alt Hacker NewsFeb 1: receive monthly paycheck Feb 2: spend all of it on strippers/drugs/alcohol/twinkies/etc. Feb 3: I'm hungry.
Unless you are prepared to let the wagies starve to death, wages will never work.
Or to put it in less sarcastic terms: Why would UBI payments be more likely to be squandered than any other monthly payments? Especially by people who can't afford food without it. Are there any studies that show such behavior?
I suppose the difference is that we have a means-tested program which the wagies can fall into. Was the proposal to have a UBI with a means-tested program behind it? I thought most UBI proponents count on turning off the means-tested program in order to fund the UBI program.
At $1k/month for 340m people, we will double social welfare spending per capita if we don't turn off the existing programs. That will put the US at the tippy-top of per-capita spending above even Luxembourg. Fascinating.