What do you think about guaranteed income programs?

[msc545]

The idea behind such programs is that providing unrestricted cash payments is the best way to close the wealth gap and give people the opportunity to build more stable lives, including offering them a buffer time of sorts to focus on finding higher paying, full-time employment. The payments are not enough to cover all living expenses but provide a basic measure of security. Opponents have argued that the programs encourage people not to work.

[BTCMoon]

That's a terrible way to close the wealth distribution gap.

Print more money -> Inflate the money Supply -> Inflation -> Velocity of money increases and flows into assets -> The rich become richer.

That's the main issue with income programs. You also have many other issues surrounding this such as the poverty trap which is based around incentives to work and contribute.

Governments also have a terrible history in regard to command economies. They can't replicate natural market forces, and when you have a select arbiter of who chooses fair market value, then you have a lot of corruption.

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The wealth distribution gap is certainly an issue. I look at the hirschman index a lot which measures wealth concentration amongst economic sectors. Based on history, the best way to combat this is to foster smaller businesses and innovation so that they have a fighting chance against other mega firms. Mega firms have the ability to take more risk since they can scale at a higher level. That's primary why small firms can't compete.

[BTCMoon]

I think most Americans like myself primarily just want our income to carry enough value to sustain the lifestyle we want. Inflation erodes this possibility. This seems like a better alternative than begging our overlords for a check because our dollars aren't worth enough.

[Jamie05rhs]

Either you make it high enough to cover rent, or it won't work at all.

[msc545]

Very good point!

[Jamie05rhs]

Thanks!

[Friendlybro79]

I agree with a universal income because of lack of wage growth compared to inflation since the 70s. We shouldn't need to do this but big companies like to hold onto their cash to buyback their own stocks to increase CEO pay, and they don't want to pay taxes.

Apparently avg citizens are graced with paying taxes but big companies and billionaires can avoid it. To the opponents of this... Low wages are also encouraging people not to work too because people are done working hard to make one guy or several people super rich.

here's my thought. Give tax breaks to corporations who pay more to their employees.. Make some metrics around this that weighs in inflation. Whether it be per hour or bonus whatever.. Corporations need to stop acting poor. Also why are people so opposed to having the avg person be in a better situation financially? The amazing part is most people here by statistics aren't mega rich so when you oppose this you're hurting yourself.

[Vegasrunner]

Would take a difference. If you split up all the wealth in the world equally, within 1 year the majority of the money would be in the same peoples hands.

[Dargil]

Robs the recipient of ambition to succeed. He or she becomes "bought".

[msc545]

I actually think it is just enough to make a person want more ($1000 per month), but not enough to make them become complacent. What do you think?

[Dargil]

But it doesn't incentivize them to earn it, but just expect it.

[msc545]

That is true, but it does provide barely enough to obtain food and shelter of low quality, which may be enough to motivate them to do better - what do you think?

[Dargil]

Perhaps.

[msc545]

Where I live in Los Angeles that is just enough for a month to feed yourself or get a cheap hotel room, but not both.

[exitseven]

I just know that if I applied for the benefits I would be met with a blank stare and a bunch of excuses. I voted no on that.

[DCooper]

You mean like employment? I'm all for people getting a job !

[Anonymous]

End up causing major issues without a one world currency and asset bans/seizures so perfect for the USC that Joey is working on

[Hispanic-Cool-Guy]

Bad idea. Money must be earned through labor and sacrifice, not sitting on your tail.

[NathanDavis]

guaranteed waste of money

[jimmy2]

It's enough to buy cigarettes, whores , drugs and booze

[msc545]

only if you want to sleep on the street and barely eat.

[fireforeffect]

Incredibly stupid!!