Comment by paxys
1 day ago
I just posted the number that entitlement programs currently use, and it is under $1T. So you're basically saying "it's easy to implement UBI, we just need an extra 2.4T/yr lying around somewhere" (which is equivalent to 1/3 our total budget). Scale it up to realistic numbers (no one is surviving on just $13K/yr, plenty of people need more than just average support e.g. for medical conditions) and you're easily talking $5T+.
It wouldn't be very comfortable, but yes - it's possible to live on that amount. Many people on disability do so today. If it's not enough and you're unable to work, you'd have to rely on savings, family, or charity. And yes, the idea would for UBI to account for over 50% of current government spending and to get rid of most existing government programs (except core functions like military and law enforcement). That’s why I ended my original comment with "it would require a total rethinking of the role of government."
By the way, I think you're overlooking the strongest criticism of my UBI proposal: that it would reduce the incentive to work, potentially lowering labor participation and, in turn, government tax revenue, which could make the system unsustainable. It's hard to predict whether that would be a real problem or not.
Or we'd have to raise taxes by 2.4T dollars. Which isn't as extreme as it sounds, since we're at the same time giving everybody money. If 2/3 of the amount of UBI is paid for with increased taxes, the average taxpayer will come out ahead. "We're raising your taxes by $10,000" doesn't sound as bad as when accompanied by "and here's a cheque for $13,000". Bill Gates' taxes will go up a lot more than $13,000, but the average taxpayer will see a very small benefit.
The other benefit of raising taxes is that it will control inflation.
And $13K/year isn't enough to live on, yet many disabled people do just that. 4 people each getting $13K can probably live together on that. Living alone is a luxury.
And with UBI, there are no limitations on you supplementing your income on the side. One of the biggest criticisms of UBI is that everybody will stop working. If UBI is $13K/year pretty much only those who are unable to work will not supplement their income with work.
Or I could just keep my money instead of sending it to the government just so they can send it back to me. Cut out the middleman.
That's called a negative income tax, and it can be almost the same as a UBI. There are pros and cons. For instance, if you lose your job, you have to wait until next April before you get your NIT money.
> no one is surviving on just $13K/yr
There are many countries around the world where that would be normal, or even a sign of affluence.
We aren’t talking about many countries around the world, just one