Getty Images/iStockphoto Well the money has to come from somewhere!
Doling out a Universal Basic Income of $12,000 a year to every American citizen would cost taxpayers $3.8 trillion, according to a new study by investment management firm Bridgewater Associates.
That’s roughly one-fifth of the nation’s entire annual economic production — or 78 percent of all the taxes collected for social programs, according to Bridgewater co-chairman Ray Dalio, who published the study “Primer on Universal Basic Income” to LinkedIn on Thursday.The premise of UBI is that every citizen receives regular, no-strings-attached payments from the government that, when paired with minimum-wage work, […]
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