It wouldn’t.
EVERYONE would get a monthly check, totalling for the year to .23 X 20k ($4600).
If you don’t spend 20k in a year, well, you’re getting money, a negative sales tax, so to speak.
And, since (with the simultaneous repeal of the 16th) the gov’t no longer can demand that you disclose your income, they can’t give differing rebates to different income levels.
I’d much prefer this to the intrusiveness of the present system and the EITC (which makes for a NEGATIVE income tax on some).
I think it’s great, but the prebate really worries me. I can easily see the Dems increasing this prebate up and up and up.... ‘fer der poor’
And, since (with the simultaneous repeal of the 16th) the gov’t no longer can demand that you disclose your income, they can’t give differing rebates to different income levels.There is no "simultaneous repeal of the 16th" and your employer and self-employed would report earnings to Social Security...which happens to be the government agency that would be sending the (GAG!) "prebate" checks.