Re:It Is Time For Basic Income
by sitkack on Sunday March 23, 2014 @11:06PM
(#7456463)
I guess I don't understand what 'Net' is. Is it the cost of the government, so if I earn 20k on the open market, are given 20k and taxed 10k (I have 30k in my pocket, and the gov has spent 10k)?
[ Parent
| on HN ]
Net here is the amount received by the individual in basic income, less the portion of their taxes going to pay for the basic income, assuming it is funded with a 50% flat tax. So yes, if you earn $20k, are given $20k, and are taxed (for the purposes of funding the BI) $10k, the net (direct) effect of the basic income program on your bottom line is $10k.