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literally no downside except for needing to tax the rich
So literally no downside at all then?
Can’t eat them and tax them at the same time 😞
There are downsides.
Some people require more income to stay alive than others. Think of people with decreased mental or physical capabilities.
Those would loose a big chunk, which need to be subsidised somehow.
But the upsides outweigh the downsides.
Not necessarily, that depends on how it shakes down.
It’s a political downside, because anything involving taxes will turn some people against it.