Sure, that’s how it should work. But how it actually works is that Amazon pays an effective tax rate of 1.4%. Tesla pays an effective tax rate of 0%. Yes they pay no tax. Meta pays 3.6%.
The billionaires themselves pay lower tax rates than their secretaries and janitors. Both Elon Musk and Jeff Bezos have had years where they paid no tax. Larry Page and Mark Zuckerberg are paying effective tax rates around 13%.
So, yes I’d like to live in this fantasy world too. But the government can’t raise enough taxes for a UBI by taking in only a fraction of the money that they themselves give out.
Sure, that’s how it should work. But how it actually works is that Amazon pays an effective tax rate of 1.4%. Tesla pays an effective tax rate of 0%. Yes they pay no tax. Meta pays 3.6%.
The billionaires themselves pay lower tax rates than their secretaries and janitors. Both Elon Musk and Jeff Bezos have had years where they paid no tax. Larry Page and Mark Zuckerberg are paying effective tax rates around 13%.
So, yes I’d like to live in this fantasy world too. But the government can’t raise enough taxes for a UBI by taking in only a fraction of the money that they themselves give out.