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The Political Politics thread: Come see my huge election!

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The Political Politics thread: Come see my huge election!

Old 06-14-2019, 12:00 PM
Mishri's Avatar
Join Date: Nov 2007
Location: Great Falls, MT
Posts: 3,780

Basic Income.. I've read about it for awhile now.. I've felt it is inevitable due to automation and removal of many lower income jobs... as more and more things are done via AI and robots, there will be fewer and fewer jobs and more money for the wealthy that own them.

so.. lets say we started it now.. gave every adult(18+) $500/month just for being alive. It would cost the US gov't $12,6031,900,000 per month $1.5 trillion per year.

Pros and Cons?

How to pay for an addition of 1.5 trillion in spending.

- cut other social programs, an additional 6k per month will push people out of poverty and there will be less gov't assistance needed

- add in AOC's suggestion of taxing 70% on income over $10 million - This would only add about $72 billion, so not enough.

- If we don't pay it to those receiving Social Security benefits it removes 62 million people brings the cost down to 1.1Trillion

- legalize drugs and add a federal 50% sales tax? - some would go to addiction help centers and hospital treatment, rest could go towards this program.. this is a whole other discussion

- add a tax just like SS and medicaid and medicare on payroll...

So.. adding taxes, negative aspect of it, we can massage who is impacted by it, but ultimately everyone earning more than 15,000 would likely be impacted, however, for those earning under 100,000 a year it would likely be a net positive.

On to the pros.. $500 a month can be someone's rent in poor areas of the country, you turn 18 suddenly you can afford your own place, fewer housing assistance programs needed.. richer areas might be close to making rent with room mates, a weight lifted.. for those working this could be their car payment, all of their groceries and utilities.. this frees up cash for spending in service industries.. more lattes and dining out possibly, leading to growth in entertainment and food industries.

This redistributes the wealth, pushing up the south which is still struggling as the most impoverished area of the country, in these areas $6,000 per adult boost would really juice their state economy and lead to growth. CA, NY, TX, and a few other states will largely be moving their money to poorer states.

for couples $12,000/yr would push a lot of people out of poverty, and could be used for a lot of things to help them for their future, able to cut back on work to get educated, learn a trade skill or certified or apprentice as an electrician, plumber, etc.. combine the basic income with a media push on local training programs because we are in short supply of skilled labor, and low-skilled labor.. don't push college.. push skills...

CON: some people will use it as an excuse not to work at all... - so far the studies find this isn't true, most people, even lower income people will continue working enjoying the new economic boost...

CON: inflation - Anything that we can't produce enough of to meet the new demand will go up in price... this will likely be housing primarily, possibly services as well.

You guys know I generally oppose the government meddling with our hard earned cash... but.. more I think about the cost/benefit of a program like this the more I think it is a net gain for everyone...

Andrew Yang, one of the democrats running for president, wants $1,000/month for everyone over 18, using a 10% VAT tax which would generate $800 billion/year.. far short of the 3 trillion we'd need for that amount. but it would mostly cover a $500/month stipend.

I also believe $2,000/month for a family would be too much in that many households would simply remove a lower income earner from the labor pool.. once you factor in child care costs and they realize they can easily manage with only 1 earner.. we will further shrink our limited labor pool.. this wouldn't be true in wealthier areas where the average individual income is over 40k.. but for much of the US it would be a problem.... we could issue more work visas though, bringing workers in who aren't earning the $1,000/ month to fill these low income positions vacated so a parent can stay home with the children, which in many cases would be good for the family... so.. I dunno.. maybe 1,000 would work, except for the high price.. I guess most social programs could be removed with that much money going to each adult.

Last edited by Mishri; 06-14-2019 at 12:17 PM.
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Old 06-14-2019, 09:54 PM
TRamsdell's Avatar
Join Date: May 2016
Location: Ny
Posts: 370

Make it 1000 a month if they get sterilized. After a couple generations ( oh ya shut the gates at the borders) there will ne enough money for the ai robot slaves to survive on space cake.
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