I'm now beginning to have a conclusion about UBI: there's no way the U.S. can afford to do it.
Now that I have some idea of the nature of what UBI-ers want -- universality of the UBI payments and something greater in sum by a large amount than Alaska's payout -- I don't have to think too hard to know we haven't anything close to the kind of money it'd take to do that.
Come on now....The U.S. population is ~318M people . That means whatever sum is envisioned must be multiplied by 318M.
- 2014 Federal Tax revenue (all forms): ~$3T
- 2104 State Tax revenue: ~$0.85T
- 2014 SSI collections: ~$0.88T
- Total income based collected tax revenue (not including excise taxes): ~$4.65T (~$14.6K per person)
So, do the math and tell me:
- What share of our total tax collections are you willing to allocate to UBI?
- What strikes you as a reasonable tax rate increase in order to fund the UBI?
- How much strikes you as a reasonable initial UBI to provide to each person?
I'm not even opposed to a hike in my tax rates to fund a UBI. That said, I'm not about to accept going from ~40% to ~80% either. In fact, I won't find acceptable any total tax burden greater than or equal to 49% of my income. I'm sorry, but if I work, I damn sure had better get to keep (not pay to the government) more than half of what I earn.