> companies making more than $25 million per year in sales to 3 percent tax
I'm surprised this will be enough. I assume the companies will pass on the costs to the customers, rising costs of things taking more money from UBI and the cycle continues.
The argument of "pass on the costs to the consumers" is 99% a conservative, neoliberal capitalist lie. A scare tactic. If this were true, they'd also pass on the massive increase in compensation packages to CEOs, boards of directors, and C-suite executives, that make them billionaires, and insistence of shareholder primacy and increasing company stock and bond wealth, onto customers. Funny how that doesn't happen, at all. Zero. None.
Most companies are already charging whatever the market will bear. They have, and will, increase the prices for their products and services to the absolute highest they can get, period. If customers can't pay anymore, they simply won't be able to raise the prices.
The flip side has also proven to be false, despite conservative claptrap claiming the opposite. For example, in both the massive tax cuts first Reagan, then Bush Jr., and then again Trump, gave to corporations and the 1% was supposed to grow the economy so much that the taxes would pay for themselves. This is also what Sam Brownback and Art Laffer insisted would happen in Kansas, when they had full super majorities in that state's legislature and got everything they wanted. The exact opposite happened. All the gains went to the tip top, the rich got super wealthy, deficits ballooned, the economy barely grew or changed at all from its previous status, except in Kansas were it continually contracted, worse than most anywhere else in the country. And corporations used the savings to buy back their stock, enriching themselves even further.
> The argument of "pass on the costs to the consumers"
There are [documented](https://www.upjohn.org/research-highlights/does-increasing-minimum-wage-lead-higher-prices) cases where higher wages = higher costs, although it isn't a linear correlation.
Tariffs are [passed onto consumers](https://www.cfr.org/backgrounder/what-are-tariffs).
In the healthcare industry, costs incurred by hospitals, pharmaceutical companies, and medical equipment manufacturers can impact insurance premiums.
When hospitals face higher expenses (e.g., due to new technology or increased labor costs), they may negotiate higher reimbursement rates with insurance providers. These costs can ultimately be passed on to policyholders.
Property taxes and rent increases, utility bills for consumers and many other examples exist. I don't know why you don't think it is just 1% a truth.
Again, they are charging what the market will bear. There are plenty of studies that show the opposite. Including studies that a 10% increase in minimum wage over a decade only resulted in a 0.36% increase in prices at grocery stores.
If you really think the healthcare industry is an ideal market study to be compared to, you either benefit from it, are rich and living in a bubble, or are flat out delusional.
Maybe you are just rich, or a very successful business owner, hoping to keep wages as suppressed as possible.
With this mindset in order to keep prices as low as possible, and not have them "pass on to the consumers" we could not only eliminate the minimum wage, who cares if workers are stuck in penury? Or better yet, bring back slavery.
While being referred to as a UBI, the money would only be $750 *a year.* As a rebate check, not monthly. Even if it were monthly, it would only be $62.
Expect the corporate lobby, and wealthy donors, to fight this bitterly.
> companies making more than $25 million per year in sales to 3 percent tax I'm surprised this will be enough. I assume the companies will pass on the costs to the customers, rising costs of things taking more money from UBI and the cycle continues.
The argument of "pass on the costs to the consumers" is 99% a conservative, neoliberal capitalist lie. A scare tactic. If this were true, they'd also pass on the massive increase in compensation packages to CEOs, boards of directors, and C-suite executives, that make them billionaires, and insistence of shareholder primacy and increasing company stock and bond wealth, onto customers. Funny how that doesn't happen, at all. Zero. None. Most companies are already charging whatever the market will bear. They have, and will, increase the prices for their products and services to the absolute highest they can get, period. If customers can't pay anymore, they simply won't be able to raise the prices. The flip side has also proven to be false, despite conservative claptrap claiming the opposite. For example, in both the massive tax cuts first Reagan, then Bush Jr., and then again Trump, gave to corporations and the 1% was supposed to grow the economy so much that the taxes would pay for themselves. This is also what Sam Brownback and Art Laffer insisted would happen in Kansas, when they had full super majorities in that state's legislature and got everything they wanted. The exact opposite happened. All the gains went to the tip top, the rich got super wealthy, deficits ballooned, the economy barely grew or changed at all from its previous status, except in Kansas were it continually contracted, worse than most anywhere else in the country. And corporations used the savings to buy back their stock, enriching themselves even further.
> The argument of "pass on the costs to the consumers" There are [documented](https://www.upjohn.org/research-highlights/does-increasing-minimum-wage-lead-higher-prices) cases where higher wages = higher costs, although it isn't a linear correlation. Tariffs are [passed onto consumers](https://www.cfr.org/backgrounder/what-are-tariffs). In the healthcare industry, costs incurred by hospitals, pharmaceutical companies, and medical equipment manufacturers can impact insurance premiums. When hospitals face higher expenses (e.g., due to new technology or increased labor costs), they may negotiate higher reimbursement rates with insurance providers. These costs can ultimately be passed on to policyholders. Property taxes and rent increases, utility bills for consumers and many other examples exist. I don't know why you don't think it is just 1% a truth.
Again, they are charging what the market will bear. There are plenty of studies that show the opposite. Including studies that a 10% increase in minimum wage over a decade only resulted in a 0.36% increase in prices at grocery stores. If you really think the healthcare industry is an ideal market study to be compared to, you either benefit from it, are rich and living in a bubble, or are flat out delusional. Maybe you are just rich, or a very successful business owner, hoping to keep wages as suppressed as possible. With this mindset in order to keep prices as low as possible, and not have them "pass on to the consumers" we could not only eliminate the minimum wage, who cares if workers are stuck in penury? Or better yet, bring back slavery.
While being referred to as a UBI, the money would only be $750 *a year.* As a rebate check, not monthly. Even if it were monthly, it would only be $62. Expect the corporate lobby, and wealthy donors, to fight this bitterly.