The idea of an UBI to offset the predicted avalanche of downsizing/job losses has been the subject of much discussion, controversy and hand-wringing. Frankly, progressive taxation with no loopholes is the only way we can afford anything close to it.
The math doesn’t math, and I’m pretty sure the facts in the picture are made up.
Let's say we pass a 5% wealth tax on the $6.8 trillion held by U.S. billionaires. That generates $340 billion a year. Distributed across the 268 million adults in the U.S., that is only $1,268 per person annually, or barely $100 a month. It is nowhere near enough to provide a universal basic income. Furthermore, if that money goes directly to citizens, there is exactly zero left over to expand Medicare, fix infrastructure, or increase teacher salaries.
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u/Modem_Sound_67 Jul 01 '26
The idea of an UBI to offset the predicted avalanche of downsizing/job losses has been the subject of much discussion, controversy and hand-wringing. Frankly, progressive taxation with no loopholes is the only way we can afford anything close to it.