The government cited the program’s high cost when announcing the termination. This shouldn’t be a surprise. A similar program in the United States with a 50 percent marginal tax on earned income would cost about $250 billion per year if operating nationwide (assuming no adverse consequences of taxation). Get rid of the tax, and it would cost just shy of $1 trillion per year.
Monday, August 13, 2018
Universal basic income program fails in Ontario - Washington Times
Universal basic income program fails in Ontario - Washington Times:
For the Ontario pilot, only low-income folks participated, and their benefits replaced unemployment insurance, the state pension and disability payments.
The government cited the program’s high cost when announcing the termination. This shouldn’t be a surprise. A similar program in the United States with a 50 percent marginal tax on earned income would cost about $250 billion per year if operating nationwide (assuming no adverse consequences of taxation). Get rid of the tax, and it would cost just shy of $1 trillion per year.
The government cited the program’s high cost when announcing the termination. This shouldn’t be a surprise. A similar program in the United States with a 50 percent marginal tax on earned income would cost about $250 billion per year if operating nationwide (assuming no adverse consequences of taxation). Get rid of the tax, and it would cost just shy of $1 trillion per year.
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