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RE: Would you be willing to pay higher taxes to make a Basic Income possible

in #basicincome8 years ago

Think about this rationally...to give 300 million people $1000 per month would cost the government $300,000,000,000 ($300B). The military budget alone is $619B (2013). There is more than enough money to pay for all of this. Especially if we eliminated all of the tax loop holes for the rich and corporations--some of which pay an effective tax rate lower than you and I. Government needs to be simplified and its scope clarified and reduced overall (it is a given that in some areas we need more effective regulation). Basic income is a great way to go about this simplification, in my opinion. Thanks for the post.

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The $300B would be a monthly budget. So we need to find roughly $3600B per year.

Major oversight on my part...lulz. The entire 2015 Federal Budget was 3.8T, so 3.6T is definitely not possible under the current tax structure.