Re:Stockton extends its monthly $500 UBI payment experiment
by bhupy on Tuesday June 02, 2020 @03:15PM
(#23394969)
Question: why not abolish all taxes, then? If we can just MMT the current Federal budget, why should anyone pay taxes?
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Re:Stockton extends its monthly $500 UBI payment experiment
by rapind on Tuesday June 02, 2020 @03:21PM
(#23395060)
You can implement a progressive tax using UBI and a flat tax instead and thus get rid of all the loopholes and tax screwery. IMO this is what all countries should do. Corruption loves complexity.
Re:Stockton extends its monthly $500 UBI payment experiment
by hpkuarg on Tuesday June 02, 2020 @04:03PM
(#23395692)
I dream of the day that a land value tax, and only a land value tax, covers all government services. In fact, one could argue that the size of government that a land value tax supports is the maximum size.
Re:Stockton extends its monthly $500 UBI payment experiment
by bhupy on Tuesday June 02, 2020 @07:13PM
(#23397657)
All excellent ideas. Unfortunately I think a Federal LVT would require a Constitutional amendment, but nothing stopping us from doing this at the State level.
Re:Stockton extends its monthly $500 UBI payment experiment
by fny on Tuesday June 02, 2020 @11:54PM
(#23399496)
An MMT theorist would argue that taxation is used to withdraw money from circulation and redistribute income. They advocate for using fiscal policy to drive monetary policy.
I just want to state for clarity's sake that I don't espouse the policies of MMT theorists. It's just a framework that appears to have some analytical merit. For example, despite the roaring deficits, why has demand for treasuries not decreased? Why did QE and high government spending not cause inflation? Why do surpluses tend to trigger recessions?