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by dispose13432 3453 days ago
The thing with basic income is that I'm not sure it's currently practical:

The US has a bit over 315 million people.

To pay everyone minimum (barely livable) wage, every person should get $15,000 ( http://poverty.ucdavis.edu/faq/what-are-annual-earnings-full... ). That's $4.5 trillion per year.

The GDP of the US is 16.77 trillion.

So unless we have close to 100% tax on above-(federal) minimum wage, UBI won't work.
2 comments
gpm 3453 days ago
If we're comparing free food to basic income, the comparison should be against basic income that's just enough to feed yourself. Somewhere around $1000/person.

Even if you want full basic income, I'd argue that $15,000 is high. As a (Canadian) student in an expensive city my living expenses (everything but tuition) are easily under $10,000 USD. Using the numbers you linked we're almost certainly talking about less than $8,000/person to keep everyone above the poverty line (the exact number depends on what the average family unit looks like, which I don't know).

(All numbers per year)

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dispose13432 3453 days ago
> my living expenses (everything but tuition) are easily under $10,000 USD

You rent a room or have a few room-mates?

New York (which has skyscrapers) average rent is $3000 a month for a one bedroom apartment.

https://www.timeout.com/newyork/blog/map-of-average-rent-by-...

There's a reason minimum wage is so high, and it's not because the government is so generous.

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gpm 3453 days ago
I have a roommate (which really means shared kitchen, separate bedrooms and bathrooms).

New york is a really expensive place to live, the conclusion is that people who are relying on only basic income shouldn't live there. Likewise living alone is expensive. The conclusion is people living only on basic income shouldn't (especially if they are living somewhere which is already well above average pricing wise). Basic income isn't "everyone lives a luxurious life", it's "everyone can afford food, clothes, and a roof over their heads".

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hx87 3453 days ago
Most of the GDP doesn't go to wages, so it's silly to tax wages to fund a UBI. UBIs are only necessary because more and more GDP goes to capital gains, so capital gains, not labor should be the tax base.
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