I continue to open these essays and read them, in hopes that someone has done the economic analysis of the potential. In other words: where does a country the size of the US get an additional $1.5T per year to pay everyone a livable wage just for existing?
And that $1.5T per year is a conservative estimate. It assumes cost savings of replacing our market-based healthcare system and Medicaid with a Medicare for all model, and UBI replacing welfare and SNAP.
Because you are now covering everyone, these programs now cost proportionally more. In addition, we will experience a lower percentage of people working, and paying income tax, which means a lower, not higher, gross revenue for the government.
When someone comes out with a rational economic analysis detailing where all that extra revenue comes from, I’m on board. Til then, it’s a fantasy.