A basic income could boost the US economy by $2.5 trillion

#1

Post by rbanffy » Mon, Nov 27, 2017, 3:53 PM UTC

A basic income could boost the US economy by $2.5 trillion
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Re: A basic income could boost the US economy by $2.5 trillion

#2

Post by AznHisoka » Mon, Nov 27, 2017, 4:04 PM UTC

" enacting a UBI and paying for it by increasing the federal debt would grow the economy (and increase GDP)"

Printing trillions and trillions of dollars of money would increase the debt and increase GDP. Let's do that too!

Re: A basic income could boost the US economy by $2.5 trillion

#3

Post by bluetwo » Mon, Nov 27, 2017, 4:04 PM UTC

The only place I can think of that has done something similar is the oil and land rights of the native people of Alaska, who get checks somewhere in that range. How has this turned out for them?

Re: A basic income could boost the US economy by $2.5 trillion

#4

Post by craftyguy » Mon, Nov 27, 2017, 4:05 PM UTC

At a cost of $24 trillion? Ha!

250m[1] * $1000 * 8 * 12 = $24,000,000,000,000

1. http://datacenter.kidscount.org/data/tables/99-total-populat...

Re: A basic income could boost the US economy by $2.5 trillion

#5

Post by atonse » Mon, Nov 27, 2017, 4:08 PM UTC

craftyguy wrote: post #4

At a cost of $24 trillion? Ha! 250m[1] * $1000 * 8 * 12 = $24,000,000,000,000 1. http://datacenter.kidscount.org/data/tables/99-total-populat...

What's the 8 for?

250m * 1000 * 12 = $3 trillion.

Re: A basic income could boost the US economy by $2.5 trillion

#6

Post by maxerickson » Mon, Nov 27, 2017, 4:10 PM UTC

atonse wrote: post #5

craftyguy wrote: post #4

At a cost of $24 trillion? Ha! 250m[1] * $1000 * 8 * 12 = $24,000,000,000,000 1. http://datacenter.kidscount.org/data/tables/99-total-populat...

What's the 8 for? 250m * 1000 * 12 = $3 trillion.

The 8 years that the growth in the headline takes.

Re: A basic income could boost the US economy by $2.5 trillion

#7

Post by alextheparrot » Mon, Nov 27, 2017, 4:10 PM UTC

atonse wrote: post #5

craftyguy wrote: post #4

At a cost of $24 trillion? Ha! 250m[1] * $1000 * 8 * 12 = $24,000,000,000,000 1. http://datacenter.kidscount.org/data/tables/99-total-populat...

What's the 8 for? 250m * 1000 * 12 = $3 trillion.

The original growth number is over 8 years

Re: A basic income could boost the US economy by $2.5 trillion

#8

Post by [deleted] » Mon, Nov 27, 2017, 4:10 PM UTC

bluetwo wrote: post #3

The only place I can think of that has done something similar is the oil and land rights of the native people of Alaska, who get checks somewhere in that range. How has this turned out for them?

[deleted]

Re: A basic income could boost the US economy by $2.5 trillion

#9

Post by [deleted] » Mon, Nov 27, 2017, 4:10 PM UTC

maxerickson wrote: post #6

atonse wrote: post #5

Earlier quoted context omitted.

What's the 8 for? 250m * 1000 * 12 = $3 trillion.

The 8 years that the growth in the headline takes.

[deleted]

Re: A basic income could boost the US economy by $2.5 trillion

#10

Post by sergiosgc » Mon, Nov 27, 2017, 4:14 PM UTC

bluetwo wrote: post #3

The only place I can think of that has done something similar is the oil and land rights of the native people of Alaska, who get checks somewhere in that range. How has this turned out for them?

There's also native American communities receiving casino licensing rights. There are quite a few news articles about those cases, in the perspective of extrapolating UBI effects. Here's one such article: https://www.wired.com/story/free-money-the-surprising-effect...