Time to bring back an old thread....
Currently, our social security budget is $900 billion per year to cover 60 million people, that means they receive an average of $15,000/year, or $1,250/month. If we applied this to all non-children for a universal basic income it would cost 3.74 Trillion(however I assume we would give a partial amount to children, probably bumping that up to 4 Trillion). This could get rid of spending on social security(although many would be against it, as it would be reducing some peoples benefits, and giving benefits they worked for to everyone, even those who don't work), as well as our income security(unemployment, disability, nutrition assistance, etc.), which together currently cost 1.2 Trillion, we would have to find a way to come up with another 1.54 Trillion if we don't give any benefit to children, and another 1.8 Trillion if we give them a partial benefit. We wouldn't get rid of Medicare or Medicaid, because even if we provide them with their basic necessities, we will still provide the elderly and less fortunate with affordable health care. So we would need to find somewhere else to get that money, you could say cut the military! But even if you completely cut the military, which costs $586 Billion per year, you would still need another Trillion or more(and this would never happen anyway). The bottom line is, it's not currently possible in the US. One thing I find funny, is that the same people arguing that this would work, are also for Sanders, who also suggests things that are implausible. What if they tried to combine the two? Medicare for all, Free four year public college for all, Universal Basic Income for all, etc. etc. etc. Currently we already have a higher national debt than our GDP, not even including our unfunded social security and medicare liabilities. We need to focus on ways to decrease spending, federal spending that the US could live without, plausible ways to increase taxes with the smallest impact to our economy, ways to increase our GDP, etc.
You are making the big error most people do if they talk about an UBI, because we all are used so much to it.
You talk about the money.
But money is just a measurement. In this case of the distribution of the national taxes on national production. Your are looking at the means, not the target.
If you want to know if an UBI is possible in country X (and approximately to which amount) look not at money, but at production.
Is the US able to feed, clothe, shelter and medical support every single of its citizen?
Without much research I am quite sure the answer is yes, because you are already (for the most people) are doing that and still have production left for an impressive amount of luxuries (and stupidities like clown car driving).
So yes, an UBI is possible (target). The remaining question is only how to distribute your wealth (means).
And that is the part where most people get aggressive because they fear they will lose something material, either benefits or paying higher taxes (do you pay more taxes then 1250 dollar a month currently? and if yes, would paying more be sooo bad on your financial health in a mustachian life?)
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For the Sanders comment: I am not into the details, but putting an UBI aside and taking only an conditional basic income - then about 2 dozen countries are already doing most/all of what you mentioned, so it cant be that impossible.
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If we stop looking at the means (money) and start looking at production and distribution (and creating an UBI), we could also start working
towards automatisation instead of trying to prevent it. Self-driving cars will mean 80% of taxi drivers and car producers will lost their jobs?
GREAT! is what you would say then. Instead, today, it is a tragedy.
Just 200 years ago about 75% of people worked in the field of growing things on fields. Today its 1% of that. Automatisation and technical advancement.
Just 50 years ago there were whole buildings in big companies only doing the bookkeeping. Today you have a room full only.
And so on.
Our production capabilites per work hour today are bigger then we need for an UBI. And they could easily be increased 2-3 fold (for
all work until 2050.
About a century ago John Maynard Keynes - you probably know him as the most influential economist of the first half of the 20th century, or as the archenemy of neoliberals - predicted that in 2000 everyone would only work 15-20 hours a week because of increasing efficiency.
Was he completely wrong, since we still do the 40/48 hours a week? Did our production per work hour not increase?
No, it did. So why was he wrong? There are things he could not know because they didn't existed - TV and the whole modern movie industry for example. But that amounts only to a small part of the missing hours.
Mostly the reason is: We did not use the increase in efficiency to work less, but to produce more. House sizes quadrupled in the US while the number of people living in one house dropped. Everyone has a car and flying to other parts of the world once a year or more often is normal. And so on.
But this cant go on. We are already using nearly two "earths" every year - with just 1/6 of the population living a spendypants life. If humanity wants to survive (without a big catastrophy and only a few survivors) then we have no other choice then to use the efficiency gains to use less resources instead of producing more, which will result in job loss.
But under the current protestant-capitalistic model (only he who works shall eat) that is impossible.
The only way I can see to prevent this catastrophy is an UBI (or something very similar). The good part is: an UBI is possible, as I have shown above, and will be easier with every increase in efficiency.