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Paying for Basic Income Guarantee

In: Free Money for All

Author

Listed:
  • Mark Walker

Abstract

A frequent objection to BIG, at least from those hearing about it for the first time, is that we simply could not afford to give everyone $10,000 a year. Indeed, in the minds of many, the United States has enormous yearly budget deficits. In actual fact, the budget deficit has been diminishing recently. In 2009, it stood at 1,400 billion. As of 2014, it was down to 483 billion. So the deficit has dropped by almost a trillion dollars in the past five years.1 This is not to say that the deficit is no longer an issue; rather, given the amount of hyperbole out there, we should keep this in some perspective. Those predicting widespread rioting, looting, and cannibalism as a result of the federal deficit may have to wait awhile for their predictions to come true.

Suggested Citation

  • Mark Walker, 2016. "Paying for Basic Income Guarantee," Exploring the Basic Income Guarantee, in: Free Money for All, chapter 0, pages 19-39, Palgrave Macmillan.
    • Handle: RePEc:pal:etbchp:978-1-137-47133-8_2
    DOI: 10.1057/9781137471338_2
    as

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