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1. $587 a month in many cities in the US will barely rent a room. Even in St. Louis (https://www.rentjungle.com/average-rent-in-st-louis-rent-trends/ https://w
by dispose13432 10y ago
1. $587 a month in many cities in the US will barely rent a room.
Even in St. Louis (https://www.rentjungle.com/average-rent-in-st-louis-rent-trends/ https://www.rentjungle.com/average-rent-in-st-louis-rent-tre... ), average monthly rent for a one bedroom apartment is $1000 a month. In LA, it's over 2000 a month, in NY it's 2700, in Detroit it's at 1000.
SNAP (Food stamps) give about $255 a month. That means that out of UBI, about $300 is left over for rent.
2. If everyone in the US gets $587 a month, that's 1.5 trillion a year.
The current US federal budget is 3.8 trillion.
That's about a quarter of current US federal budget, and we still have to give an actual livable stipend to the truly poor (SNAP, section 8, medicare), some kind of defense, leave some for state/city tax, federal infrastructure programs (freeways/trains).
- gokhan 10y ago> That's about a quarter of current US federal budget Only some will be given free money, and almost all of them will be spent since receivers are poor and cannot save it, would be quite a boost to the economy. It's a very direct way of implementing Keynesian policies.
- dispose13432 10y ago>Only some will be given free money, I thought the idea is that everyone from Bill Gates to the beggar will be given it?
- flukus 10y agoAnd most will have their taxes adjusted so that it makes no difference to the governments bottom line.
- dispose13432 10y agoI'm saying that taxes will go through the nose (close to 25%) for everyone with quite questionable benefits (will barely pay for rent).
- Nition 10y agoFor UBI yes. But for this Finnish experiment, only a group of unemployed people are getting it.