[davidrupp]

What's a scenario in which adding $20K to my income results in more than $20K in additional taxes? The highest marginal tax rate in the U.S. for 2023 is 37%, and it kicks in after about $578K for a single filer. So increasing my income by $20K increases my tax bill by at most 37% of $20K.

[mongol]

It is not the tax on the UBI that is referred here. It is whatever tax will be neccessary to finance it. You can't reason about this by looking at the current rax system, since it would most likely need to change.

[Aurornis]

We can't give everyone $20K without raising taxes.

The money has to come from somewhere. Taxes would go up to pay for it.

You can't have both UBI and the current tax rates.

[psd1]

Realistically you may be correct - however, it is within the realms of possibility that enabling poor people to take part in the economy will drive value creation, and that this increase to the tax base could fund UBI.

Stock buy-backs don't create any value, or, if they do, it is obscure to me. You may get a one-time bump in capital gains tax, but it's nothing to build an economy on.

A million new dishwashers, though - that's taxable profit and increased emploment. Could UBI drive a virtuous cycle in which everyone gets richer? It certainly looks from here like inequality fundamentally shrinks the pie, even if it works out nicely for some eaters.

[misja111]

Enabling poor people to take part in the economy will increase some value creation. But most governments already do that in some form or another.

[kyleee]

A very fair question, but the possibility of such happenings could probably not be used for the initial funding stream

[psd1]

Agreed; it's a ridiculously optimistic projection and should not be the basis for advocacy.