I don’t see how a city like South San Francisco can possibly pay for this. SSF has an annual budget of about 114 million, and a little over 67000 residents, which would fund a UBI of only $140 per month even if the entire budget went only to UBI payments (i.e. no police, fire, city services, employees, pensions, maintenance, etc…).
The theory of UBI assumes that it’s a huge redistribution of income, but almost no city has a personal income tax on its residents, let alone one high enough to make any significant universal payment possible, so there’s no real […]
Full Post at www.reddit.com