While the numbers will vary based on the details of the proposal, the trend is general: broad-based taxation coupled with a universal payout, the basic formula of most realistic UBI proposals, tends to leave those at the bottom better off, those in the middle about even, and those at the top a little worse off. It's not incredibly radical — it's just an effective anti-poverty policy...
Tuesday, October 17, 2023
Basic income is less radical than you think
The poorest 20 percent of Americans would see their after-tax income rise about 17 percent — a significant anti-poverty gain. The next 20 percent of Americans would see only a modest gain, roughly 5 percent. The middle 20 percent would experience basically no change. The gains from their UBI would almost perfectly cancel out the higher tax rates they'd pay. And the remaining upper classes would see modest decreases in income, with the tax costs outstripping their UBI benefits.
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