The Universal Basic Income: Josh Martin '14 from STOTALKS on Vimeo.
VIDEO: Josh Martin, “A Basic Answer to Welfare: The Universal Basic Income” | Basic Income News:
Lastly, he proposes his own plan for an American basic income. Rolling together the money the U.S. spends on means-tested programs (excluding Medicare and Medicaid), child tax credits, and Social Security, the U.S. could have around $2 trillion to spend on a basic income. This budget could afford a program where all citizens 0-17 receive $2,000 per year, those 18-24 receive $4,000 per year, those 25-64 receive $6,000 per year, and those 65 and up receive $14,000 per year, effectively replacing Social Security. This plan only costs $1.87 trillion and thus would save the U.S. $130 billion by converting to this basic income plan.