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All-In with Chamath, Jason, Sacks & Friedberg
Universal Basic Income and Its Impact on Happiness and Spending
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Studies show that changes in income have a higher impact on happiness than absolute income due to the normalization of spending levels. Universal Basic Income (UBI) may not be effective because as income increases, spending patterns adjust, and people's desires constantly drive them to improve their relative condition. A UBI system would need consistent income increases to keep up with shifting minimum thresholds of satisfaction. Additionally, implementing UBI for 350 million Americans at $1,000 a month would cost $4 trillion annually, a significant portion of the federal budget.
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