Good point about the net cost, but it still doesn’t change that the government has to raise and redistribute 3.2 trillion, either by
- Taxation — Raising taxes steeply across the board. Disincentivizing productivity and penalizing the productive.
- Printing money— A lot of it! That causes inflammation raising the cost of living and you get into this perpetual game of having to raise the universal basic income to catch up with cost of living.
Another factor that these optimistic analysis ignore. The same political faction that wants UBI also wants limitless, unfiltered immigration.
- Whenever the democrats or leftists get in power our borders become none-existent.
- Illegal immigration is encourage instead of penalized.
- Chain migration, birthright citizenship or the idiotic lottery migration flood our country with low quality migrants.
- Liberals refuse to filter for migration based upon clear heuristics that indicate that certain migrants would integrate better and contribute more to our country; like education, IQ, professional skills, income, net worth, cultural compatibility, or language skills — No ingles, no problemo! UBI para todos!
We won’t just be paying $12k to every American adult, we’ll be paying $12k to every single adult human who likes free money capable of reaching to our borders, which is potentially billions of people. And we’ll be offering them a tremendous bribe of $12k/year to pack up thier lives and come take advantage of our idioticly generous system.
Like the soviet union, modern day Venezuela or any number of states and ideologies that failed spectacularly because they tried to defy universal laws of math, economics and human nature eventually UBI will fail. But in the years and decades that it’s kept afloat by corrupt politicians printing money and raising taxes our countries will be flooded with many millions of immigrants who are just here for the free goodies.
When UBI inevitably fails they will get violent. Very violent. And we have 300 million guns in the United States. Is this really a good idea guys?
I further deconstruct UBI with a bit more wit and data in this deep dive article