Silicon Valley billionaire Stewart Butterfield voices support for universal basic income - The founder of Slack joins illustrious company which includes Bill Gates, Elon Musk, and Mark Zuckerberg

No sorry it's not political. It's economical

US GDP is 18 trillion dollars. Giving everyone a stable 25,000/year is going to be half the US GDP alone, not including the bureaucracy costs to it. This does not include defense, healthcare, and extra UBI for those with disabilities and so forth. This also does not include public funding for infrastructure, schools, etc. So yup, definitely not feasible today. Not sure why you think it is. Not to mention it will crash the economy.

And the technology to catch the fraud isn't fundamentally different. UBI is also means-tested unless you want everyone to get the same income and say goodbye, you're on your own. "I don't care if you used it all on alcohol, gambling, or had a terrible accident leaving you in a nursing home."

And yes, people have incentives. If I know I can get more money by saying I live in Manhattan, then look for a place as a shadow 20-30 minutes where COL is cut by a third, why wouldn't anyone? This happens right now, where people lie on their residences and income to receive assistance. I work with social workers all the time, and they see it on a daily basis but can't do anything about i. I think it is pretty naive of you to not realize people will have incentives to game the system no matter what.

/r/Futurology Thread Parent Link - independent.co.uk