A printer.
Universal Basic Income
- Thread starter The Berean
- Start date
A printer.
Did you read the first article in the opening post? What specific bad things do you think would happen?
I finally read the article. I was hoping it would address inflation more. Perhaps they couldn't address it much because experiments are limited. The concern they talked about most was people cutting their work and they found it was minimal.
EDIT - I found this link. Putting it here for future use
https://medium.com/basic-income/wou...use-massive-inflation-fe71d69f15e7#.ze52juv33
Tyrathca
New member
Significantly raised taxes or a complete axing of all other government programs (i.e. complete privatisation of practically ALL essential services), otherwise a massive diluting of the funding to those who don't need it will result in the basci income not covering even a fraction of basics.
Assuming increased taxes are the solution tot he funding gap then obviously wages would shrink dramatically because A. increased cost for business and B. not doing so will lead to hyperinflation from huge increase in cash [wage + basic income = lots more money in everyone's wallet] which will end in a practical slashing of wages. These lower wages will cut the incentive of a significant minority to work in low paying/low quality jobs and result in people basically just living on basic wage and not working. Yes a majority of people would not want to live on this kind of wage and would continue working to earn more however I don't believe our economy or technology has reached a point of letting that number of people contribute little to nothing, we will reach that point and perhaps even within a century but we have not reached it yet and starting programs like this prematurely could be disastrous.
I think the basic income would definitely replace some government programs, at least the income based ones. Other gov't programs might remain. Reallocating assistance would help limit what tax increases are required. And perhaps the gov't simply prints some of it (I know, I know).
What do you think of this article?
https://medium.com/basic-income/wou...use-massive-inflation-fe71d69f15e7#.9g5194t22
He's arguing that inflation could be kept in check and that wages might actually increase.
I think there is a lot going for a basic income program. Maybe it could even be done in a limited way, or put in a negative income tax system that the original article spoke briefly about.
I have a book that supports a similar system, in taxing land. It's called "Land and Taxation" by Nicolaus Tideman. I'm not sure it says to use the revenue to fund basic income though.
To quote the cover: "Taxes on income and expenditure can be abolished by raising public revenue from the natural source, land. This would restore full employment, banish poverty and sustain economic activity. Too good to be true? Neo-classical economists and their paymasters were so afraid the policy might be implemented, they shrouded the theory in mystery."
I read most of the book a while back but was in over my head. I remember thinking there could be something to it. I even started a thread about it, if it's still around. :liberals:
The Berean
Well-known member
Elon Musk chimes in about how robotic automation will likey force a univseral basic income system.
Musk: We need universal basic income because robots will take all the jobs
Musk: We need universal basic income because robots will take all the jobs
The Berean
Well-known member
I've seen that video before. I believe a society where no one works will quickly degenerate and people will become like the Eloi.
glassjester
Well-known member
Why wouldn't cost of living just increase, in proportion to the universal basic income?
DavidK
New member
I wonder if it would split society. I know people who would just sit and watch television all day if they didn't have to earn a living, but I know people who work hard without any income motivating them.
I could see two classes. The life-long learning, build soemething for the sake of it, and servant-hearted folk and the stunted development folk.
DavidK
New member
What would you do with/for children of parents choosing to live on 10k a year?
I'm not trying to poke a hole in the idea, just wondering about it. It seems like a lot of social programs that have broad support are about trying to take care of kids in families where the parents can't or won't.
If all welfare programs are rolled over into a basic 10k a year for everyone, do kids in 10k households just suffer?
jeffblue101
New member
honestly, I don't see how the cost of living could increase, no new tax dollars are being injected into the system just the reallocation of same money in a much more beneficial and efficient manner.
jeffblue101
New member
lots of kids already suffer under our current broken welfare system we have now, no system will ever be perfect. what could be implemented is a household head work requirement to limit the number of stupid people who would try to live a life of poverty rather than live life comfortably while working.
The Berean
Well-known member
Some questions to ponder. What's to stop people from forming mafias and hording supplies to force other people to do their bidding? Like a futuristic Vito Corleone.
glassjester
Well-known member
Wouldn't prices go up, if everybody's income magically went up?
:Grizzly: :turbo:
Tyrathca
New member
The problem is this is a future problem which will at best occur gradually over an unpredictable amount of time. It is not yet the current situation and implementing such plans early could result in disaster.
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DavidK
New member
Oh, sure. I was just thinking that there are programs that specifically try to help kids when their parents can't or won't work, but a universal income won't be specific like that. If I give a way to get food to a family, isn't it less likely they'll find a way to turn that into entertainment or drugs or whatever than if they are just being handed money?
So, you have to work to get the basic income, or you have to work to keep your children?