Last Month in Basic Income… A Summary of April 2016
Scott Santens
653
Can You Explain How the Math Would Work?
Say in the United States we gave every person 10,000 a year (1,400 below what the government says counts as poverty level for a single person) UBI would cost 3.18 Trillion dollars.
That would be the entirety of the United States budget.
Even with the cost savings of eliminating unemployment, social security, and food stamps there is simply not enough money to pull it off.
Some say well you could make UBI progressive. Ask more of or give less to those above the median household income up to the millionaires. This would require bureaucracy as forms must be filled and incomes checked. Now your cost savings are gone.
Universal Basic Income is unsustainable.
I hate math. Is so stubbornly truthful.