Universal and targeted programs, after accounting for financing, can achieve identical distributional outcomes.

"When discussing a universal cash assistance program like Andrew Yang’s Freedom Dividend, one often hears, “Why\should Bill Gates get $1,000 per/month? Give it to the needy!” But this sentiment, commonly expressed, is near-sighted in focusing solely on the benefit and not its financing. A universal program does not imply that the rich or even the middle class receive a net transfer once taxes are taken into consideration."

fact