Also - importantly - it is not an income tax revenue funded payment. It is a distribution of proceeds from a productive business.
Think of it this way: the entire world pays Alaska residents for the use of their oil, as a sort of tax that is worked into every energy intensive step of industry or petroleum-derived material.
Alaska's oil is only ~1% of world oil production, but its population is approximately 0.01% of world population, so Alaska residents get approximately 100x what the global per capita oil dividend would be. Oil industry is approximately 2.5% of global GDP. Stack all these multipliers together and we could expect a global per-capita total-GDP dividend of between $525 - $1325 per person per year. Exceeding this (as we did with PPP "loans" during COVID) would have compounding economic effects that lead to hyperinflation.
This is napkin math with spherical cow assumptions. Other factors would further limit UBI dividends to be less than this. But it shows that with existing national dividend systems as model, we can't even get within an order of magnitude of the low end of what UBI proponents are advocating.
Think of it this way: the entire world pays Alaska residents for the use of their oil, as a sort of tax that is worked into every energy intensive step of industry or petroleum-derived material.
Alaska's oil is only ~1% of world oil production, but its population is approximately 0.01% of world population, so Alaska residents get approximately 100x what the global per capita oil dividend would be. Oil industry is approximately 2.5% of global GDP. Stack all these multipliers together and we could expect a global per-capita total-GDP dividend of between $525 - $1325 per person per year. Exceeding this (as we did with PPP "loans" during COVID) would have compounding economic effects that lead to hyperinflation.
This is napkin math with spherical cow assumptions. Other factors would further limit UBI dividends to be less than this. But it shows that with existing national dividend systems as model, we can't even get within an order of magnitude of the low end of what UBI proponents are advocating.