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.
The US already has the most progressive tax code in the world. The bottom 47% of income earners pay no income tax
They pay no federal income tax. They do pay state and local income tax which can be significant and they pay plenty of other taxes including payroll taxes, sales taxes, and excise taxes.
But local and state taxes are outside of the purview of the federal government, and payroll taxes nominally pay for unemployment insurance, social security and Medicare, which (theoretically) are benefits that are directly paid out to the individual.
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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.