Universal Basic Income gets all this attention and popularity, but I haven’t seen one model that’s even on the planet of financial feasibility. These things are utopian. Finland is conducting an experiment in giving every adult a check for €800 a month, which would require spending far more than what the government raises in taxes. Whatever you think about giving €800 checks to every citizen, the only way you’re getting that money is by taxing citizens double what you’re taxing them now.
Chosen excerpts by Job Market Monitor. Read the whole story at We talked to five experts about what it would take to actually institute Universal Basic Income – Quartz
US – Universal Basic Income for everyone would add roughly $2.2 trillion to government spending
So let’s run some numbers. Paying all 322 million Americans $10,000 a year would cost $3.22 trillion. Proponents claim this can be paid by redirecting existing welfare programs, but a quick review reveals this as nonsense. All state and local government social welfare programs are around $500 billion, and programs such as food stamps (SNAP) … Continue reading
Revenu minimum garanti pour tous – Le rêve un peu fou de certains Suisses
En Europe, la Finlande sera en 2017, le premier État membre de l’UE à instaurer un revenu minimum universel. Aux Pays-Bas, la ville d’Utrecht expérimente également cette nouvelle approche qui a également ses thuriféraires en Suisse. Les défenseurs de ce qu’on appelle chez nos voisins le revenu de base inconditionnel ont d’ailleurs obtenu une petite … Continue reading
A Basic income or Guaranteed Income for Canada – Would cost the treasury more than $500-billion a year
The Finnish example is typical of the fiscal folly. The Finns propose a monthly transfer of €800 ($1,200) a person, which sounds nice until you do the math and figure out this would require a doubling of existing taxes to fund the program. This transfer would barely replace what low-income Finns already get under their … Continue reading
Guaranteed Income in Finland – Paying 800 euros ($1,165) each month and scraping all other government benefits
Finland’s government is drawing up plans to pay every citizen a basic income of euros 800 ($1,165) each month, scrapping benefits altogether. Under proposals drafted by the Finnish Social Insurance Institution (Kela), the tax-free payments would replace all other benefit payments, and would be paid to all adults regardless of whether or not they receive … Continue reading
There is no free lunch.