[semigeek]

Honest question; what numbers are you using to say it's a comparable amount? My quick search shows total 2016 expenditures of ~$3.9 Trillion. If you assume welfare is everything non-interest & defense related, that's about $3 Trillion; there's other non-welfare lumped in that number, but let's just use it anyway. That's $9,250 per person.

[zanny]

Almost every discussion about basic income comes to talking about it as a monetary black hole where you pour trillions in and your society has no reasonable expectation of return, much like military spending.

That is not at all how it works. A basic income within reason would almost always be an economic growth mechanism by transferring money from investment class to consumption class. The market for the guaranteed needs of an adopting nations population would be an incredibly large, incredibly stable business center for competition and innovation, and it would increase market participation by eliminating the barrier to entry that is currently made by gated welfare.

Of course we need long run, wide spread, UBI experiments. If all you are talking about is "what if" any reasonable scientist would balk at the conversation. But if you take historic evidence - that giving the poor money makes them, by overwhelming margins, and on average, spend it on their needs in predictable, immediate ways, you would be getting similar economic motivator returns on UBI taxes as you would on some forms of infrastructure.

And by comparison, infrastructure projects also considered a net positive policy because the money made by businesses using your infrastructure vastly eclipses the costs of building and maintaining it. UBI works the same way, by creating stable demand for the necessities of life, and providing the means for a similar force multiplier in people wanting to contribute optimally to the economy by their own judgment than by the will of money in the hands of others for those individuals profit. Because sometimes, making a major stakeholder in a company richer does not mean the greatest source of economic growth for the society as a whole compared to the entrepreneurial potential of every citizen presently bound to that model.

[hueving]

>transferring money from investment class to consumption class.

That's not nearly enough to cover it. The top 1% has 38% of the wealth. In 2009 total wealth of US was 55 trillion[1]. That leaves us 20.9T to spread around 315 remaining millions. That's about $66,300 per person from our anti-rich crusade. Not a bad bounty, but that's a one-time prize. How do you intend to fund UBI for anything longer than a trivial amount of time (<5 years) with such a small sum?

1. https://en.wikipedia.org/wiki/Wealth_in_the_United_States#/m...

[oldmanjay]

If you're under the impression that military spending has no expectation of return at all you aren't looking at things realistically.

[PKop]

What about price inflation amongst these necessities resulting from immediate increase in money supply within poor population? I can't understand how this wouldn't be an issue... Would housing prices not rise accordingly, for example?