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The reason it does so is that it's the only viable way to fund it. 235,715,590 people 21+ in the US. At $13k/year that's just over $3 trillion dollars per year
by cheald 10y ago
The reason it does so is that it's the only viable way to fund it.
235,715,590 people 21+ in the US. At $13k/year that's just over $3 trillion dollars per year. Social Security spending was $888b in 2015, Medicare spending was $546b in 2015, and other welfare spending was $1.031b. If you cut all SS, Medicare, and other welfare spending and redirected it into a $13k/yr UBI, you'd still be about 20% short of your necessary funding. Total federal revenues for 2015 were about $3.25t.
If you leave Medicare and SS in place? You could only fund 46% of the UBI requirement with existing welfare spending. Good luck passing the massive tax increases needed to fund that. And that's ignoring the fact that the SSA indicates that the long-term ability to meet SS obligations is already in danger.
- drabiega 10y agoEvery thread about UBI is full of people doing this same math. Anyone who thought that you could have UBI without taxes to zero it out for most of the population has long since been convinced. Who are you writing this for?
- eanzenberg 10y agoUntil it is explained how it will be funded this fact should always be brought up.