All formes of BI are paid for with a tax, if your making say ~50k the money that tax equals the amount you receive from BI. But if your making 200k you end up receiving far less from BI than you pay in taxes even if there depositing money into your account every month.
PS: Of note BI is assumed to replace social security so someone making 50-80k may effectively pay significantly less in taxes prior to retirement but receive far fewer benefits in retirement.
Of note BI is assumed to replace social security so someone making 50-80k may effectively pay significantly less in taxes prior to retirement but receive far fewer benefits in retirement.
This is why I think BI doesn't have a very good chance in the US. The AARP is a very powerful lobby and their members wouldn't go for a reduction in benefits after retirement.
Do you have voluntary contribution schemes for retirement in the US? e.g., That $80k retiree could've been pumping money into investments designed to top up their BI once they retire?
Yes, there are a number of voluntary, tax-privileged retirement savings options, some of which may only be provided by employers, but not all employers provide (e.g. 401k/403b).
PS: Of note BI is assumed to replace social security so someone making 50-80k may effectively pay significantly less in taxes prior to retirement but receive far fewer benefits in retirement.