I am proposing a universal basic income that would replace the entire welfare system we
have now, and one of the first questions that would come to anyone's mind is, "Can we really
afford this? $10,000 a year for everybody aged 21 and older until they die?" And the
surprising answer is it would several hundred million dollars cheaper than the system we
have now. And guess what, by the year 2020, it will be in the order of $900 billion cheaper.
By the year 2025, we're going to be looking at well into 1.5 to 2 trillion dollars cheaper
than the current system. The right question is not, "Can we afford universal basic income?"
The right question is "How are we going to sustain the current system for the next decade?"
Something has to be done to deal with an oncoming fiscal crisis. A universal basic income is
not only a better system for Americans, it's also a lot cheaper.