Date: 2017-02-26 02:12 pm (UTC)
People keep talking about how much it would cost to pay everyone a basic income's worth of extra, but in the basic income proposals that I've seen, it doesn't work that way. Rather, taxes are adjusted so that if you earn so much that you wouldn't qualify for social security benefits in the pre-BI system, there's a bit of extra tax that effectively taxes your added income away. (Of course, to avoid welfare traps, the tax increases gradually rather than suddenly, so as to ensure that working always remains profitable.) As a result, the basic income scheme becomes approximately cost neutral.
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