Is a Universal Basic Income System Even Possible?

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Gizmodo 10h ago

Is a Universal Basic Income System Even Possible? - Gizmodo

Quick Summary:

That new revenue, according to Widerquist, could mostly be generated by taxing America’s richest families and would help pay for basic income for some 99 million people, or roughly a third of the U.S.population.

Three years ago, OpenAI CEO Sam Altman published an essay dubbed “Moore’s Law for Everything,” in which he claimed artificial intelligence would soon drastically reshape our world.“As AI produces most of the world’s basic goods and services, people will be freed up to spend more time with people they care about, care for people, appreciate art and nature, or work toward social good,” he claimed.

While taxes on everybody in the U.S.would likely go up, much of the tens of billions of dollars needed to support the new system would come from our nation’s top 1 percent earners.“My most preferred plan is a net benefit to 70% of people,” said Widerquist in an email.“That’s 234 million people.