3 ms·
> Doing some back of the envelope math, US gov revenue is 3.31 trillion and the population size is 323.1 million. Which leaves about $10244 per capita to play w
by Suncho 9y ago
> Doing some back of the envelope math, US gov revenue is 3.31 trillion and the population size is 323.1 million. Which leaves about $10244 per capita to play with.
The government doesn't face what we would think of as a typical budget constraint. There is a limit to how much money the government can spend, but that limit is determined by how much spending the productive economy can absorb without causing inflation or interest rates or taxes that are too high. It's the amount that closes the output gap without attempting to push past it.
The only way we can discover the appropriate amount of basic income by gradually ramping it up until further incremental increases no longer provide a benefit.