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It's too complex to rehash here in a comment - there are people like Andrew Yang who "have done the MATH" and it works out; you tie UBI to inflation also, so pe
by loceng 5y ago
It's too complex to rehash here in a comment - there are people like Andrew Yang who "have done the MATH" and it works out; you tie UBI to inflation also, so people only with UBI don't get priced out of the market, at the same time people can move to towns where things like housing inflation isn't running wild, etc.
Yang also has said you make up most of the difference with a Value Added Tax (consumption tax) - and you can say make Facebook ads have an 80% tax, and diapers - necessities having 0% tax, that way poorer people aren't impacted by the tax; if everyone's receiving $12,000 / year in UBI then you can design it so only people spending more than $200,000 per year are actually paying back into the system - otherwise the taxes you pay is just putting that $12k UBI back into the system. What Yang points out is with the UBI tied to inflation + VAT you can have many levers to pull on if you need to to increase/decrease tax.
Another chunk of covering that UBI comes from cash and cash-like social assistance programs that people will have to decide for themselves if the $1,000/month is better for them or if their current social assistance programs (for cash and cash-like things) is better for them; and no, it's not a Trojan Horse, Yang doesn't want to cut social assistance programs - but if people choose the cash because that's better for their specific circumstances (and they get to decide that, not a bureaucratic government) then that program's spending is going down - the cost of what's provided goes down (turned into the UBI) but then also the management/bureaucracy cost of managing different programs will go down as well depending on how many people chose the UBI over the cash/cash-like options.
And then there's even more that ties into this that reduces costs; stress going down, crime going down, emergency services costs (fire/ambulance/police) go down, etc.