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None of the universal income proposals have any math to back them up. Simple napkin estimates show it's nowhere near affordable. "But people are rich!" is not a
by dreamdu5t 13y ago
None of the universal income proposals have any math to back them up. Simple napkin estimates show it's nowhere near affordable. "But people are rich!" is not an explanation. "We can draw on labor" is not an explanation. I want an explanation that actually demonstrates the affordability of such a thing. Not hand-waving about how we just aren't trying hard enough.
Can the people proposing a basic income please demonstrate how much they want to give and how much that costs? Then point out how they would fit it into the existing budget?
Also, please explain why prices would not react to a basic income? If $40,000 represents the price of doing nothing, other prices will change to respond to real not nominal costs. It doesn't seem like people proposing the basic income understand how prices are formed.