Re:Why we should all have a basic income
by jganetsk on Sunday January 22, 2017 @04:34PM
(#13457651)
It is unlikely that the kind of income tax increase suggested in the article will have a material impact on the extremely wealthy.
But that's beside the point. I was trying to answer the claim that "demand for goods will only go up" with examples of goods where demand stays the same or goes down. So whether demand for luxury goods stays the same or goes down, you are only reinforcing my point.
Re:Why we should all have a basic income
by stale2002 on Sunday January 22, 2017 @06:17PM
(#13458275)
Ug, you don't get it.
The resources that are being spent on luxury goods will be converted to resources spent on food.
That's called economics 101. Supply and demand. If you take money away from rich people, they will have less money to spend on rich people things, and the world will produce less of those things.
Are you sure about that? Who will be bearing the tax burden to pay for UBI? Are not those the people who are currently buying yachts and private jets?
Business jet usage may decline as well as a substantial part of that usage is to generate income and growth for their businesses. With higher taxes, there is less incentive to risk money to grow your business further, putting negative pressure on business aviation.