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> No "new" money will appear... ... except that part where $1,000 per month per person in the US comes out to about $4 trillion, which is 100% of all taxes col

> No "new" money will appear... ... except that part where $1,000 per month per person in the US comes out to about $4 trillion, which is 100% of all taxes collected. There is no universe in which this much money can be given to every citizen in the US without creating new money.

AnthonyMouse 7y ago
The pretty obvious solution would be for more nominal taxes to be collected. It would also replace a very large fraction of existing government spending. Or you might have a one-time election between receiving the UBI and receiving social security, and a lot of people in or near retirement would choose social security and then not have to be provided with a UBI, and everyone else wouldn't have to be provided with social security. Doing the accounting in a naive way is also misleading with a UBI, because it's effectively a tax credit. If you paid $15,000 in taxes and received a $12,000 UBI, you're really in the same situation as if you paid $3000 in taxes and had no UBI. The fact that you're nominally paying $12,000 more in taxes doesn't actually affect you because you get all that back.
rpedela 7y ago
It is closer to $3 trillion because children wouldn't receive the UBI as far as I know. Still a big number for sure.