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I love the concept of UBI as a way to offset jobs lost due to automation, but I have no clue how people think it is supposed to become a replacement for other f
by BigJono 10y ago
I love the concept of UBI as a way to offset jobs lost due to automation, but I have no clue how people think it is supposed to become a replacement for other forms of welfare.
In Australia, our welfare system pays around $250/week and it's about the right amount to live on without starving or being kicked out of your house. We have 24 million people. To pay them all $250/week we'd have to spend $312B/year.
Our entire current federal budget is $450B/year.
I don't see how this works. Not in the slightest. Even if we used all the current allocation for welfare (~120B) and cut out all the administrative overhead that's only ~$100/week. Nowhere near enough to live on.
I can't speak for America or elsewhere, but a UBI here would be enough to stop anyone from taking up prostitution to support themselves. Not even close.