Strategies & Market Trends : Universal basic income (UBI)

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To: Glenn Petersen who wrote (123)9/20/2017 10:09:47 PM
From: TimF   of 216
"cannibalizing" other arms of the government is a feature, not a bug.

Agree but I'm not sure its enough.

I briefly supported basically the same thing.

But now I don't see it as practical. Part of that is political, but I"m quite willing to entertain or even endorse political ideas I don't think will get enacted. It goes beyond that, there just doesn't seem to be the money available.

If you just take the welfare programs, and take that money and divide it among everyone, then even with the saved overhead your still going to have a paltry some for each.

If you fold in Social Security, both retirement and disability, and other smaller non-means tested transfer programs ok then you have a lot more money but a lot of retirees are going to take a hit. Also what would transfering SS mean exactly. If you mean taking all the current SS spending, well remember SS taxes don't cover the spending now, and current law calls for cutting it about 25% in less than a couple of decades when the nominal value of the trust fund runs out. Are you going to have a big cut in the UBI in a decade or two?
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