Well the ultra rich don’t really pay a level of income tax that reflects their wealth anyway, but even if they were actively trying to fiddle things any amount of UBI would be but a rounding error in their finances. For the actual rich, nothing short of a wealth tax will do.
As for the second question, possibly. Although UBI does replace benefits, and I’d wager most low income neighbourhood are already using those benefits to top up landlord retirement funds anyway. UBI is as much about letting people have the money without making them balance it on their nose first while praising the glorious taxpayers that fund it.
Well the ultra rich don’t really pay a level of income tax that reflects their wealth anyway, but even if they were actively trying to fiddle things any amount of UBI would be but a rounding error in their finances. For the actual rich, nothing short of a wealth tax will do.
As for the second question, possibly. Although UBI does replace benefits, and I’d wager most low income neighbourhood are already using those benefits to top up landlord retirement funds anyway. UBI is as much about letting people have the money without making them balance it on their nose first while praising the glorious taxpayers that fund it.
Thank you, I learned some things today.
Nor does anyone else.
Income tax reflects income. It has zero relationship with wealth/net worth.