Universal Basic Income is Capitalism 2.0

Post by unrealhoang » Thu, Jul 30, 2020, 2:37 AM UTC

blackflame7000 wrote: post #88

jay_kyburz wrote: post #79

I understand and agree with how a UBI will benefit those that are currently falling between the cracks and not receiving any assistance. I can also see the benefits of greatly simplifying the social security system. (If it was implemented in a way that was actually simple. i.e. no distinction between sick, unemployed, old, lazy) But I don't understand why people don't believe the UBI will just become the new definiti…

Exactly. The key to making people happier is not to give them money, but create more jobs that give people meaning and purpose in their lives.

Post by DeonPenny » Thu, Jul 30, 2020, 2:38 AM UTC

toomuchtodo wrote: post #38

DeonPenny wrote: post #28

I feel like this is the perfect example why everyone should at some point be required to start a business. Because some of these ideas stem from to many people not understand the economy in a real sense because they are always workers and see the world through that lens.

You don’t need to make an attempt as a business owner to understand why the economy is broken. A change in perspective doesn’t fix a broken system. Edit: I am absolutely biased against a system that favors the wealthy at the detriment to your average citizen. “Look at how well this system works for us while the rest of you suffer!” is not helpful.

Post by gpanders » Thu, Jul 30, 2020, 2:38 AM UTC

elil17 wrote: post #37

bluedevil2k wrote: post #12

I can’t help but think that UBI would distort job markets. Let’s pick an example of a “sucky job” (and I say this as just an example, I realize these guys work hard and are vital). A garbage man. He get’s paid $42k a year because they have to find people who would be willing to do this sucky job and need to pay higher than minimum wage to do so. At some point of income, people would be willing to accept the suckiness…

Or crappy jobs should have to pay more. Handling stinking garbage all day sounds like a job that should be high paying given how miserable it is. But due to desperation, people without other options are willing to accept very low amounts of money to do it. With UBI, the price of hiring a garbage collector would equal the price necessary to fairly compensate someone for having to pick up garbage.

Post by thephyber » Thu, Jul 30, 2020, 2:39 AM UTC

jameslevy wrote: post #145

thephyber wrote: post #120

Earlier quoted context omitted.

The most likely implementation in the existing US federal government is a negative income tax. > I definitely would choose not to work or work less if that money came free from government. You aren't alone, so your $1200 would not go as far in that future as it does now. There would be some inflation (perhaps only localized increased costs to some industries), but I'd suspect that people working less would be a featu…

As us engineers like to say, the goal is to automate ourselves out of a job.

Post by nbardy » Thu, Jul 30, 2020, 2:39 AM UTC

alex_young wrote: post #114

A UBI paid for with a carbon tax would both save us from the worst consequences of global warming and stimulate the economy. It's hard to find a rational excuse for not doing it. Planet Money did a great episode on this idea over 7 years ago: https://www.npr.org/sections/money/2013/07/12/201502003/epis... They did a followup 5 years later: https://www.npr.org/sections/money/2018/07/18/630267782/epis... It seems like…