I suppose we could straightforwardly just transfer enough cash to everyone below a certain poverty line until their annual income is above it. The Longview team has estimated this would cost about $258 billion [edit: annually] (pp. 8-10 here).
Sorry, I was too terse! I agree that we should expect this amount to decline over time. I was trying to clarify that despite my parent saying “until” the $258B estimate was not a total cost.
(I’ve edited my comment to change “annually” to “for one year”.)
I suppose we could straightforwardly just transfer enough cash to everyone below a certain poverty line until their annual income is above it. The Longview team has estimated this would cost about $258 billion [edit: annually] (pp. 8-10 here).
$258B for one year
Sorry, yep, I meant to add an “annually” there!
As people escape extreme poverty, that total decreases year-over-year—explained in detail here.
Sorry, I was too terse! I agree that we should expect this amount to decline over time. I was trying to clarify that despite my parent saying “until” the $258B estimate was not a total cost.
(I’ve edited my comment to change “annually” to “for one year”.)