this post was submitted on 18 Oct 2023
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A well implemented UBI would be funded by a progressive tax system that taxes rich people more heavily that anyone else. If that is the case a rich persons taxes would end up increasing more than the UBI amount. At the same time everyone else's taxes may increase some but the UBI would more than cover the increase. That would lead to a net decrease in inequality.
A UBI as described above is a social correction. In essence it would redistribute money from those who have plenty of excess money to those who are struggling.
This is just your opinion. How do you know it won't accomplish that when it has never been implemented at scale?
Ultimately a UBI can achieve a similar end result as the social-democratic systems. The key is in making sure it is implemented well. UBI is just a way of achieving the same goal in a different way.