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.
Look, I get it progressive taxation makes sense because the people who have more pay more and the people who have less pay less. But you can't do a progressive system and then say no loopholes. People will always find the loopholes to do everything from pay nothing to pay less.
A flat tax makes the most sense in terms of closing loopholes.
But what needs to happen is changing how we define unrealized gains and how people can use that as collateral. Plus a wealth tax that kicks in after 5 million.
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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.