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Payroll Replacement Tax

Payroll Replacement Tax

 

 

Below is how to pay for the *Federal* side of Guaranteed Minimum Wage/UBI ($1,400)/month – Universal Basic Income.

Automation has already taken 60 Million domestic jobs – 30% of employment tasks with 50% of employment tasks forecasted to be automated before 2025.

Between 1990 and 2007, nationally on average, one robot replaced 3.3 jobs – lowering average wages by roughly .4%.

This is backed up by Pew Research Center.

With another 20 million expected to be taken before 2030.

However, that estimate was *before* the pandemic.

Let’s go by the MIT article using the .4% figure.

This could be way more in depth, but I’ll just do a birds eye view.

So let’s take the net wages and salary in America since 1982 found here.

And make that a percentage of that year’s GDP, found here:

 

And use the following formula:

Annual Net Compensation / Annual GDP

Annual Net Compensation:GDP + Average Underpaid %

Adjusted Annual Net Compensation:GDP x Annual GDP

That gets you the backdated tax for the year.

And that gets us to $4,295,889,700 as seed money for the UBI.

Divide that by the annual UBI cost of 2148 ($179B x 12 months) and the backdated taxes pays almost two years upfront for /#GMW

 

You might ask “What happens after the two years?”

I would answer “It pays for itself.”

Last year’s UI boost served as a proto-UBI model.

And that for every $1 spent in UI boost, upwards of $2 returns to the economy.

Even at half of that ROI, UBI would pay for itself with just two years of seed money to get off the ground.

These are just rough numbers I put together over about an hour. In office, I would work with economists to nail down the math.

 

Spreadsheet

 

Edit: I made a few errors in my original formulas.

A few were against me.

One was very much in my favor.

TL;DR: My backdated payroll replacement tax could prepay almost 100 years of #GMW.

 

Everybody complains about how corporations have gone decades without paying taxes.

This is how we recoup that money.

A Backdated Payroll Replacement Tax

 

Changes are reflected in the spreadsheet.

 

Edit 2:

Missed a variable.

This spreadsheet should now be accurate. Might not prepay almost 100 years, but it does prepay almost 10 years.

 

Edit 3:

New Data. And More New Data. Going to backdate the spreadsheet to 1972. Updates incoming.

I had to pull in some data from here and here since BLS only goes back to 1982 for annual net compensation.

Found a new annual net compensation data table. Updated the spreadsheet accordingly.

Working on adjusting for inflation, now.

And…

 

Spreadsheet link again.

 

Holy. Shit.

 

$105,992.3945 TRILLION dollars after being adjusted for inflation.

Over $100 TRILLION dollars stolen from the economy.

Over $100 TRILLION dollars from Americans.

 

That’s Healthcare.

That’s Housing.

That’s Education.

That’s Sustenance.

So don’t try to tell me that we can’t afford ALL of this in America.

 

#WeThePeople #MBASocialist

 


 

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PAYROLL REPLACEMENT TAX

 

 

Payroll Replacement Tax Payroll Replacement Tax Payroll Replacement Tax Payroll Replacement Tax

Payroll Replacement Tax Payroll Replacement Tax Payroll Replacement Tax Payroll Replacement Tax

 
  

 

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