SWF + UBD by Steve Randy Waldman
"new contributions would be made from a variety of dedicated tax streams and from the compounding of undistributed earnings. Initially the dividend would be quite small, but over time, it would grow."
Bruenig noted on twitter that other commentators failed to note the compounding of undistriubted earnings.
"Bruenig proposes paying out roughly 4% of fund value annually, assuming total returns would generally be higher than that. To generate a $12K per year UBI for US adults in 2018 dollars, the fund would need to grow to about $75T."
[is this Bruenig also or just Waldman?]
"Basically, on these numbers, the fund would have to grow to hold something like 64% of all assets, or 80% of US “net worth”, to finance a “full” UBI at a 4% per annum payout rate."
"It takes the miracle of compound growth that capitalists are always on about and turns it into a miracle of compound taxation, effectively taxing wealthier cohorts (those who would otherwise own the SWF assets) an ever increasing share of income year after year without requiring any new legislation, and with minimal distortion of investment behavior."
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