Why universal basic income is gaining support, critics or The destruction of our Republic
It's back again...
"He figures the plan would cost about $1.75 trillion a year. Ending welfare programs would save about a third of that. Another third could come from ending the tax deduction for mortgage interest and other write-offs. The remaining third could come from new sources such as a tax on carbon emissions or financial transactions."
1/3 through "ending welfare programs" - will never happen but okay...
1/3 through "ending the tax deduction for mortgage interest and other write-offs" - So they are going to take my mortgage interest deduction away and give it to someone else.
1/3 through more taxes - robbing Peter to pay Paul again
Also, this is paper napkin figures, government will double the cost with half the production.
"He figures the plan would cost about $1.75 trillion a year. Ending welfare programs would save about a third of that. Another third could come from ending the tax deduction for mortgage interest and other write-offs. The remaining third could come from new sources such as a tax on carbon emissions or financial transactions."
1/3 through "ending welfare programs" - will never happen but okay...
1/3 through "ending the tax deduction for mortgage interest and other write-offs" - So they are going to take my mortgage interest deduction away and give it to someone else.
1/3 through more taxes - robbing Peter to pay Paul again
Also, this is paper napkin figures, government will double the cost with half the production.
Your comment makes sense, but it also accepts craigerb's premise that jobs are something that can be rationed. Jobs are just people serving one another for money. To get things done, we need to serve one another, either willingly in mutually-agreed trade or under the whip or some other sort of coercion.
Suppose a kid sees I'm letting my grass grow long and offers to mow it. I might use that time to find more clients of my own or to get rest/energy hanging out with my family or just goofing off on a website like now. That might cause me to hire more people, ship more overnight packages, send more bins of electronic junk to my neighbor who sells them on e-bay and keeps half the money. All these people are serving one another. It doesn't make sense to share these precious jobs. There are as many jobs as people can find ways to serve one another.
then I guess all those sub-humans would have to go on UBI also.
This never made sense to me except in cases where taxes are nearly 100% or there's a "cliff" where a change in earnings affects taxes on all income.
Let's say the Fed gov't taxes 30% of GDP now, and we reduce it to 25%. GDP would have to increase 20% to cause revenue to stay constant. GDP growth will stay in the 3% range. Maybe by lowering taxes, leaving business alone, and providing a safe place to do business, the gov't can make growth 5% or more. After years of compounding, that's huge. So eventually gov't spending, and spending on everything, could be way higher. But it's a dream that you can somehow cut taxes and not increase borrowing or decrease gov't spending. Gov't spending must decrease.
He said they should be if interest income is taxed.
You’ll find that the government can collect more in tax revenue by reducing the tax rates and increasing the “velocity” of the money. Each time the dollar changes hands, the government gets a piece of it.
See the Laffer curve - https://en.wikipedia.org/wiki/Laffer_...
Are you saying that you would prefer to subsidize guaranteed jobs over guaranteed income? If so, nether would work. If the job is guaranteed, the employee would not have a motive to keep the job. It would be glorified adult-daycare. The bureaucracy of this program would cost more than simply just handing the people our money.
Or are you saying you would prefer to receive a guaranteed job over guaranteed income? If this is your true intent, I truly feel sorry for you and wish you all the best. You’re not in control of your own status and future status but look to other to provide for you. Very said, I hope for you that this isn’t what you intended?
By the way, “Huh” isn’t a word…
If you've ever read "The Gulag Archipelago" you'll recall that was Stalin's plan. It didn't work out well for millions of unemployed.
I agree the technology will disrupt nursing homes and assisted living.
Also, when my kids grouse about doing housework, I tell them one day the task will be done by a robot and doing it yourself will seem as primitive like having to out in the cold to use the outhouse.
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