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Spanish minister proposes €20k ‘universal inheritance’ from age of 18

theguardian.com

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Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#11

Post by xsmasher »

goodbyesf wrote: post #5
simonblack wrote: post #3

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K. The only downside is that it would collapse the war machine since no 18 year old will sign up for the military.

Some people are not equipped to handle that responsibly. They'll promise it to rent-a-center in perpetuity and still be hungry halfway through the month.

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#12

Post by mike_hock »

helpfulclippy wrote: post #4
simonblack wrote: post #3

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

Exactly. There’s a lot of danger waiting for you when you grow up and leave home. Money would certainly solve some problems, but if everyone knew every 20 year old had a big check they could go get a piece of, it will cause many more problems. 30 year olds will also have the same bullseye painted on their backs, but will at least have experience.

Experience with what? A sudden 20k windfall?

This will create an industry that is centered solely around milking 30 year-olds for every penny they're worth as soon as they turn 30 and then drop them like a hot potato.

This will drive up prices immensely because there's a continuous stream of people turning thirty and your hard-earned 20k is worth the same as their 20k that just fell from the sky.

It's a completely insane idea, and it doesn't solve any problems. When the 20k is gone, it's gone. It's precisely the people who need it the most that are the least likely to stuff it in the bank.

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#13

Post by JimtheCoder »

goodbyesf wrote: post #5
simonblack wrote: post #3

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K. The only downside is that it would collapse the war machine since no 18 year old will sign up for the military.

"Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K."

Because next election cycle, some politician will set themselves apart by promising the 20k, plus a supplement for healthcare...and the whole circus begins again...

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#14

Post by pcurve »

goodbyesf wrote: post #5
simonblack wrote: post #3

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K. The only downside is that it would collapse the war machine since no 18 year old will sign up for the military.

"welfare, healthchare, social security, etc"

Healthcare: Some people get unlucky with genetic lottery and will require far more cost in care than others. Some type of universal coverage still needs to exist imho.

Social security: Unfortunately, not everyone is good with money. Social security is a mechanism for balancing out and restributing wealth, but it's also an investing service for those who don't know how to.

I'm not against some type of UBI, but there are some downsides with getting rid of existing programs. imho.

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#15

Post by thrawa8387336 »

mike_hock wrote: post #12
helpfulclippy wrote: post #4

Earlier quoted context omitted.

Exactly. There’s a lot of danger waiting for you when you grow up and leave home. Money would certainly solve some problems, but if everyone knew every 20 year old had a big check they could go get a piece of, it will cause many more problems. 30 year olds will also have the same bullseye painted on their backs, but will at least have experience.

Experience with what? A sudden 20k windfall? This will create an industry that is centered solely around milking 30 year-olds for every penny they're worth as soon as they turn 30 and then drop them like a hot potato. This will drive up prices immensely because there's a continuous stream of people turning thirty and your hard-earned 20k is worth the same as their 20k that just fell from the sky. It's a completely in…

It's a people problem not a tech... sorry, money problem.

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#16

Post by 4g »

Israel introduced a similar concept in 2017 that deposits a small amount of money monthly into a savings or investing account for each child, money can be withdrawn at the age of 18, or later at 21 with a small bonus.

https://www.btl.gov.il/English%20Homepage/Benefits/Children/...

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#17

Post by jay_kyburz »

pcurve wrote: post #14
goodbyesf wrote: post #5

Earlier quoted context omitted.

Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K. The only downside is that it would collapse the war machine since no 18 year old will sign up for the military.

"welfare, healthchare, social security, etc" Healthcare: Some people get unlucky with genetic lottery and will require far more cost in care than others. Some type of universal coverage still needs to exist imho. Social security: Unfortunately, not everyone is good with money. Social security is a mechanism for balancing out and restributing wealth, but it's also an investing service for those who don't know how to.…

I _am_ against UBI for exactly the reason you outline. We'll still need all the agencies and bureaucracy to help those who just need more help.

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#18

Post by jahnu »

thegrim33 wrote: post #7
mensetmanusman wrote: post #6

Are there enough rich people in Spain to redistribute and give everyone aged 18+ €20k?

Well, if just counting all the billionaires [1], they have a total net worth of ~135 billion, and there's currently ~47MM people in Spain [2], so if you sent out the stormtroopers and forcefully confiscated every last penny of net worth from all the billionaires, and redistributed it equally, each person would get a one-time payment of ~2,800. I'd theorize that the resulting destruction to the economy/country in the…

> ~47MM people in Spain … and redistributed it equally

I know the OP asked that but isn’t this really about future people turning 18 which would be massively fewer people and roll along every year?

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#19

Post by onlyrealcuzzo »

simonblack wrote: post #3

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

That's just debt, which everyone in the West is already swimming in.

Re: Spanish minister proposes €20k ‘universal inheritance’ from age of 18

#20

Post by germandiago »

simonblack wrote: post #3

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

As a spanish who pays 47% PIT and a ton more taxes including 21% VAT, tax for having a property (only one!) and that I see how much money is wasted on top of a 113% official GDP debt... and I can tell you tjat to pay what I pay you do not need to make even 80,000 eur/year.

Who do you propose it should pay those 20,000? This woman, who talks to people as if they were 10 yo or less, said "the rich people". Do you know how much of that proposal you can pay with "the rich" in Spain? Very little. And by very little I mean not even 5% of that, probably less (I did not make the exact numbers but I am pretty sure it won't go beyond that).

If you knew politicians, especially spanish politicians, you should know that the only thing they want is more money controlled through their hands. You know why, right? We all know it...

Every spanish has 35,000 eur debt right now. A great idea, yes... to charge pwople that did not ask you with more debt til services collapse.

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