4 ms·

The total spent on all welfare programs is about 1T. If all adults got UBI, assume around 256 million people above 18 1) 256 million @ 12K each is 3T, the curr

The total spent on all welfare programs is about 1T. If all adults got UBI, assume around 256 million people above 18 1) 256 million @ 12K each is 3T, the current budget is 4.7T, current revenue is 3.5T. Good luck raising taxes by almost double. It will never happen. So UBI will need to be means tested. Ideally it would slowly phase out so there is no disincentive to work. 2) how do you handle UBI for large families? Does each child get UBI? If so I promise you people will have more children to get more UBI. If people dont get more UBI per child, people will have too many children, UBI wont be enough and children will go hungry. Which is why we give food instead of cash 3) How will you handle people selling their UBI income stream for a lump sum, blowing it all, then starving anyway? 4) 10% of the population is pretty much incompetent either in IQ or in emotional intelligence. That would be 30 million that simply wont be able to handle being given money.

zajio1am 6y ago
> 1) 256 million @ 12K each is 3T, the current budget is 4.7T, current revenue is 3.5T. Always seems to be that 12K is too big for first iteration. 3T is about 15 % of US GDP. When i computed UBI for my home country (not US) with the same level as existing (means tested) minimum income social welfare benefit, i got that it would need 8 % of GDP. > Good luck raising taxes by almost double I also found that about 1/3 of necessary money could be get by removing basic per capita tax deduction. Which is technically tax increase, but it is neutral if one counts UBI as negative tax money. Another more than 1/3 could be get from state pensions by relabeling part of pension income as UBI. Some small part could be get from removing the minimum income social welfare benefit (but not other social welfare). Altogether that would cover more than 80% of necessary money and one would only need additional taxing of 1-2% of GDP (compared to existing 35%). 3) How will you handle people selling their UBI income stream for a lump sum, blowing it all, then starving anyway? Personal bankrupcy laws? 4) That would be 30 million that simply wont be able to handle being given money. If they had not be able to handle UBI money, then they would not be albe to handle wage money or existing means tested welfare money as well.

zajio1am 6y ago

> 1) 256 million @ 12K each is 3T, the current budget is 4.7T, current revenue is 3.5T. Always seems to be that 12K is too big for first iteration. 3T is about 15 % of US GDP. When i computed UBI for my home country (not US) with the same level as existing (means tested) minimum income social welfare benefit, i got that it would need 8 % of GDP. > Good luck raising taxes by almost double I also found that about 1/3 of necessary money could be get by removing basic per capita tax deduction. Which is technically tax increase, but it is neutral if one counts UBI as negative tax money. Another more than 1/3 could be get from state pensions by relabeling part of pension income as UBI. Some small part could be get from removing the minimum income social welfare benefit (but not other social welfare). Altogether that would cover more than 80% of necessary money and one would only need additional taxing of 1-2% of GDP (compared to existing 35%). 3) How will you handle people selling their UBI income stream for a lump sum, blowing it all, then starving anyway? Personal bankrupcy laws? 4) That would be 30 million that simply wont be able to handle being given money. If they had not be able to handle UBI money, then they would not be albe to handle wage money or existing means tested welfare money as well.