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Noserose Profile
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Universal Basic Income: Its coming but not for the USA.


Universal Basic Income: Its coming but not for the USA.

A country that has universal basic income guarantees every person a set minimum income regardless of criteria -- age, wealth, job status, hometown, family size, etc.

http://money.cnn.com/2017/05/26/news/economy/mark-zuckerberg-universal-basic-income/index.html?iid=surge-story-summary

[Finland and Canada are the first countries to try it out and many others are considering it and are waiting to see the outcomes from Finnish and Canadian test results. If it turns out to be cost effective and beneficial many think it will be tried all around the world....except in the USA of course. The political climate in America is cold and divided and would be incapable of consensus on such an idea. The right is against it and at the moment the right is in the catbird seat in the United States.

If you want more equality and less poverty the UBI is the way to start and because of that I for one support it. What do you think about it?]


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5/28/2017, 9:53 am Link to this post PM Noserose
 
cooter50 Profile
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Re: Universal Basic Income: Its coming but not for the USA.


Cannot eliminate poverty by giving money to them without a method to maintain the funds. Taxes to do so on those doing better only push those down into the poverty line not vs a vs.

There is no sustainability, unless you just print more there is no physical way to sustain effectively. In blanket printing comes run away inflation where the money even as there is more is more worthless with each added bundle.
5/28/2017, 10:44 am Link to this post PM cooter50 Blog
 
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Re: Universal Basic Income: Its coming but not for the USA.


Universal health care should already be a or THE lesson taught, those nations borrowing to accomplish sustaining those programs that do not have functional refunding systems should stand out as a huge warning NOT TO GO THERE.

Communistic Socialism failed, the poor were just as or more poor, There was no sustainable purchase power or economic growth they had or even still have great health care but live hand to mouth and in destitution, Cuba comes to mind. Rural Russia as the USSR comes to mind and that is the ONLY inevitability to this basis of design.

I await the reflections of those that always do as to SSI being a guaranteed income.

SSI is a TAX, to establish a savings account in the name of that taxed person. I have paid into my fund since 1972 by the forms I have printed off and as best memory can serve. I will receive $1934 a month as a 'BENEFIT' of saving for over forty five years. To Which, as I retire, should I live to 74 as noted by actuarial tables, I will have received a little more than ten years of SSI. My wife will get to enjoy my funded payout while her Paid In account stops paying and where she will have only drawn upon it for a few years. There is in no way even with as low as a single 1% return of investment that the combination of our two funds should ever pay out completely.

Last edited by cooter50, 5/28/2017, 11:31 am
5/28/2017, 11:05 am Link to this post PM cooter50 Blog
 
Noserose Profile
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Re: Universal Basic Income: Its coming but not for the USA.


Cooter: The point of UBI is it will take the place of other safety net programs and that saved income will pay for the new program. If the program proves not to be sustainable in the tests no one is going to start doing it.

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5/28/2017, 11:18 am Link to this post PM Noserose
 
cooter50 Profile
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Re: Universal Basic Income: Its coming but not for the USA.


How can they stop paying once it begins?
5/28/2017, 11:32 am Link to this post PM cooter50 Blog
 
gopqed Profile
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Re: Universal Basic Income: Its coming but not for the USA.


Milton Friedman, the leading conservative economist of the last century, proposed a negative income tax that would provide a form of universal basic income. So this isn't really a conservative vs. liberal debate.
5/28/2017, 3:54 pm Link to this post PM gopqed Blog
 
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Re: Universal Basic Income: Its coming but not for the USA.


quote:

gopqed wrote:

Milton Friedman, the leading conservative economist of the last century, proposed a negative income tax that would provide a form of universal basic income. So this isn't really a conservative vs. liberal debate.



It certainly doesn't have to be but it will probably be classified as such, at least by the media.
5/28/2017, 4:13 pm Link to this post PM Philer Blog
 
cooter50 Profile
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Re: Universal Basic Income: Its coming but not for the USA.


Friedman also noted the reduction of incentive to actually work for a paycheck under a negative income tax system, would not fully envelope the poor but the incentive to produce or to encourage growth does decline. Then there is the inadequacy of the design for those with no income, it would never be enough to 'live' on.

https://mises.org/library/fallacies-negative-income-tax

Last edited by cooter50, 5/29/2017, 12:38 pm
5/29/2017, 12:36 pm Link to this post PM cooter50 Blog
 


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