Would you accept a 30% income reduction to help your employer be more profitable?

[misher]

Originally Posted by acottawa

The GST/HST brings in about $40B a year. Is it only applies to “luxury items” it brings in maybe $20B at 5%. To get to $150B you estimate the program would cost the rate of the “luxury” tax would have to be over 40%. At a rate that high people would turn to the black market and actual revenues would be far below that.

Realistically, to raise $150B the feds would have to raise taxes across the board by about 50%.

At a $1000 it wouldn’t be better than most existing programs (if you have kids welfare is higher) so it won’t lure many people out of the welfare system.

The problem with UBI is there is pretty much a one-to-one ratio of people in the workforce to recipients, so every worker has to pay their own UBI cheque. The other problem with UBI is most of the money would just fuel inflation: if 15 million people have an extra 1000 in their pocket, what is going to happen to rent?

I understand that lower income people are struggling, but I don’t think UBI is a solution.

Thank god someone realizes that it would just get lost on inflation.