Be aware that UBI needs to go in hand with other reforms that can finance it, eliminating things like tax evasion via donations, and certain foundations that exploit those
this post was submitted on 11 Dec 2024
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Yes
Well I’m on Lenny so sure I’ll pick a fight.
No.
My autism doesn't know how to vote on your comment.
Yes.
One method of structuring it is that if UBI is $20k/year, then you have $20k/year taken out as taxes as long as you have a job. The income is neutral, so there's no basis for companies to raise prices.
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Yes
It's an interesting idea but I'd like to see it tried somewhere else on a large scale first.
You could cut down or outright remove various government assistance programs so there would not necessarily be more money for the poor, just not a bureaucracy to figure out if you qualify for this and that assistance.
Yes, it could coexist. Not sure why you'd think it would not. I still want more than a cubicle apartment and cheapest food.
It's an interesting idea but I'd like to see it tried somewhere else on a large scale first.
It has been, Google is your friend
So far it's basically always a good idea
Large scale like a whole state? I only see that several states have run pilot programs.
I support it. It's an insanely expensive policy though and should be implemented carefully and be based on income. An example would be:
- No income $1000 a month
- Min wage $500 a month
Combined with better tax policies that don't tax poor people. Health, education and other basic services should be almost free while having a strong social housing programme.
This way nobody gets priced out of living and there's still plenty of incentive to get a job while having some funds to invest in hygiene and clothing to land the job.
This amount and threshold should be increased in the future.
I really support UBI since you can better model the demand curve with externalities instead of making things free while having it accessible to poor people. Free school might be too low of a cost when calculating benefits to the individual and society so giving people money to afford a heavily subsidised cost would allow for more accurate economics.
You don't have to lower UBI by income. Tax does it for you.
Pulling numbers out my arse, you band your tax until an income of 100k means they pay 12k in tax, essentially reclaiming the 1k/pcm they are paid by ubi. All while insuring they are never worse off than taking no pay rise, as they still have 88k to spend on luxuries.
Numbers subject to bitter argument.
That's true. People shouldn't be discouraged financially from working. I haven't done I proper calculation of all cases of this and the total tax cost but for sure you could use the tax system to get the desired distribution.
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I'm sceptical of it. where would all of that money come from? the "data industry", that is all about making the most believable lies and most effective ads? or land value tax that will make sure to outprice you from your own house if rich people flood it, or if improvements happen around the area?
the pension system, while I believe it is needed, I worry it cannot be sustained for too long anymore because currently it relies on infinite growth everywhere: year over year more people needs to work and pay taxes to finance the pension of the elderly.
or did I misunderstand something and this is not a problem?
Pensions have already been overhauled in the UK. Now pensions are essentially a tax efficient way of investing where you also don't get the realised returns until after you retire, so essentially you are paying for your own future.