We have 320 Million citizens in the US - if we gave every citizen $1,000/month, $12,000/year works out to $3.84T/year.
As soon as you start shaving off income levels, you eventually wind up looking at the Federal Poverty Level as a useful cut-off, and it turns out there are probably about 10% of Americans live under the FPL [census.gov], so that comes out to $384BN/year. Where are we going to find that $384BN/year?
We find trillions when it suits us. A few hundred billion is nothing if it means we can kill a few people in the desert or give large corporations massive tax breaks.
In your scenario, a wealth tax of 2% >50M and 6% >1B would take care of it.
Not only that, he was doing dishonest accounting anyway.
Nobody is planning to give UBI to 100% of the population and let everyone keep it, no matter how rich they are. Every single plan has ways to recoup that in taxes from people making over the poverty line. The idea is that since it's automatic every month, if you lose your job one month, that money is still coming in. You don't have to jump through hoops to get it. All that happens is that you no longer have an income to tax to recoup the money, so you
So, your point is that UBI is not universal? Then why is there a U an UBI?
Now you're learning how socialism works. It starts off being about everyone, but quite quickly becomes only for special interests. George Orwell covered this in one of his popular books.
Not UBI (Score:5, Insightful)
So by definition, it's means-tested. It's normal benefits and welfare, not UBI.
Re: (Score:2)
UBI is a massive troll-meme anyway. It would wreck entire national economies, and destroy productivity.
Re: (Score:3)
We have 320 Million citizens in the US - if we gave every citizen $1,000/month, $12,000/year works out to $3.84T/year.
As soon as you start shaving off income levels, you eventually wind up looking at the Federal Poverty Level as a useful cut-off, and it turns out there are probably about 10% of Americans live under the FPL [census.gov], so that comes out to $384BN/year. Where are we going to find that $384BN/year?
Re: (Score:1)
We find trillions when it suits us. A few hundred billion is nothing if it means we can kill a few people in the desert or give large corporations massive tax breaks.
In your scenario, a wealth tax of 2% >50M and 6% >1B would take care of it.
Re: (Score:2)
Not only that, he was doing dishonest accounting anyway.
Nobody is planning to give UBI to 100% of the population and let everyone keep it, no matter how rich they are. Every single plan has ways to recoup that in taxes from people making over the poverty line. The idea is that since it's automatic every month, if you lose your job one month, that money is still coming in. You don't have to jump through hoops to get it. All that happens is that you no longer have an income to tax to recoup the money, so you
Re: Not UBI (Score:1)
Re: Not UBI (Score:1)
So, your point is that UBI is not universal? Then why is there a U an UBI?
Now you're learning how socialism works. It starts off being about everyone, but quite quickly becomes only for special interests. George Orwell covered this in one of his popular books.