An idea that has garnered support across the political spectrum, universal basic income (UBI) would provide people with minimum amount in annual pay, despite them not having a job.
While that proposal may, as sociologist Charles Murray argued , allow the United States to downsize its massive welfare state, it would also cost the nation trillions of dollars per year.
Investment management firm, Bridgewater Associates , estimated that providing UBI in the U.S. would cost about $3.8 trillion.That constituted 78 percent of all tax revenues and social insurance contributions, as well as 21 percent of gross domestic product.The group arrived at […]
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