Any UBI could be entirely reversed by an equal and opposite tax. Of course this would be pointless, but it shows that there are many possibilities, depending on what sort of taxes you combine it with, and some of them are certainly feasible because the net effect is small.
UBI is largely about symbolic equality, the kindergarten-level fairness of everyone getting the same amount. That’s important because symbols of equality are important. But from an economics standpoint it’s not a complete plan, and it’s a bit nebulous because the choice of which taxes to include in your analysis is arbitrary.
Assuming a progressive tax system, though, it does mean automatic benefits for people without other income and more financial security for almost everyone, assuming you think you have some risk of losing your job.
This is similar to insurance. We don’t buy it because we think we will make money on average.
UBI is largely about symbolic equality, the kindergarten-level fairness of everyone getting the same amount. That’s important because symbols of equality are important. But from an economics standpoint it’s not a complete plan, and it’s a bit nebulous because the choice of which taxes to include in your analysis is arbitrary.
Assuming a progressive tax system, though, it does mean automatic benefits for people without other income and more financial security for almost everyone, assuming you think you have some risk of losing your job.
This is similar to insurance. We don’t buy it because we think we will make money on average.