> Mechanically the other problem would seem to be, if you listen to someone like Gary Stevenson, that it only works if you ratchet up taxes on the top end.
That’s not what I'd call a problem (its part of most concrete UBI proposals), but, yes, whether you look at it through a classic fiscal lens or a macroeconomic impact lens, you have to raise taxes concurrently if the UBI is significantly greater in aggregate payments than the means tested welfare it replaced (which it must be to maintain the same base benefit level, and many proposals would increase the base benefit level), and any sensible implementation will do it progressively starting somewhwere above the middle of the income distribution.
That’s not what I'd call a problem (its part of most concrete UBI proposals), but, yes, whether you look at it through a classic fiscal lens or a macroeconomic impact lens, you have to raise taxes concurrently if the UBI is significantly greater in aggregate payments than the means tested welfare it replaced (which it must be to maintain the same base benefit level, and many proposals would increase the base benefit level), and any sensible implementation will do it progressively starting somewhwere above the middle of the income distribution.