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In reply to the discussion: A Reverse Income Tax: A Bold Replacement for Social Security, Welfare, Food Stamps, and others [View all]BrentWil
(2,384 posts)39. I don't understand the logic
If you are making 20K under this plan, you would be in reality getting 50K. Why would an employee not value making 55K by making 25K from the employer? 5K more is 5K more.
The problem is when you start to slowly take the benefit way once you reach 50K of income. However, if you look at the scale, one loses the benefit when they reach 125K of income. That means, that their income has to go up 75K to lose a 30K dollar benefit. In other words, for 2.5 dollars one makes over 50K, the government would take 1 dollar. I don't really think this is a huge problem for those jobs either.
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A Reverse Income Tax: A Bold Replacement for Social Security, Welfare, Food Stamps, and others [View all]
BrentWil
Jan 2012
OP
I had an uncle who proposed it in Canada. Studied it in university. From what I can remember it
applegrove
Jan 2012
#10
it would likely be better than SS and would serve all the same purposes, in any event....
mike_c
Jan 2012
#7
People don't get 50K in SS benefits per year when they retire. That is what I am saying to give
BrentWil
Jan 2012
#13
I'm sorry-- the OP isn't mine and I don't have the inclination to research it's claims for you...
mike_c
Jan 2012
#16
Unfortunately, people are too tied to the competition thing without thinking it through...
Luminous Animal
Jan 2012
#32
It does away with the worst part of capitalism competition. Hunger, homelessness...
Luminous Animal
Jan 2012
#40