Re:Y Combinator Learns Basic Income Is Not So Basic After All
by scotty79 on Monday August 27, 2018 @03:24PM
(#17853703)
That's why I think basic income should be financed by progressive property tax.
It should quickly progress so that you have to sell your eleventh house to pay annual tax for tenth and to count your properties you should include the ones you own directly but also the ones owned by entities you own.
This tax would be even good if the money gathered was used for any purpose other than basic income. It incentivises ownership by dropping property prices and discourages rent seeking hoarding of finite and basic resource.
It should quickly progress so that you have to sell your eleventh house to pay annual tax for tenth and to count your properties you should include the ones you own directly but also the ones owned by entities you own.
This tax would be even good if the money gathered was used for any purpose other than basic income. It incentivises ownership by dropping property prices and discourages rent seeking hoarding of finite and basic resource.