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It isn't a coincidence that billionaires love this plan. Workers will still have to work for them in order to live, and pay their landlords for shelter. Property values will go up. Business costs will go down. Workers will not be empowered.
The plan will cost three trillion, almost the entire federal budget, including social security and medicare. Every benefit that aids the poor will have to go, or your taxes will have to double. The poorest people who need the most help will end up worse off.
Every year Americans pay half a trillion in rent. Why not start with universal free public housing? Because it harms wealthy property owners. UBI advocates want a future where the rich remain in charge forever and the poor get the scraps.
Gross costing of UBI is a meaningless number. Only the net cost has a meaning to describe a program where people pay money for money. Does it cost $100 or $60 to buy a hundred dollar bill for $60? Neither. You'd be up $40. Do the actual math.https://medium.com/basic-income/the-cost-of-universal-basic-income-is-the-net-transfer-amount-not-the-gross-price-tag-acb8aa5eab73 …
this is incredibly cynical and doesn't match up with actual UBI plans. talking about slashing benefits is silly when UBI is a massive benefit! some people's tax will go up, but not those who need UBI the most
Very few supporters of basic income want to see cuts elsewhere. Andrew Yang, for instance, is committed to making sure no one gets less support. All current programs have huge numbers of people who should receive the benefit but do not. This will reach them.
It will not cost $3T. And it is opt-in. On top of that by implementing a VAT and excluding basic consumer staples + UBI, those who are wealthy will pay way more “into” this than someone who has a lower income. Becoming more a progressive tax than regressive if VAT was alone.
This is speculation, there are other more likely outcomes imo, but they are speculation too. However thank you for raising an angle I hadn't thought of.
"Or your taxes will have to double" The top 20% ('upper middle class' and up) pay the vast majority of taxes. If you're opposed to a tax increase like this your interests align with the rich
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