California state lawmaker introduces bill to create universal basic income of $1K a month

This does not seem as though it is intended as a serious, viable bill with a chance of passing, and is more likely to be a bill meant only for political campaigning by its author.

Most importantly, I’m not sure how the proposed tax would cover the cost of the system generally, and seems to fail even order-of-magnitude approximations: California’s population is around 40m. Let’s assume, optimistically, that only 50% of the population would actually be eligible.

In 2019, sales tax collections at 7.25% were around $13b , so let’s optimistically assume that a 10% VAT would actually collect around […]

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