Simon Smith’s Post

Where does the money come from? Someone has to pay it in taxes.

Instead of letting corporations influence economic policy or letting tribalism dominate the debate, let’s consider how UBI could be funded. Many social programs are seen as unsustainable or overly political. If UBI becomes the next major program consideration, rather than having it controlled by bureaucrats who use it as a political issue every election cycle, could we fund it through: - Natural resource extraction, similar to Alaska’s model? - Charging interest to nations where we act as global police? - Taxes on companies replacing American jobs with AI? What other sensible funding options could we explore?

UBI is ONLY feasible if all other direct payment, government programs are eliminated. That would never happen. Other big problem, inflation. I'm sure the same experts who said it wouldn't happen 2021-present would assure us otherwise, but who trusts them?

When I look at every meaningful advancement in my life, they were all driven by one thing: Financial need. If that were removed or reduced from my past, my accomplishments would have been significantly less which also means that my marginal productivity would be significantly less. Decreased marginal productivity equates to less economic production. Now multiply that impact by at least 80% of the U.S. workforce and imagine the result. UBI, if attempted, will turn into this country's largest case study of unintended negative economic consequences.

70% of the US economy is consumer-driven. Despite widely held beliefs people are not using the money to buy drugs and X-Box games. They use the money for necessities like rent, food, and healthcare. That's money that gets injected right back into the economy. A rising tide lifts all boats. Historically speaking, China is competing with us from the future.

Simon, do we think it lacks perspective if the survey is limited to the highest potential individuals within a subset of a population? My challenge ultimately with 90% of the survey’s, studies and data sets, is everything feels manipulated to the objective at hand - which here picked a specific age range (21-40), that is just on the cusp of entering middle class (can’t be receiving SSI/disability…etc) and receiving limited aid (must be working and employed) would it have been better to spend the $36k per person on a 6 month education program to guarantee them a job making $50k or more….meaning teach a person to fish?

Stupidest idea ever, all this does is incentivize more people not to work, why work when you can get free money. Why should I have to pay for the lazy who don’t wish to do anything 🙄

If you are talking about taxes as a forced redistribution of income, then this is theft. Sounds like a great idea, with the best of intentions, what could possibly go wrong?! Cutting federal spending by 50% and putting more of our own tax dollars into our own pockets is the way to go.

I will share my experience donating plasma in 2020/2021. You get paid for that. When I first started lines were fairly long. Then there was a period of time I could walk right in, no line, get it done quickly. I asked a worker where is everyone. Was told they are getting their stimulus checks and was also tax refund time so they have money now so they stop coming. Very long lines returned after the free money ran out. Seems to me the responsible thing to do would keep donating and accumulate more money. One unintended consequence of implementing a basic income welfare program is a plasma shortage.

Simon, No need of studies to show that it doesn't work. Visit (or live in) Belgium that I know very well, being a former Belgian citizen. UBI is called "RIS " or Revenu d'Integration Sociale". About $1000 ( 860ish Euros) per month voted by left-wing parties 25+ years ago The results are disastrous: Labor market distortion, "real" unemployment rate going through the roof, kids dropping off school, and as a paradox, multiple job positions that can't be filled. Belgian debt is out of control and industrial production is down. The latest election results are, for the first time in 35 years, bringing right and far right wings back to power. Too late. You can't easily wean a population used to free (tax payers) money. If you carefully read Sam's between the lines :" AI is killing a huge chunk of white collar jobs and meanwhile, Sam is going to make a hell lot of money out of it. So, the taxpayers money will have to balance the sheet. We are sorry, but business is business". There is a change of paradigm in labor market. Blue collars are taking a revenge long overdue. But if Sam wants to get the cake and eat it, it is not going to work. And if he wants to apply for a Belgian work visa, I can help him too.