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Talk to me about universal basic income
Posted on 9/29/20 at 10:03 pm
Posted on 9/29/20 at 10:03 pm
Had a friend bring it up to me tonight. Yang claims because it’s from money already in the economy it won’t cause inflation. Sounds suspiciously like communism. What are the boards thoughts?
10
Posted on 9/29/20 at 10:04 pm to jlovel7
We already have universal basic income
People that have jobs make income
The Democrat scum without jobs get welfare
He is a moron
People that have jobs make income
The Democrat scum without jobs get welfare
He is a moron
Posted on 9/29/20 at 10:05 pm to jlovel7
We’re gonna need it with automation coming
Posted on 9/29/20 at 10:05 pm to jlovel7
quote:
universal basic income
Is for lazy retards.
Posted on 9/29/20 at 10:06 pm to jlovel7
quote:
Yang claims because it’s from money already in the economy it won’t cause inflation.
How so? Even if true, it’s money that will flow to other and will be spent and a multiplier effect will apply potentially leading to inflation.
Posted on 9/29/20 at 10:09 pm to jlovel7
UBI is actually a solid idea in lieu of the many other government programs we already pay out, and his implementation ideas are sound.
It won’t be popular on this board of course because of “gah socialism” but it’s an effective way to redistribute some wealth and in turn build very solid economic drivers within the poor and middle class.
Now, what comes into serious question is his plan to pay for it. I’m not convinced it would work
It won’t be popular on this board of course because of “gah socialism” but it’s an effective way to redistribute some wealth and in turn build very solid economic drivers within the poor and middle class.
Now, what comes into serious question is his plan to pay for it. I’m not convinced it would work
Posted on 9/29/20 at 10:09 pm to Jyrdis
It wouldn't cause inflation if it were debt financed. It would be a nightmare deflationary scenario in that case.
Anybody know if this would be legal to create a direct tax with?
Anybody know if this would be legal to create a direct tax with?
Posted on 9/29/20 at 10:11 pm to JesusQuintana
quote:
It won’t be popular on this board of course because of “gah socialism” but it’s an effective way to redistribute some wealth and in turn build very solid economic drivers within the poor and middle class.
The sure sign someone is a failure in life.
Posted on 9/29/20 at 10:17 pm to 93and99
Not at all. I’m securely upper middle class and in a great equity position with little debt. Diversified investments. Very secure financially and on pace to retire early if I want to.
That doesn’t mean that I think it’s right or beneficial that corporations making billions of dollars to be able to pay close to nothing in taxes.
Money in the hands of poor and middle class people is a heavy economic driver because these people, for the most part, spend their money.
I already said that I’m not sure the plan is solid. The better idea, IMO, is to incentivize those tax breaks they are already getting into things like lowering prices for products/services, raises/benefits for employees and localizing production.
That doesn’t mean that I think it’s right or beneficial that corporations making billions of dollars to be able to pay close to nothing in taxes.
Money in the hands of poor and middle class people is a heavy economic driver because these people, for the most part, spend their money.
I already said that I’m not sure the plan is solid. The better idea, IMO, is to incentivize those tax breaks they are already getting into things like lowering prices for products/services, raises/benefits for employees and localizing production.
Posted on 9/29/20 at 10:20 pm to jlovel7
quote:
Talk to me about universal basic income
Tell your friend it doesn’t hurt to hit your hand with a hammer and then hand him a hammer.
He’ll tell you of course it hurts.
No it doesn’t.
Everyone who has hit their hand with a hammer has been hurt
They just didn’t hit it right. Go ahead. Hit your hand really hard. It might not hurt this time. In fact, your hand might be even better than before. In theory, when you swing the hammer your hand will react perfectly and be even better afterward despite all evidence and historical precedents to the contrary.
When he looks at you like you’re an idiot tell him you just explained universal basic income .
This post was edited on 9/29/20 at 10:21 pm
Posted on 9/29/20 at 10:24 pm to JesusQuintana
quote:
won’t be popular on this board of course because of “gah socialism” but it’s an effective way to redistribute some wealth and in turn build very solid economic drivers within the poor and middle class.
The basic cost of everything will increase respectively as now people will have X% more income. That’s how inflation works.
It won’t lead to runaway inflation and devaluation of the dollar, but it will lead to people clamoring for more and more and more dollars in their UBU check because milk is now $9/gallon and bare necessities have tripled in price.
Posted on 9/29/20 at 10:26 pm to JesusQuintana
quote:
That doesn’t mean that I think it’s right or beneficial that corporations making billions of dollars to be able to pay close to nothing in taxes.
People pay taxes. People in corporations pay taxes. You want to end that loophole? Make taxes flat and reduce the hunker if regulations on them.
Posted on 9/29/20 at 10:27 pm to jlovel7
it's one more bill fo' da white folks to pay
Posted on 9/29/20 at 10:28 pm to JesusQuintana
quote:
That doesn’t mean that I think it’s right or beneficial that corporations making billions of dollars to be able to pay close to nothing in taxes.
You obviously don't understand the tax code.
I will agree to corporations paying taxes based on gross revenue. No more deductions of any kind.
If you agree citizens should pay taxes based on gross income.
No deductions for anyone , no more child tax credits , no SALT deductions , no standard deduction and no more earned income credit.
EVERYONE should pay their fair share , not just the wealthy and corporations.
Posted on 9/29/20 at 10:30 pm to 93and99
I’m all for this as long as all income taxes are no longer withheld from paychecks and people have to write a check to the government, local, state, and fed, every month.
Posted on 9/29/20 at 10:39 pm to jlovel7
quote:
Yang claims because it’s from money already in the economy it won’t cause inflation.
Have you ever seen a true perpetual motion machine?
No?
Know why?
It can't be done...just like Yang's perpetual money machine.
Posted on 9/29/20 at 10:58 pm to jlovel7
UBI is just another twist on minimum wage. Sounds good to the uninformed. Every time you raise minimum wage or the UBI, Inflation goes up and so you still not going to be any better off. All UBI will do is drive inflation and get more people sucking on the government teet.
Posted on 9/29/20 at 11:10 pm to jlovel7
Id have to listen to him again, but there was something I didn't agree with but other things that could work when he was explaining his idea.
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