Comment on Universal Basic Income Is Not FeasibleparentComments−11235813218yThis is part of the circle of miscommunication when discussing UBI. It goes like this:Q. The tax rate would be too high.A. Not if UBI is small.Q. Small amounts won’t make a difference.A. That’s why it needs to be enough to live on.Q. Then the tax rate...−keithnz8ythe problem is people talk about paying for it through income tax and not a wealth tax.If you look at wealth distribution, you look at how to slice enough off the top end to cover the bottom end.−11235813218yI assume you are looking at the $50-100 trillion of theoretically seizable wealth in the United States. Unfortunately, not much of that is fungible due to the lack of buyers in that scenario.
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This is part of the circle of miscommunication when discussing UBI. It goes like this:
Q. The tax rate would be too high.
A. Not if UBI is small.
Q. Small amounts won’t make a difference.
A. That’s why it needs to be enough to live on.
Q. Then the tax rate...
the problem is people talk about paying for it through income tax and not a wealth tax.
If you look at wealth distribution, you look at how to slice enough off the top end to cover the bottom end.
I assume you are looking at the $50-100 trillion of theoretically seizable wealth in the United States. Unfortunately, not much of that is fungible due to the lack of buyers in that scenario.