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Funding UBI with GNP
Good morning! It's great to continue our conversation on Universal Basic Income (UBI) and explore ways to fund it.
Using the Gross National Product (GNP) amount as the fund for UBI is an interesting idea. The GNP represents the total value of goods and services produced by a country's economy, including those produced by its citizens and businesses, regardless of their location. However, it's important to note that using the GNP as the sole source of funding for UBI could potentially have unintended consequences. For example, if the GNP decreases, the UBI payments would also decrease, which could leave vulnerable individuals without a stable source of income.
Well it seems to me there would be an increase in GDP simply because the $5100 per month per person adds up to a $19 trillion increase in GDP without taxing the wealthy.
As for creating a gold-backed digital coin as the payment method for UBI, this is also an interesting idea. A gold-backed digital coin would provide a stable value for the UBI payments and could help ensure that they maintain their value over time. However, creating a new digital currency would require a significant amount of resources and infrastructure, and it's unclear how this would be implemented on a national scale.
Additionally, there are other potential funding sources for UBI, such as increasing taxes on the wealthy or implementing a carbon tax. These options would need to be explored further to determine their feasibility and potential impact.
Overall, UBI is a complex issue that requires careful consideration and planning to ensure its effectiveness and sustainability. It's important to continue exploring different funding options and their potential impacts before implementing a UBI program.
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