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lol ... I suspect that 2K a month would cost me more than 2K a month. There's hundreds of thousands of people just like me. What's the VAT percentage he's proposing?
You would have spend a lot for the VAT to be a net loss for you. He wants it at 10 percent. He would exempt consumer staples and it would be higher on luxury items like yachts and sports cars. From what I've seen 10 percent is the baseline though.
Last edited by BornintheSprings; 01-14-2020 at 05:08 PM..
A VAT, more taxes for "top earners" and a "carbon fee" whatever that is.
So, like all these plans , they rely on those that can, to pay for those that can't.
VAT + UBI its a tax tailored only towards luxury goods but with a monthly refund of $1000
which unless you spend an excess of $10k/mo that would consume your $1k dividend.
As for the carbon fee its used to offset the cost of carbon emissions during production, Heck companies like Etsy already have it enacted and many places in California as well.
Well I agree with those but, I do worry that say, my boss will stop giving me raises because he knows I am getting 1 K per month from the government. That seems to be a big flaw. I am not in an abusive workplace but you can see corporations seeing this as a break on wages for them.
I just googled your question and stumbled across this quora thread for the exact question you have.
Peter Schachte has the first answer and I am inclined to agree check it out.
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Originally Posted by skeddy
lol ... I suspect that 2K a month would cost me more than 2K a month. There's hundreds of thousands of people just like me. What's the VAT percentage he's proposing?
22% custom tailored ... example on things like rockets to Mars, and yachts, excludes diapers and formula.
"Maezawa’s stated goal is to test the premise of a basic income — the notion that every citizen should get a guaranteed, regular stipend. Normally, the idea is that the government should provide these unconditional stipends. But since most governments aren’t yet eager to institute a basic income, some wealthy individuals are taking matters into their own hands.
<snip>
Whether you like it or not, billionaire philanthropy exists. And if it’s going to keep existing, then we’d probably do well to figure out how rich people’s resources can most effectively tackle our world’s biggest problems."(my bold)
It's only 1K a month ... what would it cost you to loose your job --- ?
"Yang: I’m running for president because I’m convinced that we are in the third inning of the greatest economic transformation in the history of the world. And the third inning has brought us Donald Trump. He’s our president because we automated away 4 million factory jobs in Michigan, Ohio, Pennsylvania, Wisconsin, and the other swing states he needed to win and did win. My friends in Silicon Valley know that we’re about to do the same thing to millions of retail workers, call center workers, fast food workers, truck drivers, and on and on through the economy. So I’m running for president to wake up America to the fact that it’s not immigrants or globalization but this technology that is transforming our way of life. We need to make big, dramatic moves as a society to move forward."(my bold)
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Quote:
Originally Posted by BornintheSprings
You would have spend a lot for the VAT to be a net loss for you. He wants it at 10 percent. He would exempt consumer staples and it would be higher on luxury items like yachts and sports cars. From what I've seen 10 percent is the baseline though.
I thought it was 22 percent and now I know why I thought that, this:
Many people, including myself, expressed skepticism that a 10 percent value-added tax (VAT) could fund a cash transfer this large. According to his website, however, there is more to the plan than a VAT. He argues that he could fund his Freedom Dividend with a combination of new revenue from a VAT, other taxes, spending cuts, and economic growth.
<snip>
A more realistic plan would require reducing the Freedom Dividend to $750 per month and raising the VAT to 22 percent.
Many people, including myself, expressed skepticism that a 10 percent value-added tax (VAT) could fund a cash transfer this large. According to his website, however, there is more to the plan than a VAT. He argues that he could fund his Freedom Dividend with a combination of new revenue from a VAT, other taxes, spending cuts, and economic growth.
<snip>
A more realistic plan would require reducing the Freedom Dividend to $750 per month and raising the VAT to 22 percent.
I remember in many of his speeches Yang said a VAT of 10 percent he said half the European level. You are right there are other mechanisms of funding but the VAT is a primary one.
I just googled your question and stumbled across this quora thread for the exact question you have.
Peter Schachte has the first answer and I am inclined to agree check it out.
That answer is not valuable. I am not going to quit my job. It offers tons of more benefits and I have been there 15 years. I am not saying they are going to cut my salary but may not give me raises like they would otherwise... or may reduce pension payments. I am not going to quit my job over that as I am basically stuck there... Millions are in the same boat.
how large will the gas tax increase be that he has proposed? (carbon tax)
On a $50k purchase the VAT would be $5k but wouldn't that encourage dealerships to compete and there are also govt. incentives for most vehicles.
Carbon tax is $40-100 a TON and that would be paid by polluters, Will the cost be passed down to consumers in some form? of course but it isn't anything dramatic hence why you'd be receiving $1k/mo to offset the costs.
Status:
"It Can't Rain All The Time"
(set 27 days ago)
Location: North Pacific
15,754 posts, read 7,591,221 times
Reputation: 2576
Quote:
Originally Posted by BornintheSprings
I just googled your question and stumbled across this quora thread for the exact question you have.
Peter Schachte has the first answer and I am inclined to agree check it out.
That answer is not valuable. I am not going to quit my job. It offers tons of more benefits and I have been there 15 years. I am not saying they are going to cut my salary but may not give me raises like they would otherwise... or may reduce pension payments. I am not going to quit my job over that as I am basically stuck there... Millions are in the same boat.
Your employer knowing that you can, will make all the difference. They would more likely give you a raise, in order to keep you there, unless you're not worth your salt, then they won't care regardless.
It's harder to exploit people with money ... than it is, with people without money.
I'm also thinking all those companies out there that have less than desirable ethics, will need to sprout some, because their people can walk out the door and know they won't starve when they do, under the Freedom Dividend.
Cash is king ... that is why the DNC is working so hard to get Yang out of the game. Liken to Ron Paul, end the Fed and wage (fed tax) garnishment ... Ron Paul scared the GOP, to the point that they were calling Ron, crazy uncle larry, doing their media blackouts and they changed their rules at their RNC in 2012, so that to keep the delegates bound, so they couldn't unbind and go with Paul.
Yang has the DNC scared too ... capitalism loves automation, the government will get paid, whether we do or not ... the government does not want to set us free. Not depend on the government ... they like us, just where they have us. Paying our 18 - 22 percent in every month, except for Amazon 0 tax haven --- that dude is free.
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