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iszomer · 2021-10-05 18:51:29

But will UBI be tax exempt?

sweeneyrod | karma 558 | avg karma 1.81 · | 2020-04-06 17:45:17+00:00

UBI can be taxed as Income.

true_religion | karma 6837 | avg karma 1.74 · | 2019-06-19 18:45:17

UBI is fine so long as you tax companies to recover the money.

BenElgar | karma 159 | avg karma 3.31 · | 2020-07-30 11:59:55+00:00

That's not UBI though, that's a negative income tax.

Torai | karma 323 | avg karma 3.51 · | 2017-08-11 10:32:58

Nah. UBI is government's duty.

What companies like Facebook should start doing is to stop avoiding taxes. That is the best way if they really want to help.

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frgtpsswrdlame | karma 5852 | avg karma 2.93 · | 2017-12-13 22:27:17

Well UBI is going to be funded by a progressive income tax regardless. We can toss "Universal" around all we like but the reality is that the rich are going to net lose and the poor will net win.

rorykoehler | karma 5431 | avg karma 1.71 · | 2019-04-06 02:37:44+00:00

That's why I included ubi in essentials. The thing this solves is tax avoidance evasion.

erik_seaberg | karma 4377 | avg karma 1.56 · | 2019-07-06 19:23:42+00:00

There will surely be people who pay a lot more tax than they receive in UBI. The key thing is not to build an elaborate gameable system to decide who should be eligible for UBI and what it may be used for.

jjawssd | karma 414 | avg karma 0.65 · | 2017-02-10 16:26:24

No, because the people that win with UBI are the poorest people, and they already pay almost no tax.

burrows | karma 182 | avg karma 0.4 · | 2020-05-21 19:57:47+00:00

If no one is working, then who is being taxed to pay for the UBI?

ameister14 | karma 3524 | avg karma 1.98 · | 2020-02-24 17:52:16+00:00

I actually think income tax is a pretty odd way to fund UBI. VAT makes more sense to me as it's a use tax

nottorp | karma 9517 | avg karma 1.87 · | 2021-06-22 21:25:51

If you're doing the negative income tax, yeah. If you do plain UBI, no, because it's an unconditional payment.

AnimalMuppet | karma 25021 | avg karma 1.24 · | 2016-04-13 16:44:02

I fail to see how UBI will decrease the complexity of the tax code. It might help with the unfairness, but not the complexity.

smm11 | karma 294 | avg karma 0.47 · | 2022-01-17 12:19:11

UBI is a tax cut for all.

Which is why it will never happen.

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ConceptJunkie | karma 1178 | avg karma 1.47 · | 2015-10-24 12:35:55+00:00

I'll really appreciate that $10,000 UBI I get from the government. It will help offset the $20,000 in extra taxes I have to pay for UBI.

ed_balls | karma 829 | avg karma 1.34 · | 2019-03-14 13:25:44+00:00

Prediction: UBI won't go anywhere, because it has a branding problem. If we rebrand it as a Negative Income Tax it may actually go somewhere.

epylar | karma 191 | avg karma 1.72 · | 2023-07-04 20:18:59

I think the idea behind UBI is the corporations will pay most of the taxes required.

SolarNet | karma 1768 | avg karma 1.79 · | 2016-01-23 19:14:32+00:00

UBI is often described as a negative income tax for a reason. You don't send those people the money, you give them a tax credit for the money.

SubiculumCode | karma 5366 | avg karma 1.45 · | 2021-01-25 02:02:30

You state this as fact when it is clearly an opinion about what would happen with a UBI. Moreover, if UBI was implemented as a tax refund, then there is plenty of precedent for not being alarmed.

kwhitefoot | karma 8110 | avg karma 1.56 · | 2022-01-17 13:02:45

UBI is taxable income. You just adjust tax rates slightly to claw it back from those with higher incomes. No extra bureaucracy required, no means testing needed.