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Granting every American citizen over 21-years old a universal basic income of $13,000 a year — financed by eliminating all transfer programs payments — would be a better policy than the status quo


Opinions from 14 influencers (add more?) of which:

Agree 7%
93% Disagree

Agree:

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Steven Kaplan Professor of economics at University of Chicago

UBI is a step in the right direction, but very complicated. Devil would be in details. So, lots of uncertainty.

Disagree:

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Richard Schmalensee Professor of Management and Economics at MIT

A properly designed negative income tax could be part of a better policy, but replacing everything is a bad idea.
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Oliver Hart Nobel Prize winner in Economics and Professor at Harvard

Bill Gates would get 13K, which is crazy. Raising taxes is costly and so redistribution should be targeted to those who need help most.
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Markus Brunnermeier Edwards S. Sanford Professor of Economics at Princeton University. The author of a new book :

Total health expenses and risk will remain high for individuals. It might also shift the norm whether to work. Work = being part of society
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Eric Maskin Nobel laureate in economics

A minimum income makes sense, but not at the cost of eliminating Social Security and Meidcare.
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Christopher Udry Professor of economics at Yale University

The simplicity is attractive, but deceptive. Coupled with universal health care & tax reform it could work. but we are far from that.
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Caroline Hoxby Professor of economics at Stanford University

Even if the $13K # came from coherent theory/evidence (which it does NOT), this ignores all tagging logic of social insurance/optimal tax.
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Jonathan Levin Professor of Economics at Stanford University

Provocative idea but as stated would cost ~$3 trillion, equal to all federal tax revenue. What about e.g. national defense?
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William Nordhaus Professor of economics at Yale University

And the children get nothing? The basic idea is sound but too simplistic as stated.
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Michael Greenstone Professor of Economics at University of Chicago

Better policy for who? Easy to identify families worse off & good potential to wreak havoc on insurance mrkts. plus need social welf functn
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Kenneth Judd Computational economist at Stanford University

13K is inadequate for anyone with no other income. Some people eligible for welfare choose to not apply, making this proposal unnecessary.
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Judy Chevalier Professor of Finance and Economics at Yale University

The current programs, while having incentive issues and other flaws, disproportionately focus on children and the elderly.
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Pete Klenow Professor of economics at Stanford University

John Cochrane proposes variants that would be better
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Robert Hall Professor of Economics at Stanford University

Limitation to people over 21 can't be the right answer.