My support for UBI is continuing to increase. But how can we realistically pay for it? If you are a progressive and a supporter of M4A or even a public opinion, how can we afford both? Not to mention other goals like infrastructure. Yang plan to pay for it doesn’t add up imo. Can some of y’all that study this issue educate me on how we can pay for this?
How Can We Realistically Pay for UBI
- Thread starter A.R.$
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CEO of Morgan Industries
Superstar
I think it'll be a combination of higher taxes on the 500K+ income crowd, higher capital gains taxes, and taxation of all automated units that are replacing workers (that last one of which is a Bill Gates suggestion that makes sense).
It’s a redistribution of wealth. The rich are hoarding money. Tax it away from them
I seen this as part of Yang’s plan. I guess I’m not convinced that is enough funds to pay for $12,000 a year for every American over the age of 18. Do you think that is enough to cover the cost of UBI?
Supercoolmayo
Superstar
Everyone taxes are going to have to increase, everyone
CEO of Morgan Industries
Superstar
I would guess that it'd partially depend on how we define "automated units" because I'm sure how we count them would be key. Do we count ordering kiosks at a fast food restaurant or at a private postal service location? Do we count them individually or just by stores that have at least one? How do we count one master order processor that then controls thousands of manufacturing arms?
AnonymityX1000
Veteran
I thought Y ang said having companies like Amazon, Netflix, google pay federal taxes was his plan to pay for it?
Armchair Militant
Stay woke
Taxing the rich won’t produce enough money. Yang’s plan would increase taxes on everyone.
Depends who implements it...if the left does, i have no idea... simply taxing the rich wont work. Every cent from Bezos(as someone mentioned) wouldnt cover it.
I know that is part of the answer but UBI would cost about $3 trillion a year. The roughly the same cost as M4A. I don’t see how we can have both, along with updating our infrastructure, and other goals like some form of the green new deal. I know some people believe in modern monetary theory, but even that has its limits. If we are ever going to gain power as progressives, I think we are going to have to have better answers on we can make these goals work. If not the public will continue to look at us like we are unrealistic. I want us to be able to convince the public we can make these policies work.
What are some other ways to implement it?
That would help, but that won’t add up to $3 Trillion a year.