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It just doesn't work though mathematically. If you take my home country of Canada, giving 40k a year to every person 18 and over would cost around 1.3 trillion
by snapplebobapple 2y ago
It just doesn't work though mathematically. If you take my home country of Canada, giving 40k a year to every person 18 and over would cost around 1.3 trillion (assuming a modest 3% admin cost) vs a current federal budget of around 400 billion, with the provinces it's likely around 1 trillion. SO just to fund a ubi that would not be very comfortable for anyone to live on, especially with a family, would require raising 30 % more revenue. This does not account for the large percentage of the budget that is just not cheaper to provide privately through individuals paying from their ubi (i.e. military, healthcare, policing, transport, protection of public forests, regulation of food and drugs, education). even if you cut all levels of government spending to the bone leaving only the stuff it makes complete sense to provide communally, you are left with maybe 300 billion (but likely much lower because I haven't analyzed the cost of promised retirement benefits at all), which is roughly 9k per year per over 18 person, which isn't enough to come anywhere near the numbers supporters of UBI want. That means much higher taxes but our taxes are already insane and so will likely not extract that kind of money from the populace, especially when they are being incentivized not to work with a 9k check each year, most of us will tell the government to pound sand and just cut our work hours.
- singpolyma3 2y agoOur taxes in Canada are a bit low, especially on the wealthy. However your argument seems to stem from "if we give it to everyone and cut nothing where does the money come from". Well, a part of it comes from all the welfare programs it replaces (OAS, Ontario Works, etc) and a huge amount of it doesn't really exist (since for the vast number of people you'll tax back 100% of it anyway). For the amount that's left, yes, one needs to choose a funding strategy. A real policy play with all the data available would have the needed numbers to begin to decide what that looks like