@3volver to General DiscussionEnglish • 7 months agoDoes this plan make sense?imagemessage-square93arrow-up1102arrow-down173
arrow-up129arrow-down1imageDoes this plan make sense?@3volver to General DiscussionEnglish • 7 months agomessage-square93
minus-squareAnnoyed_🦀 linkfedilink24•7 months agoWhere do you get the money for UBI if income tax is abolished?
minus-square@Mr_Blottlink22•7 months agoJust so you know, the rest of us grudge our income tax, but pay it because of the massive benefit to us and others less fortunate The answer is abolishing income tax below a certain threshold, and raising it above certain thresholds
minus-square@SpaceNoodlelink6•edit-27 months agoDing ding ding No tax up to $75k, tax brackets with exponential decay reaching 95% at $1MM, all adjusted for inflation annually.
minus-squareAwkwardLookMonkeyPuppetlinkEnglish0•7 months agoPercentages adjusted for inflation? Do you mean lower percentage of income is taxed during years with high inflation?
minus-square@3volverOPlink0•7 months agoThis makes sense, I agree to an extent. Abolishing income tax in hindsight is a bit extreme.
minus-square@3volverOPlink-3•7 months agoIf you’re interested at all, here’s how https://fred.stlouisfed.org/series/GFDEBTN/
minus-squareAnnoyed_🦀 linkfedilink4•7 months agoSo your solution for funding UBI after abolishing income tax is…debt?
minus-square@3volverOPlink-2•7 months agoThe debt is meaningless anyway, do you think they’ll ever pay it off?
Where do you get the money for UBI if income tax is abolished?
Land value tax, also popularly known as georgism.
Fairies!
Where do they get the money for the military budget?
Just so you know, the rest of us grudge our income tax, but pay it because of the massive benefit to us and others less fortunate
The answer is abolishing income tax below a certain threshold, and raising it above certain thresholds
Ding ding ding
No tax up to $75k, tax brackets with exponential decay reaching 95% at $1MM, all adjusted for inflation annually.
Percentages adjusted for inflation? Do you mean lower percentage of income is taxed during years with high inflation?
The tax bracket limits, obviously.
This makes sense, I agree to an extent. Abolishing income tax in hindsight is a bit extreme.
How should i know? I’m not American.
If you’re interested at all, here’s how
https://fred.stlouisfed.org/series/GFDEBTN/
So your solution for funding UBI after abolishing income tax is…debt?
The debt is meaningless anyway, do you think they’ll ever pay it off?