For fun: consider Universal Basic Wealth (UBW)
Give everybody $1M at 22. Call them Basic Millionaires.
3.9m Americans were born in 1996. The bill this year would be 3 trillion, or about 21% of US GDP, comparable to federal budget.
Speculations? In what world would this work?
Conversation
Did you seriously consider what incentives this sets for lifestyle and having children for all the different segments of society and its development over the next few generations?
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Interesting question there. There might be a virtuous selection effect to counter gambling. Anyone who wants to place a bet on a million dollar payday by buying a baby lottery ticket today is likely too foresighty to be a deadbeat
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Depending on who’s included or excluded, either being an immigrant kid would be really horrible, or the incentives for immigrating to the US would become 100x more irresistible than they are now
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There was a thing pmarca tweeted once about a study on massive windfalls. They are often used quickly and it went on to suggest it was due to a lack of experience budgeting & habits from hand-to-mouth behavior. Releasing funds over time and/or counseling made a big difference.
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Do you want hyperinflation? Because that's one way to get hyperinflation.
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I would imagine some people would spend a lot of time planning like they do for college admissions. There would be orgs that would be predatory in how they ‘help’ with this.
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I mean a huge problem is that this would wipe out the federal budget just for those 3MM ppp, what about all the other services & care for all others of all other ages (welfare, education, etc)
Unless I’m misunderstood it doesn’t seem to make any sense at all! 🤔
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