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Utopia Talk / Politics / Andrew Yang suspends campign
Im better then you
2012 UP Football Champ
Wed Feb 12 16:59:38
He had some interesting ideas and was pretty smart.
Sam Adams
Member
Wed Feb 12 17:02:57
He ate a bat and got the coronavirus
Habebe
Member
Wed Feb 12 18:24:16
Nooooooo, why God, why!!!!!!

Such a cruel world we live in.



Im all seriousness though his idea is a rehash of Milron Friedman's negative income tax which is a rehash of some kther guys basic income idea.
tumbleweed
the wanderer
Wed Feb 12 20:07:47
he's got a good shot at a position in someone's administration... assuming total doom doesn't strike
Turtle Crawler
Admin
Wed Feb 12 20:36:27
I'd vote for him, but I want 1k a month for my kids too.
tumbleweed
the wanderer
Wed Feb 12 20:43:27
if you declared them as roommates it might've worked
Habebe
Member
Wed Feb 12 22:39:04
By yotal doom do you mean 4 more years?
The Children
Member
Thu Feb 13 02:14:13
so no more free moniez?

i knew it, was 2 good 2 be true.
shithole country
Habebe
Member
Thu Feb 13 02:45:01
Tc, Read up on Milton Friedman's negative income tax.
smart dude
Member
Fri Feb 14 00:39:28
TC doesn't read.
kargen
Member
Fri Feb 14 14:40:32
He will watch a youtube video of someone else reading though.
kargen
Member
Fri Feb 14 14:40:32
He will watch a youtube video of someone else reading though.
jergul
large member
Fri Feb 14 15:55:23
Negative income tax is impossible for as long as people can incorporate income.

Poor habebe making 0 dollars a year. His company is however making 150 000 a year in profits and has 0 payroll.

Habebe will sure be rich when he cashes out some day.
Habebe
Member
Fri Feb 14 17:39:30
Jergul, Easy fix, cap it.

Im not proposing it per se. Bit i like the general idea.
Forwyn
Member
Fri Feb 14 18:58:14
Habebe will have an interesting time explaining to auditors how he's displaying a $150k lifestyle on a $0 income.
jergul
large member
Fri Feb 14 19:30:54
Forwyn
Why would he be demonstrating that? He would have the negative income tax + whatever tax free expenses the company pays for.

That a legal entity seems to generate decent revenue without a payroll has nothing to with habebe's personal income.

And what auditors? If you make less than 200k, you have 1 chance in 80 of being audited every year.
jergul
large member
Fri Feb 14 19:34:58
habebe
I did not understand what you meant.
Habebe
Member
Fri Feb 14 22:40:07
Jergul, Well if they put a cap on how much income somones small biz can bring in and still recieve payment from a negative income tax.

That said I dont think this would.be a huge difference.

In the US we have something similar with the earned income tax credit.
jergul
large member
Sat Feb 15 03:14:45
So the small business is owned by a retired aunt. She has very rigid contract obligations to you.

Earned income tax credit is vulnerable to the exact same thing. Its probably not that much money, but a careful small business owner would adjust his income to the cut-off point.
Habebe
Member
Sat Feb 15 03:42:59
Well then in that example wouldnt the aunt then recieve less?

How wide scalendo younthink this glitch is?

I really dont see this as a major issue for it.
jergul
large member
Sat Feb 15 07:02:54
The retired aunt has a fixed income pension.

The scale of potential abuse for child allowances is so wide that we do not means test it in Norway. Everyone gets it.

The earned income tax credit is a form of means tested child allowance.
Habebe
Member
Sat Feb 15 11:22:51
And the EITC hasn't broken our bank and gives much neneded funds to low income families.
jergul
large member
Sat Feb 15 12:10:31
mkay.
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