On June 22 of this year Mr. Abalos brought up the subject of UBI (Universal Basic Income) and I thought I would respond.
Considering the push for $15 pay across the country, Mr. Abalos must believe that a UBI of $30,000 a year or more is acceptable. It is estimated that 260 million persons over 18 years old live in the United States.
Using $30K per year, that would mean that, if enacted today, $7.8 trillion would be required each year. The United Nations estimates the United States has a wealth of $118 trillion and that is probably overestimated, but using that figure, the nation would be out money, (as if it already isn’t), in less than 16 years.
That is not to mention unintended consequences of business failure due to lack of employees, although according to you they would be replaced anyway by robots. Not included is the mass immigration of people from other countries to take advantage of us as we have already seen in the past.
People who make more than that would get upset and perhaps quit their jobs. Business would have to be taxed 90 percent just to maintain the program and many would fail or simply give up. The rich would get richer and the poor would be getting a minimal subsistence of UBI.
As humans, we would follow the path of least resistance and vote ourselves more and more benefits until we hasten our own demise.
I would suggest also that it won’t happen. As it is, people of the welfare class are not happy with what they receive and in time, neither will those on UBI and thus the greed cycle of calls for increases will start over again. You won’t be able to block noncitizens because that would require proof of citizenship, which you and your ilk clearly claim to be racist.
I visualize so many other unintended consequences that I have not the space in this letter to explain. Suffice it to say, the idea is ill-conceived and even dangerous.