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Forums - General - A $1,000 per month cash handout would grow the U.S economy by $2.5 trillion, new study says

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I want California to have universal basic income, just as Hawaii did a few months ago where they pass a bill supporting UBI: http://www.businessinsider.com/hawaii-basic-income-bill-2017-6



Proud to be a Californian.

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darkenergy said:
I want California to have universal basic income, just as Hawaii did a few months ago where they pass a bill supporting UBI: http://www.businessinsider.com/hawaii-basic-income-bill-2017-6

I want california to have UBI too but for different reasons. Best way to prove this crap doesn't work is to have a state or foreign country to go through with alot of these socialism-lite ideas.



This is one of those ideas that in principle sounds quite remarkable but in practice proves untenable. There will come a time when we have too many qualified people and too few open positions, this seems obvious. Not everybody has the mental acuity necessary to write software.

I am in favor of the idea, but the implementation has to prove financially sound. Self-borrowing is asinine and can only lead to additional problems. There is something romantic about bringing the bottom level of society from "homeless" to "basic needs met" and I think any compassionate person would be interested in such a reality.



So, it grows the economy by $2.5 Trillion. The thing is, it costs $2.5 trillion dollars per year.



VAMatt said:
So, it grows the economy by $2.5 Trillion. The thing is, it costs $2.5 trillion dollars per year.

It would grow the economy by $2.5 trillion by 2025 and it would cost nearly $3 trillion a year which which is rougly $21 trillion altogether. It's a great idea.



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Aeolus451 said:

I want california to have UBI too but for different reasons. Best way to prove this crap doesn't work is to have a state or foreign country to go through with alot of these socialism-lite ideas.

UBI might actually become feasible as automation and deep learning gets more advanced ... 

But we should aim lower than UBI right now and campaign for free post-secondary education for STEM majors ... 



fatslob-:O said:
Aeolus451 said:

I want california to have UBI too but for different reasons. Best way to prove this crap doesn't work is to have a state or foreign country to go through with alot of these socialism-lite ideas.

UBI might actually become feasible as automation and deep learning gets more advanced ... 

But we should aim lower than UBI right now and campaign for free post-secondary education for STEM majors ... 

UBI requires a complete change of the taxation and benefit system to work in most countries. Also there is no such thing as "free" post-secondary education, free just means you are making someone else pay for it, ultimately like UBI that has to be the tax payers, everything has a cost and right now most countries struggle to pay the bills for existing ballooning government expediture let alone take on board trillions of new costs.



This was also an idea raised here in The Netherlands during elections not too long ago. Just give everyone a base income of €1000 each month and let people build on that with their salaries. Could have a few short-term benefits but in the long run I think it'll just encourage lazyness and lower wages. Needless to say this idea and support for it died out quickly here.



Aeolus451 said:
ArchangelMadzz said:
Doesn't matter how much research. studies or anything indicate that this is a good idea. No matter what country implements it and it works.

There is no way this culture is accepting it and that's quite sad.

It's an idiotic idea. It's not the government's job to do this sort of thing and they don't have the money to just give people money. 

Actually it is the government's job to provide people with the necessary tools to live a decent life. In fact, that's their only job. The financial side of things is a bit more complex but that's a puzzle that will have to be solved in the near future.



If you demand respect or gratitude for your volunteer work, you're doing volunteering wrong.

nanarchy said:

UBI requires a complete change of the taxation and benefit system to work in most countries. Also there is no such thing as "free" post-secondary education, free just means you are making someone else pay for it, ultimately like UBI that has to be the tax payers, everything has a cost and right now most countries struggle to pay the bills for existing ballooning government expediture let alone take on board trillions of new costs.

There's no such thing as 'free' in real-life if you want to get technical about it ... 

We should at the very least have subsidized post-secondary for certain degrees since the payout for studying subjects like engineering, medicine and business is worth more than their cost. Just imagine the surplus of taxing those groups for 40 years straight! 

UBI will work eventually once we perfect automation ... (Robots can do all the work while we reap the rewards!)