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Comment by olalonde

2 days ago

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.

How can you not see that if everyone gets X amount of UBI, the cost of everything goes up until you can no longer live on X.

It is such basic economics I just can't believe we even have these debates.

It is something I would have thought of when I lived with my parents as a clueless teenager.