Combined with getting rid of all other welfare ( social security too, although I'm open to a higher retirement age UBI) I think a basic income is the way to go.
Welfare programs are extremely expensive to run, UBI could also work as a defacto upfront tax cut.
Say you owe 30k per year in taxes, 1k per month means you only really pay 18k per year.
UBI + a flat tax. You shouldn't need a PhD to figure out what you owe the State.
Let's say we set the flat tax at 30%, Billy makes 100k per year, after UBI his effective rate is only 18%.
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[ 0.32 ms ] story [ 17.6 ms ] threadWelfare programs are extremely expensive to run, UBI could also work as a defacto upfront tax cut.
Say you owe 30k per year in taxes, 1k per month means you only really pay 18k per year.
UBI + a flat tax. You shouldn't need a PhD to figure out what you owe the State.
Let's say we set the flat tax at 30%, Billy makes 100k per year, after UBI his effective rate is only 18%.