That depends entirely on how high it is, doesn't it?
Ultimately, it's not about money but about productivity. If the economy is productive enough to give everyone a minimal standard of living as well as comforts and luxuries for those who earn them, it doesn't really matter how said minimal standard of living is "funded".
And there is little doubt that the economies of developed countries are that productive for a reasonable minimal standard.
Ultimately, it's not about money but about productivity. If the economy is productive enough to give everyone a minimal standard of living as well as comforts and luxuries for those who earn them, it doesn't really matter how said minimal standard of living is "funded".
And there is little doubt that the economies of developed countries are that productive for a reasonable minimal standard.