Episode 355: If A.I. Leads to Universal Basic Income, How High Will Taxes Have to Go to Pay for It?

David explains why A.I. could make Universal Basic Income (UBI) a reality sooner than you think. As machines take over more jobs—especially white-collar ones—we may need a new safety net just to keep society stable. Why UBI is no longer a fringe idea but a serious policy being considered in Washington. It promises monthly cash payments to every adult, regardless of their job or income. David highlights the staggering cost of UBI if implemented today. At $12,000 per adult annually, the total price tag would hit $3.1 trillion a year—equal to all Social Security and Medicare spending combined. How to wrap your head around what that means for taxes. To fund UBI, the government would need to raise taxes by at least seven percentage points across the board. David shares what that looks like in real life. If you’re in the 22% tax bracket now, that could jump to 29%—even before you factor in state taxes or future hikes. With rising national debt and shrinking tax bases due to A.I., David belie...