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People get out of poverty faster with a guaranteed livable income says Ontario senator
(www.aptnnews.ca)
this post was submitted on 20 Oct 2023
413 points (98.4% liked)
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They will get UBI too so worst case they hit the same floor as everyone else.
But they will never reach that point because taxing the rich will never make them anything other than the richest of the population. They will still be rich, just with a smaller gap between them and everyone else.
As a side note, why are you worried more about the rich than the poor?
I am not. I'm offering the argument that a UBI may well lead to a less productive population, which makes it even harder to maintain a UBI in the first place.
But if there are no longer rich people to be taxed because they have been sucked dry then there is no source to fund the UBI. Hence the notion that "rich people will fund the UBI" doesn't fly. Not to mention that wealthy people find it relatively easy to move to other countries with less taxes.