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this post was submitted on 06 Oct 2023
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And giving every person in America 12k/year would cost over 50% of the budget and produce almost no growth unless it was entirely funded by debt.
It might not foster dependency but it would be incredibly expensive.
It's over 3.5 trillion if given to everyone.
Source on the bottom 80% paying most of the taxes please?
Don't forget redirecting over half the budget to fund a UBI significantly alters the US economy.
If it isn't for everyone it isn't universal. Even at 2 trillion it would devastate our economy. We don't have that much free money in the system.
Now please provide a source on your claim that the bottom 80% pay most of the taxes as Im fairly certain that is not true.
You made the claim and Im asking for your source for that claim. Do you have one?
How would it not produce growth? Pretty much guaranteed that 100% of this money is spent back into the economy vs hoarded in investments
Because it is taken from the same economy. If I tax Bill $1 to give Bob $1 we didn't see any net growth. The only way it produces growth is if we gave Bob $1 but never collected $1 from anyone which becomes unsustainable in the long term.
And?
We cannot afford to ditch over 50% of the budget to replace it with a UBI that won't produce much if any benefit?
Ah, you assume it won't benefit people.
You're wrong.
No Im saying it will provide little to no net benefit to the larger economy whereas redirecting over 50% of the budget to give $12k/yr to everyone would be catastrophic to the larger economy. I suspect the economy tanking would end up hurting more than the 12k helps.
The only way UBI doesn't significantly harm the US economy, and to be clear Im talking about only the USA right now, is if the payments are either so small they don't help, the payments are not universal and are targeted towards those that need money, or if the entire thing is financed by increasing the national debt which is unsustainable over the long run. None of these are as beneficial as they seem.
Unfortunately I think you're arguing with idiots. You're right it wouldn't be able to be universal because it wouldn't change anything if it was, it would just be made up for somewhere else and the problem would be a can getting kicked down the road for someone else to deal with