Re:Universal Basic Income Is Not Feasible
by prepend on Thursday April 26, 2018 @08:35PM
(#16937435)
How is the current reality not feasible? It seems rather successful or at least sustainable in hundreds of cultures.
Economically, the current system has flaws but is self-sustaining. UBI at even low levels like $10k isn’t possible unless you somehow double tax revenue. For example 330M in the US = 3.3T. In 2017, the total revenues were 3.4T [1]. So just for basic levels, revenue would have to increase and that would really hose the economy and you would be able to raise 6.7T for very long.
Economically, the current system has flaws but is self-sustaining. UBI at even low levels like $10k isn’t possible unless you somehow double tax revenue. For example 330M in the US = 3.3T. In 2017, the total revenues were 3.4T [1]. So just for basic levels, revenue would have to increase and that would really hose the economy and you would be able to raise 6.7T for very long.
[1] https://www.thebalance.com/u-s-federal-budget-breakdown-3305...