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I really don’t get the excitement about UBI. The US is not that rich of a country. Giving everyone $1,000 per month will cost $39t per year. US gpd is $21t per
by hartator 6y ago
I really don’t get the excitement about UBI. The US is not that rich of a country. Giving everyone $1,000 per month will cost $39t per year. US gpd is $21t per year. Maybe 50 or 100 years with some quantum leap in AI or something in likes.
[My bad my math here is bad. Should be $3.9t not $39t. My initial point stands though. It's just too much money.]
- hexane360 6y agoYour math is off by a factor of 10. Giving 330 million people $12k/yr is only $4 trillion/yr.
- woopwoop 6y agoDouble-check your arithmetic.
- deleted 6y ago[deleted]
- mmoskal 6y ago$3.9t not $39t. Think about it, US GDP can't be less than $1k per person per month.
- prashantv 6y agoShould that be 3.9T per year? (330,000,000121000)
- kalenx 6y agoI'm probably missing something, but 12,000$ * 328 millions = 3.9 T$, not 39?
- markdown 6y agoThat money gets spent and comes back as tax revenue. If you think UBI is expensive, wait until you find out how expensive it will be to have a hundred million unemployed (as a result of automation for one). You give people money, they spend it on goods created by robots which are taxed, earning money to hand out to everyone as a dividend for being an owner in the national enterprise.
- deleted 6y ago[deleted]
- fantod 6y agoIn addition to the missing zero, you'd hardly have everyone on UBI. Only those without jobs.
- offby37years 6y agoKeyword: Universal basic income.
- akvadrako 6y agoYes but UBI is offset by more taxes at higher income brackets. Most specific UBI proposals are 10x cheaper than 3.9b.
- SubiculumCode 6y ago$2.8t was the estimate for Andrew Yang's 1,000/mo for all adults. US gdp is 21t, so roughly 1/7th US gdp.