What Would An American Renaissance Look Like?
Tony Stubblebine
5914

Ok I see that the proposal is to give every one $11k — man woman and child. This is about the same as minimum wage of $5/hr.

Consequences:

This is 20% of the GDP or $3.6T. I assume the government would cancel benefits to the poor, reduce social security. I don’t think these steps will finance this plan. Social Security is $20–30k per year and you could reduce it but can’t discontinue this. They would not cancel or reduce Medicare, this would discriminate against the poor.

Everyone a little richer. They received money “they don’t deserve or earn” Government might have to raise taxes. It doesn’t make sense to tax the $11k so rich pays more.

I assume that people would continue working and getting paid, although this change might discourage people from working. A job at McDonalds might not be as desirable.

People might start having more children. Mom Dad and 4 kids gets $66k. This adds up to real money

Initially employers would pay the same salary as before this change. In this case this money becomes inflation ( more money, more spending, prices increased) But maybe employers would reduce salaries probable slowly, thinking that the $11k is part of the persons earnings. This could be prevented by law maybe.

I apologize — this is rambling. Key thoughts 1) higher taxes 2) inflation 3) higher prices 4) social services don’t change much. In the end not much changes or are worse.

Better and more interesting to give money only to the poor and unemployed. These people need the money.

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