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Old 02-03-2017, 08:43 AM   #288
Schneed10
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Join Date: Feb 2005
Location: Newtown Square, PA
Age: 46
Posts: 12,458
Re: What would it take?

Quote:
Originally Posted by CRedskinsRule View Post
just adding this about LW.

9% of the population makes over $100K/yr according to this link

Assuming that the LW was only given to US Citizens making under $100k per year, the yearly outlay for LW payments is roughly 4.4 trillion dollars.

Reducing it to only people making under $50k would still be 3.5 trillion dollars ($20K * 176Million people)

The US GDP for 2016 was $18trillion.
Federal Gross Spending was $3.9 trillion dollars

Government Pensions $1.3 trillion
Government Health Care + $1.5 trillion
Government Education + $1.0 trillion

National Defense + $0.8 trillion
Government Welfare + $0.5 trillion
All Other Spending + $1.6 trillion
Total Government Spending $6.7 trillion

So theoretically if we got rid of the myriad of welfare/education/healthcare governmental entities, and rolled it one lump sum governmental LW block grant to the states, we would go from $3Trillion, to $3.5Trillion.

Could you imagine the shift of power that would create politically
You'd still have to provide the healthcare on top of living wage. $20K per year gets you bare essentials like shelter and food, but not healthcare. Those folks would still need Medical Assistance.
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