A universal basic income, with the government providing, say, $1,000 a month to each and every American, is impossible. It would cost too much.
That is the most common objection to the idea of universal basic income, or UBI, which is growing more and more popular every year. Chicago is proposing a UBI trial, Barack Obama is signing on to the concept, and other pilots are ongoing around the globe. Providing $1,000 a month to every citizen would mean spending something like an additional $3.9 trillion a year. That is equivalent to one-fifth of the American economy — and […]
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