QwertySomething t1_j3cigyj wrote on January 7, 2023 at 4:17 PM

Reply to comment by FinalJuggernaut_ in I asked chatgpt to write a UN resolution in favor of universal basic income, and this is what it returned. by AnneBancroftsGhost

Tldr...its complicated..

ChatGPT had this to say: Funding Universal Basic Income

HOw can the United States generate funding for a universal basic income?

There are a few different ways that the United States could generate funding for a universal basic income (UBI) program. Some potential options include:

Taxes: The government could fund a UBI program through taxes on income, wealth, or consumption.

Government spending: The government could redirect existing spending on social welfare programs towards a UBI program.

Government borrowing: The government could fund a UBI program by borrowing money, either by issuing bonds or by increasing the national debt.

Private donations: Private individuals or organizations could donate money to support a UBI program.

Public-private partnerships: The government could partner with private companies or organizations to fund a UBI program.

It is worth noting that implementing a UBI program would likely involve trade-offs and difficult policy decisions. For example, increasing taxes or government borrowing could have unintended economic consequences, and redirecting existing government spending away from other programs could be politically controversial

ChainmailleAddict t1_j3clg0o wrote on January 7, 2023 at 4:37 PM

UBI could probably replace several existing programs like food stamps or even social security, at least partially. It's also the only way forward if our jobs continue to be automated.

ButterflyCatastrophe t1_j3crag3 wrote on January 7, 2023 at 5:16 PM

Most of the arguments I've seen for UBI replace ALL means-tested programs - Medicaid, EITC, Child tax credit, SNAP, etc - which come to around $800B. Some also propose it to replace non-means-tested programs - Social Security, Medicare - which add another $2,000B. $16,000 UBI for 250M adult Americans costs $4,000B/year, so it's kind of in the right ballpark, if you include SS/Medicare.

But this ignores that replacing current retiree benefits of ~$19,000 Social security plus $11,000 Medicare with just $16,000 UBI will be a huge burden on a very vulnerable population.

Dedjester0269 t1_j3cpbiw wrote on January 7, 2023 at 5:03 PM

Great! "Government borrowing". Not like 30 trillion+ national debt is a thing.