$1,000 per month cash handout would grow US economy by $2.5 trillion, study says
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Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#2Halfway through:
> These estimates are based on a universal basic income paid for by increasing the federal deficit. As part of the study, the researchers also calculated the effect to the economy of paying for the cash handouts by increasing taxes. In that case, there would be no net benefit to the economy, the report finds.
> "When paying for the policy by increasing taxes on households rather than paying for the policy with debt, the policy is not expansionary," the report says. "In effect, it is giving to households with one hand what it is taking away with the other. There is no net effect."
TL;DR: If we create money, there's more money in the economy. If we don't create money, there's not.
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#3Halfway through: > These estimates are based on a universal basic income paid for by increasing the federal deficit. As part of the study, the researchers also calculated the effect to the economy of paying for the cash handouts by increasing taxes. In that case, there would be no net benefit to the economy, the report finds. > "When paying for the policy by increasing taxes on households rather than paying for the p…
HA! I had just copied those exact 2 paragraphs and was going to paste them here but you summed it up well enough
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#4Halfway through: > These estimates are based on a universal basic income paid for by increasing the federal deficit. As part of the study, the researchers also calculated the effect to the economy of paying for the cash handouts by increasing taxes. In that case, there would be no net benefit to the economy, the report finds. > "When paying for the policy by increasing taxes on households rather than paying for the p…
Earth-shattering discovery!
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#5Halfway through: > These estimates are based on a universal basic income paid for by increasing the federal deficit. As part of the study, the researchers also calculated the effect to the economy of paying for the cash handouts by increasing taxes. In that case, there would be no net benefit to the economy, the report finds. > "When paying for the policy by increasing taxes on households rather than paying for the p…
I'm a libertarian. I think that the UBI could allow for economic growth based solely on the power it as to eliminate the welfare trap. However, this would only work as a replacement for all welfare, though. It would have to replace welfare, food stamps, social security, etc, with the exception of medicaid and medicare.
I support UBI only as a replacement for existing (bad) welfare systems. I think UBI in conjunction with simplified tax code could inject life into the inner cities. Add onto that decriminalization of all controlled substances, and you've got a huge boon.
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#6Wait a minute, though: Every adult gets $1,000/month. That's $12,000/year. How many adults do we have? Well, the US population is 326,000,000. Median age is 37, so I'll guess that 3/4 of the population is "adult" (age >= 18). That means that paying this handout will cost $12,000/person * 244,500,000 people = $2.934 trillion. That's... not a net win.
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#7Do people actually believe this universal basic income nonsense? If money isn't scarce but goods are the goods become proportionally more expensive. Inflation is a thing.
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#8It would work if you take it from the 1%
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#9I think it is really dangerous to hand over an amount of money that lets people completely check out of contributing to society. Alone maybe that is a sketchy amount to live off of but with roommates in an inexpensive area without a car it seems very doable.
If you look at the amount of entertainment you can get from a used cheap desktop computer and internet connection along with the low cost of at home production of marijuana/alcohol I think it would be disastrous socially and economically.
Maybe that is overly pessimistic but I'm far more in favor of minimum wage elimination with government wage substitution up to some higher livable minimum and in the case that someone can't find a job the government acts as an employer of last resort creating some sort of busywork that has some social benefit.
Re: $1,000 per month cash handout would grow US economy by $2.5 trillion, study says
#10It would work if you take it from the 1%
No it wouldn't. It would ruin the buying power of the dollar which is effectively the same as giving every working person a pay cut. Those who own companies and assets would be who benefits.