$12,500 per year to 250,000,000 people (roughly the number of adults in the US), its $3.1 trillion dollars… Every year.
Total Federal Tax receipts in 2015 were just over $6 trillion.
So how much should the UBI be, you know, to keep people ‘out of poverty’, and then, how do you pay for it?
What will end up happening if a UBI is implemented is this. The proponents will call for means testing, which will then make it not universal. Then they will clamor for supplemental programs to help ‘the poor’ because there will still be poor people. So we will end up with the same structure we have now, with simply another, larger layer on top of it.
The UBI is a pipe dream, and a nightmare at that.