Very signficant benefits of UBI over minimum wage laws. if for example UBI is equal to typical minimum wage of 2000 hours/year. $14k/year in US. ($7/hour)
Minimum wage means it is illegal to hire you for less, even if you would be happy to work for less. Maybe you are happy to work a couple of hours per day at a nearby library, but would like to get beer money for doing so instead of “internship”. UBI is equivalent to a $7/hour bonus on whatever wage your earn or don’t earn. You have the freedom to say no to work, and so you might accept better pay offers than if you are under structural desperation to survive. That power we all have means that we don’t need a minimum wage law. We all have enough fuck you money to not put up with excessive shit.
One of the key overlooked benefits of UBI is that it also encourages people to retire, move out of the workforce or drop back to part time sooner. Freeing up jobs for people to move into.
Once the house is paid off and the kids have moved out, etc. The “I dont NEED to do this” is real.
It reduces the onus on businesses and places it on the government (and this indirectly, taxpayers).
Better for small businesses to hire and thrive.
“But I don’t want my taxes to go up!”
Maybe you just need more tax brackets. Where I live, for some reason, a specialized doctor making $250,000/yr is in the same tax bracket as some C-suit making $900,000.
Never understood the idea of tax brackets. Why isn’t it just continuous? Computers are calculating the tax now anyway, not like it would be infeasible.
Tax brackets are there for progressive taxation. Progressive income taxation is the most fair form of taxation. The least fair is consumption tax - such as sales tax. Sales tax tax disproportionately burdens lower income households. Since most places have sales tax, an aggressive progression of income taxation is called for to balance the scales.
I’m not speaking against progressive taxation, I’m saying the brackets should be continuous so there aren’t any sharp turns in taxation. Right now the brackets make the taxation discrete, but I feel it should be continuous.
What are the upside of that vs plain minimum wage?
Very signficant benefits of UBI over minimum wage laws. if for example UBI is equal to typical minimum wage of 2000 hours/year. $14k/year in US. ($7/hour)
Minimum wage means it is illegal to hire you for less, even if you would be happy to work for less. Maybe you are happy to work a couple of hours per day at a nearby library, but would like to get beer money for doing so instead of “internship”. UBI is equivalent to a $7/hour bonus on whatever wage your earn or don’t earn. You have the freedom to say no to work, and so you might accept better pay offers than if you are under structural desperation to survive. That power we all have means that we don’t need a minimum wage law. We all have enough fuck you money to not put up with excessive shit.
One of the key overlooked benefits of UBI is that it also encourages people to retire, move out of the workforce or drop back to part time sooner. Freeing up jobs for people to move into.
Once the house is paid off and the kids have moved out, etc. The “I dont NEED to do this” is real.
Why did you bring up UBI? UBI and NIT are nothing alike. UBI isn’t being discussed.
It reduces the onus on businesses and places it on the government (and this indirectly, taxpayers).
Better for small businesses to hire and thrive.
Maybe you just need more tax brackets. Where I live, for some reason, a specialized doctor making $250,000/yr is in the same tax bracket as some C-suit making $900,000.
I definitely need more tax brackets where I live.
Never understood the idea of tax brackets. Why isn’t it just continuous? Computers are calculating the tax now anyway, not like it would be infeasible.
Could totally do a sigmoid function and just integrate over the income. But the brackets are just discrete approximation of that.
You still have brackets, but they’re at every $0.01
Tax brackets are there for progressive taxation. Progressive income taxation is the most fair form of taxation. The least fair is consumption tax - such as sales tax. Sales tax tax disproportionately burdens lower income households. Since most places have sales tax, an aggressive progression of income taxation is called for to balance the scales.
I’m not speaking against progressive taxation, I’m saying the brackets should be continuous so there aren’t any sharp turns in taxation. Right now the brackets make the taxation discrete, but I feel it should be continuous.
Oh I see. Well, you gotta understand the public don’t take too kindly to math. Especially politicians.