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by JonFish85
3119 days ago
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Outside of the "how to pay for it" question (which has never been addressed beyond vague "tax the rich" promises) there's another problem: how to save people from themselves. One could think of this as an annuity, and try to cash it in for total cash value today (e.g. lump sum payment): get $200k today, and sign over the rest of the checks you get for life. Then what do you do with bankrupt folks? Sorry, you had your chance, now you starve in the streets? Of course not -- so you still need another safety net for those people. |
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The institution of bankruptcy already answers, in general outline, the question of what to do with bankrupt folks: in short, cancel debts that aren't payable without excessive hardship. UBI should obviously be payable only to the beneficiary (except in the case of legal incapacity), who might contract to pay an equal amount to someone else, but such a contractual liability would be as subject to cancellation in bankruptcy as any other debt.