone that works has a higher tax that they pay. Now below a given yearly earned income, the money you get from BI exceeds the additional increase in taxes. But above that threshold, you would be paying more in taxes than what you get back from BI. The real question, is where do you draw that line? At 50K a year? 100K? Or do you get it from property tax (and include all assets someone owns, including foreign holdings, as taxable)?