Universal Basic Income

[bryant.coleman]

I personally like the idea but feel that its only good for countries where the population is under control. Instead of providing basic income, the government can also consider providing basic necessities, which I believe would satisfy the same goal.

That is a much better proposal.

If the government provides free money, then there will be no value for that money. Most of it will be used to buy weed and alcohol. Inflation will be out of control and people will be discouraged from saving their earnings.

On the other hand, the government can provide the basic necessities for free. This can include education (up to college level), healthcare, electricity (up to a certain limit), and job training.

[Spendulus]

I personally like the idea but feel that its only good for countries where the population is under control. Instead of providing basic income, the government can also consider providing basic necessities, which I believe would satisfy the same goal.

That is a much better proposal.

If the government provides free money, then there will be no value for that money. Most of it will be used to buy weed and alcohol. Inflation will be out of control and people will be discouraged from saving their earnings.

On the other hand, the government can provide the basic necessities for free. This can include education (up to college level), healthcare, electricity (up to a certain limit), and job training.

The actual goal is simply to take all of your money.  Then, as to what is metered out and to who, that's a different matter.  It can be very little, to the select few, and some tokens, to the masses.

Remember, beggars are easier to please.

[bbc.reporter]

The Labour Shadow Chancellor has just fielded the idea.
We all know that there isn't nearly enough jobs to go around as it is - and with further automation, robots, the information age etc it is going to become way worse.

...

What do you think ?

I tend to agree. And it's not just the development made on automation, robots, etc... It's also the development and breakthroughs made in the field of AI. As computers are built and eventually become in ways smarter than humans, this will breed a new useless class in human society.

Very scifi-like, I know. But as the technology progresses in leaps and bounds, you really cannot deny this possibility.

The Universal Basic Income is a good idea, the implementation really matters. But as we all know, politicians always get it wrong.

[bryant.coleman]

I tend to agree. And it's not just the development made on automation, robots, etc... It's also the development and breakthroughs made in the field of AI. As computers are built and eventually become in ways smarter than humans, this will breed a new useless class in human society.

Very scifi-like, I know. But as the technology progresses in leaps and bounds, you really cannot deny this possibility.

The Universal Basic Income is a good idea, the implementation really matters. But as we all know, politicians always get it wrong.

Artificial intelligence is just an urban myth. Get over with it. No matter how much technology progresses, machines will not be able to completely replace humans. Look at what happened in the late 80s, when there was wide-spread fears that computers will make everyone jobless. Check the unemployment rate in the late 80s, to that of now.

[bbc.reporter]

I tend to agree. And it's not just the development made on automation, robots, etc... It's also the development and breakthroughs made in the field of AI. As computers are built and eventually become in ways smarter than humans, this will breed a new useless class in human society.

Very scifi-like, I know. But as the technology progresses in leaps and bounds, you really cannot deny this possibility.

The Universal Basic Income is a good idea, the implementation really matters. But as we all know, politicians always get it wrong.

Artificial intelligence is just an urban myth. Get over with it. No matter how much technology progresses, machines will not be able to completely replace humans. Look at what happened in the late 80s, when there was wide-spread fears that computers will make everyone jobless. Check the unemployment rate in the late 80s, to that of now.

When I say AI, I don't mean the uber smart where you could strike up a conversation with . I mean smart enough to automate more everyday human jobs and endeavors. Like those self driving cars being developed.

[V for Varoufakis]

It is the only way. For example: a machine does the work of 1000 men. So 1 man handles the machine and the other 999 do what?

[bryant.coleman]

It is the only way. For example: a machine does the work of 1000 men. So 1 man handles the machine and the other 999 do what?

The other 999 will get some other job.

For example, as I had pointed out earlier, the invention of computer and internet has created tens of millions of jobs. There are millions of website owners, who earn decent income by displaying third party advertisements on their sites. And there are even more number of content creators, who lend their services to these website owners. Technology always creates more jobs than it takes away.

[Hamukione]

Basic income sounds like lazy people asking to work less and get the same pay.

Study hard if you want to make good money.
Or be lazy and lose everything you have.

