Universal Basic Income Has Been Tried over and over Again. It Works Every Time
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Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#2I don't think anyone is doubting that giving people money improves their lives. That seems to be the conclusion of these studies. However what is seemingly _never_ studied is how to finance such an operation. The money has to come out of the system somewhere. Is it with new taxation on XYZ, or slashing services somewhere else etc.
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#3I don't think anyone is doubting that giving people money improves their lives. That seems to be the conclusion of these studies. However what is seemingly _never_ studied is how to finance such an operation. The money has to come out of the system somewhere. Is it with new taxation on XYZ, or slashing services somewhere else etc.
> The money has to come out of the system somewhere.
Governments have the ability to print money out of thin air.
What I'd like to see is how UBI impacts inflation and economic growth.
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#4I don't think anyone is doubting that giving people money improves their lives. That seems to be the conclusion of these studies. However what is seemingly _never_ studied is how to finance such an operation. The money has to come out of the system somewhere. Is it with new taxation on XYZ, or slashing services somewhere else etc.
Or how increasing the money supply affects the price of eggs...
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#5I would like to counter with first hand observed real world evidence.
Raising the minimum wage near where I live (Seattle area) has raised the prices of everything. Rent seeking land owners raise their rents, which passes through to everything and absorbs the water trying to sate the parched desert.
IMO either directly supplying what UBI is supposed to provide, or encouraging local supply to match the market need, thus driving down cost with competition as demand is finally met are how consumer welfare / buying power can be increased.
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#6When has UBI actually every been tried? I don't think any trials really qualify as "Universal".
IMO the universal part is the hard part and changes it drastically. Compared to a small limited trial of giving people money, where does it all come from when it's actually universal? And what are the effects on the overall economy when it's universal?
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#7Shockingly, when you give people who chronically lack resources those resources, they use them to better their circumstances. Who knew.
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#8I don't think anyone is doubting that giving people money improves their lives. That seems to be the conclusion of these studies. However what is seemingly _never_ studied is how to finance such an operation. The money has to come out of the system somewhere. Is it with new taxation on XYZ, or slashing services somewhere else etc.
Money isn't zero sum. We've never let such concerns interfere with funding wars.
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#9I don't think anyone is doubting that giving people money improves their lives. That seems to be the conclusion of these studies. However what is seemingly _never_ studied is how to finance such an operation. The money has to come out of the system somewhere. Is it with new taxation on XYZ, or slashing services somewhere else etc.
I’ve seen proponents suggest we take the money from other welfare programs, as paradoxically the means-testing overhead costs so much that we can afford to pay everyone $X instead of thousands of workers to process thousands of welfare applications. I haven’t seen specific numbers about this though.
Edit: I'm failing to find numbers to support this now.
Re: Universal Basic Income Has Been Tried over and over Again. It Works Every Time
#10I don't think anyone is doubting that giving people money improves their lives. That seems to be the conclusion of these studies. However what is seemingly _never_ studied is how to finance such an operation. The money has to come out of the system somewhere. Is it with new taxation on XYZ, or slashing services somewhere else etc.
> The money has to come out of the system somewhere. Governments have the ability to print money out of thin air. What I'd like to see is how UBI impacts inflation and economic growth.
Currency yes. But not value.