Universal basic income would cost the US up to $3.8 trillion per year — Bridgewater estimate

CNBC | 7/12/2018 | Tae Kim
roxy2707 (Posted by) Level 3
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Bridgewater Associates’ Ray Dalio, the founder of the world’s largest hedge fund, is analyzing the social and financial viability of a widely debated program aimed at reducing the wealth inequality.

“Universal Basic Income is one of several ideas floating around for dealing with the income/opportunity gap," Dalio wrote in a LinkedIn blog post Thursday. “I won’t give you my conclusions because I don’t want to bias you. I’d rather you form your own opinion after you are informed.”

Proposals - Income - Programs - System - Government

Proposals for universal basic income programs vary, but the most common one is a system in which the federal government sends out regular checks to everyone, regardless of their earnings or employment.

Dalio's firm estimated the cost to give every American citizen $12,000 per year, the current poverty threshold, would be roughly $3.8 trillion annually. The figure represents 21 percent of US GDP or 78 percent of tax revenue.

Bridgewater

Bridgewater also looked at other...
(Excerpt) Read more at: CNBC
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