I live in Denmark where we have a lot of "Free" things..
Healthcare and just about anything tbh..

We pay for it in tax though.. I like the idea.. But I dont want to pay even more so others can sit at and do nothing.
We have way too many from the middle east and other parts of the world that come here for our social benefits already.

As said above..
Dont give the people money.. Give them opportunity to make it themselves.

[bbc.reporter]

It is the only way. For example: a machine does the work of 1000 men. So 1 man handles the machine and the other 999 do what?

The other 999 will get some other job.

For example, as I had pointed out earlier, the invention of computer and internet has created tens of millions of jobs. There are millions of website owners, who earn decent income by displaying third party advertisements on their sites. And there are even more number of content creators, who lend their services to these website owners. Technology always creates more jobs than it takes away.

It's not as simple as you want it to appear to be. Just look at the state of the world today.

[bryant.coleman]

Basic income sounds like lazy people asking to work less and get the same pay.

If the world was solely inhabited by lazy people, then there would have been no issues. If the citizens of a particular country becomes lazy, then they will be overtaken by more hard working people. For example, look at the state of France now. The unions have demanded ridiculously high benefits and extremely low working hours. And as a result, the unemployment is at all time high.

[andulolika]

Basic income sounds like lazy people asking to work less and get the same pay.

Study hard if you want to make good money.
Or be lazy and lose everything you have.

I live in Denmark where we have a lot of "Free" things..
Healthcare and just about anything tbh..

We pay for it in tax though.. I like the idea.. But I dont want to pay even more so others can sit at and do nothing.
We have way too many from the middle east and other parts of the world that come here for our social benefits already.

As said above..
Dont give the people money.. Give them opportunity to make it themselves.

I live in sweden, and its similar, and tell me whose fault it is that all these cunts have such rights?

[cocos]

The affordability of a basic income proposal relies on many factors such as the costs of any public services it replaces, tax increases required, and less tangible auxiliary effects on government revenue and/or spending (for example a successful basic income scheme may reduce crime, thereby reducing required expenditure on policing and justice.)

A 2012 affordability study done in the Republic of Ireland by Social Justice Ireland found that basic income would be affordable with a 45% income tax rate. This would lead to an improvement in income for the majority of the population.[22]

Paul Mason stated that universal basic income would increase social security costs, but that it would also reduce the high medical costs associated with diseases of poverty, by reducing stress, diseases like high blood pressure, type II diabetes etc. would become less common.[23]

https://en.wikipedia.org/wiki/Basic_income#Affordability

[cocos]

Why inflation is a problem? Because of debt? You can delete the debt anytime you want and start again.

[practicaldreamer]

inflation = too much money chasing too few goods (either that or cost push inflation - but thats not applicable here)

But as stated above, no new wealth (or even money) would be created with a UBI - what exists already would be distributed differently. If this means a 45% tax rate then so be it.

Not so long ago the top rate (in the UK) was 98%.

The world kept on turning.

[bryant.coleman]

Why inflation is a problem? Because of debt? You can delete the debt anytime you want and start again.

You cannot simply delete the debt. If you do that, then your currency will become worthless (look at what happened to the Zimbabwean Dollar, and see what is happening with the Venezuelan Bolivar right now). And when your currency become worthless, two things can happen.

a) hyperinflation
b) traders will refuse to accept the currency (you may need to depend upon barter to purchase goods).

[cocos]

Debt is digits. You can delete or create digits.

[Daniel91]

Debt is digits. You can delete or create digits.

It's not simple like that.
Someone, some bank or financial institution gave this money to other country, company or individual.
If they can't pay their loan it means bank or financial institution have to accept financial lost.
Many such lost can even cause collapse of the bank or its bankruptcy.
So, debt is never digit on the screen, it's much more.
Because of such situations, banks are very careful with their loans and high risk countries have bigger interest on loans than more stable countries.
Credit rating agencies also play an important role in protecting the banks and financial institutions from unexpected financial losses and provide an assessment of the financial risk for each country and company in the world.

[criptix]

Book money is "digital" money please reread how public and private money creation works.

Atleast something like that bitcoiners should know...

Such sadness