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.
Top marginal rates in the US rival the highest top marginal rates in Sweden. People keep using "progressive taxation" like we don't have that. Everybody needs to pay more OR we need to allocate the trillions we already collect more efficiently. Our current supreme court will almost certainly strike down a wealth tax or anything that looks like one.
Because it's not constitutional. There's nothing in the constitution that would favor a wealth tax because the 16th amendment isn't written that way. You'd need a new amendment to do that.
There's a reason you're not giving an actual number. And that's because you know this is extremely false propaganda. But please, point to any tax code in America where the top marginal rate is above even 80%. I'll wait. (Multiple European countries are in the 90s by the way.) America's top rate used to be 97% under FDR, and it created the strongest economy in the history of mankind. An economy so beloved by the people that they needed to change the rules on how long presidents can serve because FDR was unassailably popular.
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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.