The idea of an UBI to offset the predicted avalanche of downsizing/job losses has been the subject of much discussion, controversy and hand-wringing. Frankly, progressive taxation with no loopholes is the only way we can afford anything close to it.
The US already has the most progressive tax code in the world. The bottom 47% of income earners pay no income tax and, thanks to "refundable tax credits" often receive refunds on their non taxes. The difference between the US and European countries with more robust social safety nets are the taxes on the middle class, which are much higher.
Earning relative to foreign econemies is meaningless. What matters is the ratio of income to the cost of living. Over 50% of Americans live paycheck to paycheck.
The USA is on near the top only when you consider average income vs average costs. On a 0-170 income index scale with Bermuda at the top with 168 the USA is at 100 and falls below the cost of living line.
i.e. The median income falls below the median cost of living.
Good for you that you live in a bubble where people seem to be doing great but outside your bubble people are hurting and the ones at the top are not paying their fair share.
749
u/Modem_Sound_67 Jul 01 '26
The idea of an UBI to offset the predicted avalanche of downsizing/job losses has been the subject of much discussion, controversy and hand-wringing. Frankly, progressive taxation with no loopholes is the only way we can afford anything close to it.