How do you feel about Universal Basic Income? Every adults get $1000 per month?
What Guys Said 38
For as much as I would like to support a fellow Asian-American, I (having studied Economics to a Bachelor of Science-level) have serious doubts about U. B. I. being the prescription to "growing the economy" in its current condition.
Any proposed policy will work… under certain conditions. The question is whether the said parameters for success equal or are compatible with the actual operating conditions. U. B. I. assumes the "multiplier effect" (which doesn't work with the government debt is already so huge), and neglects the "crowding-out effect" (leeching-off the private sector, the true generator of prosperity and national income).
It's essentially another form of the Bush & Obama tax-cut "stimulus packages" that failed to address (or, more accurately, "amplified") the national-debt problem. The only difference is that the candidate Yang actually bothered to explain how how the taxpayers will inevitably pay for it: a new Value-Added Tax.
Finland tried it and are ending the apparently-failed experiment this year.
He is is a socialist who has zero understanding of basic economics.
Where does all this money come from? The government? The government makes no money itself - government money comes from taxes - money taken from workers.
This plan would remove the incentive for many people to work, which would raise the burden for those who do work, which further reduces the incentive to work. That's a death spiral that would crash the economy.
Well, I wouldn't mind receiving an additional 12k every year and it kinda makes sense going foward as more and more people end up being rendered useless by AI. That's probably more of a future problem tho.
That being said, the money has to come from somewhere and I wouldn't want the deficit to be increased as a result of this plan. So I guess my opinion on this kinda depends on how this would be funded.
Tax automation businesses to give as a huge socialist program?
That will stagnate growth of automation and possibly put it into a recession. Stagnating leading edge companies.
Financial, medical, pharma all keep status quo
Vehicle production will die almost immediately. Automation will leave America.
America will be stuck right where we are right now in perpetuity. Itll help the lowest class. Imagine the illegal drug market boom?
So, he wants to bring in VAT for American companies and use that cash to put everyone on non means tested benefits at a flat rate of $1000. This would benefit the poor the most.
However, I would have thought that companies would pass on that tax to consumers which means your free $1000 doesn't go as far because now everything is 17.5% more expensive.
Also, it was unclear why he thinks new jobs will be created other than people living hands to mouth are more risk adverse.
Well, in my opinion, the US is a bit too right wing, so this would certainly change that. I think this is a bit extreme and regurgitating this $1000 back to the people seems wasteful since it could probably be used much more wisely.
"Give me control of a nation's money and I care not who makes it's laws." — Rothschild
No matter the politics, social status, economy, person, entity, business, program - follow the money and you will know the intention and purpose.
i think giving money for free is not going to do anything good... capitalism and free competition could work out well, its rather other aspects screw the system from working for humanity's benefit.
Welfare and unemployment insurance is all we need. We should be encourage people to work, and not sit on their ass. There are a number of people that will invest that money into illegal activities too. The only thing I like about it is that everyone gets the same assistance from the government, whether rich or poor.
This would only have even the smallest chance of working if we ended unskilled immigration and importation of Migrants. Denied all benefits to illegals, deported them with extreme predjudice, and did some extreme restructuring of the tax system to cut all social programs.
Here is a better idea: How about a guaranteed 40 hours of work a week at $5/hr.
The US has 15 million illegal aliens, and most of them are doing jobs that lazy Americans do not want to do. A program that requires lazy Americans to work in the fields, in restaurants, picking up trash, in daycare, and construction as their form of welfare, where the beneficiary receives subminimum wage and their government employment agency charges federal minimum wage from the employer would do wonders.
1) Not a fan.
2) If this is implemented, it should only go to people who are employed or are in some form of education in order to incentivise being a productive member of society.
3) It's too much. Counting with a 30 day month and 4 weekend the monthly minimal wage in a 9 to 5 job is (30-2*4)*8*$7.25 = $1275. That's 15000 annual, which would mean you'd even be taxed. That would completely disincentivise working, and make work less important.
4) This whole idea is counter-intuitive. Collect taxes, then give people money back? Why not just... get this... lower tax rates? Progressive taxation anyone? Hello?
5) The problem with US taxatiom is that corporate tax rates are too low, and personal tax rates are too high.
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in germany there are enough people who don't work, take tax money which is granted to those who don't work and then do some sort of illegal black work to be richer than any of the working class.
you are just being sympathetic which to me is disgusting
I am for it. Also we will need it when the robots take over the job force which it is already happening
We need to stop wasting money on the rich and the military as well
UBI is being tested in various parts of world, Kenya and Finland i can recall on top of my head. I don't know the results so I'm neutral about it.
I mean, it'll have to be done eventually, but maybe we need to let a few thousand conservatives die of starvation first, before they can learn.
The whole idea is BS. The capitalist system as it is needs a reform. Inflation will keep the poor poor and the rich rich.
Didn't work in Finland. Restructure the tax system instead.
An absurd Chinese guy. Luckily Trump will get re-elected.
Hmmm. OK, UBI is something what I think about sometimes.
I like the idea, but! But we're not there yet. UBI could work in highly automated society. We're talking the level, when you have your personal robot, which does things for you. For example, now I¨m hungry. I don't want to get up my ass and do something, not. It's for robot. I have internet to fuck around. :-D
In society like this, there would be either major shift in jobs, or even less working people. But! If machines would do the work, that also means the price per item is going down, while you can afford some UBI.
But we're not there yet. Even for rich countries.
That’s really not going to work or get him elected.
Thats so stupid den dere has to be difference in pay as per each person skills, education, hard work
Some people don't deserve the income they don't work for.
Money wouldn't worth anything anymore.
Sounds good in theory but...
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What Girls Said 9
And where does this flake expect all this money to come from? If there are 250 million people in the US that would be $250 billion dollars. How much would they have to raise taxes to pay this out, thus nullifying this $1000 payment?
Universal Basic Income is being trialed in some parts off Scotland and other parts off Europe. I think the idea is good, but as with many off these policies the devil would be in the detail. In order for it to work sacrifices will need to be made and weighed up.
And where are they getting this money from? It's not just free money, it's coming from somewhere, like the taxpayer's wallets.
Instead of giving everyone 1000 a month, why not doing something great about the bad education? Or wait,- that's America.
Let's make america lazy again!
Doesn't that make money less valuable?
Thatd be nice. If you dont have to slave away to survive why would you?
An additional bonus or extra $1K besides everything else we earn would be nice.
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