Re:Time for a Guaranteed Basic Income?
by 11thEarlOfMar on Saturday January 23, 2016 @02:14PM
(#10959576)
The proposal is to pay all citizens the same amount. No means testing, no qualification except perhaps an age limit.
Individuals are not the only tax payers, and the wealthy do pay far more than $12,000 per year already.
Re:Time for a Guaranteed Basic Income?
by icebraining on Saturday January 23, 2016 @02:30PM
(#10959665)
Everyone does get the $12k, but you can effectively raise taxes to "cancel out" those $12k for the rich, maintaining the same effective tax rate for them.
Re:Time for a Guaranteed Basic Income?
by SomeCallMeTim on Saturday January 23, 2016 @03:15PM
(#10959873)
My point is that you can adjust the tax code so that people over some threshold are paying $12k more than they used to, cancelling out the $12k of income. And counting people who are going to have their taxes raised by $12k in the overall cost is disingenuous. Below that threshold taxes will also likely go up, eating up some of the $12k there as well.
Re:Time for a Guaranteed Basic Income?
by icebraining on Saturday January 23, 2016 @03:54PM
(#10960049)
Then we agree :)
Is not what's being proposed by pretty much anyone.
$12,000/year per American adult who isn't already earning $X/year is how I understand it. A negative income tax, effectively.
Even if it's not administered that way (i.e., everyone gets a $1k check every month), then you raise taxes in such a way that every dollar earned means you earn more, but that by, say, $48k/year you're paying at least $12k/year in taxes.