Frank Delucha on Universal High Income vs Hyperinflation

The thing about so-called universal high income is that it would lead to hyperinflation and currency collapse. Here's the math. 100 million people times $10,000 per month times 12 months equals $12 trillion a year. To put that in context, total federal spending in fiscal year 2024 was roughly $6.75 trillion, and total federal revenue was about $4.9 trillion. So this single program would cost nearly twice the entire existing federal budget and about 2.5 times all federal tax revenue. It would roughly triple total government spending overnight. It obviously can't be funded by taxation alone, so it would require printing money at a pace that would rapidly devalue the dollar, effectively destroying much of the purchasing power the payments were meant to provide. The recipients would get bigger numbers on their checks, but the prices on the shelves would be rising just as fast or faster. Before long, the people would find themselves right back where they started, impoverished, yet receiving a high income derived entirely from money printing that rapidly erodes the purchasing power of all the dollars they're given. Universal high income, in other words, would actually achieve universal poverty and despair. Basic economics. I'm Frank Delucha, ...