Earlier quoted context omitted.
One way to think about it: we already have a basic income in the US. Nobody starves to death in the US. Nobody is denied medical care in the emergency room. In many places (though not everywhere), there are shelters where a person can sleep inside. There are food stamps and a patchwork of welfare programs. However meager they may seem, things like this amount to a form of universal basic income. Does it prevent peopl…
I am not trying to disagree at all, in fact I think we very much need to do more for the poorest among us, especially the kids. Where does that 30k come from though? For 300 million people, that's 9 trillion dollars a year, ~half of GDP. Inflation would be out of control, essentially Venezuela / Zimbabwe levels.
> In economics, a negative income tax (NIT) is a system which reverses the direction in which tax is paid for incomes below a certain level; in other words, earners above that level pay money to the state while earners below it receive money.
[1] https://en.wikipedia.org/wiki/Negative_income_tax
Edit: I'm not economically literate enough to say I fully support this, but the idea is appealing