UBI, or universal basic income, is a form of direct cash assistance to help the most vulnerable get back on their feet. A new study in Denver suggests it works.
Well not a tiny bit.
Increase taxes in the 0.1% a whole fuckload. I’d increase taxes on billionaires to 90% and start freezing assets of anyone who tries to go overseas to avoid them. levy the world’s strongest ever economic and geopolitical sanctions against countries that harbor billionaire american tax evasion expats or something.
Ok what do you do when foreign investment dries up and no foreign entity wants their money in your bank since you have a habit of seizing it? How strong is the economy then?
You do realize that marginal tax rates were about 90% in America before, right? The single biggest reason they aren’t anymore is much like how Walmart keeps their prices low - part of a race to the bottom. You’re right, they will go elsewhere. They didn’t before because there were no good or practical options. And as long as countries do what Ireland did not too long ago, it will continue to be a problem.
Ideally you use it to reduce/depreciate services that are more expensive counter parts to what UBI provides. Ideally a reduction in homeless shelters, food banks, police services, emergency hospital ect
Rolling back trump’s $2 Trillion tax cuts for the rich and corporations would be a great start. From there, increase taxes on both groups substantially. They will still be rich and still be making record profits, but we will gain social safety nets such as UBI in the process.
Alternatively, we could generate funding for this the same way we did to fund over 20 years of military occupation of Iraq and Afghanistan. It could come from the same place we get the funds for subsidizing fossil fuel companies. It could even come from the very same money printers we used to give free PPP loans to “businesses” during the height of the pandemic.
The point being, if it’s good policy, a healthy functioning government does it, and doesn’t waste time asking questions about how we pay for things. Taxes. The answer is always taxes, it’s literally called the Internal Revenue Service.
A UBI is universal in the sense that it applies without a means test or a need to work. Traditional social welfare programs have many overly restrictive policies that limit who is eligible. This results in only about ~25% of those who are eligible actually using those programs.
If you are arguing that the linked article is not an example of a UBI, you would be correct as it is a targeted basic income.
It could come from rich people or it could come from cutting back on the services that go hand in hand with homelessness. Shelters, policing, less crime, etc
I’m not against it, but where would the money come from?
Who cares? Did you not see how it was cheaper than what we’re currently doing because fewer people wind up in hospitals and prisons?
Where does the more money we are currently spending come from?
Rich people. Increase taxes a tiny bit on the 1% and this will be paid for, and then some.
Well not a tiny bit. Increase taxes in the 0.1% a whole fuckload. I’d increase taxes on billionaires to 90% and start freezing assets of anyone who tries to go overseas to avoid them. levy the world’s strongest ever economic and geopolitical sanctions against countries that harbor billionaire american tax evasion expats or something.
Let’s see someone run on that platform and not get JFKed before election day first.
Ok what do you do when foreign investment dries up and no foreign entity wants their money in your bank since you have a habit of seizing it? How strong is the economy then?
I don’t think you understand the consequences
Won’t happen if they still want access to your markets.
Plenty
No one wants access to markets that seize money or companies. It is why Venezuela isn’t seeing foreign investment.
If foreign money isn’t coming in your economy us going to be very weak comparatively.
With natural resources and trillions in seized assets? I doubt it.
I suspect you do doubt it but I doubt that you have any education in macroeconomics given that your assertions make zero sense IRL.
You do realize that marginal tax rates were about 90% in America before, right? The single biggest reason they aren’t anymore is much like how Walmart keeps their prices low - part of a race to the bottom. You’re right, they will go elsewhere. They didn’t before because there were no good or practical options. And as long as countries do what Ireland did not too long ago, it will continue to be a problem.
And I suspect you sniff farts.
How convenient “We caaaaaaan’t take billionaire money or tehy wiww weave!” lines up with power structures set up by billionaires.
The rich have always funded parroting of taxes being impossible to implement and no one believes it
Ideally you use it to reduce/depreciate services that are more expensive counter parts to what UBI provides. Ideally a reduction in homeless shelters, food banks, police services, emergency hospital ect
Rolling back trump’s $2 Trillion tax cuts for the rich and corporations would be a great start. From there, increase taxes on both groups substantially. They will still be rich and still be making record profits, but we will gain social safety nets such as UBI in the process.
Alternatively, we could generate funding for this the same way we did to fund over 20 years of military occupation of Iraq and Afghanistan. It could come from the same place we get the funds for subsidizing fossil fuel companies. It could even come from the very same money printers we used to give free PPP loans to “businesses” during the height of the pandemic.
The point being, if it’s good policy, a healthy functioning government does it, and doesn’t waste time asking questions about how we pay for things. Taxes. The answer is always taxes, it’s literally called the Internal Revenue Service.
Would you ask that if it came to the defense budget?
I would rather the government spent its money on directly helping citizens rather than only giving it to the military industrial complex.
The defense budget doesn’t purport to be a replacement for capitalism.
Neither does a UBI. It merely claims to help people improve their life.
You’re the one bringing capitalism into this.
Then in what sense is it “universal”?
It’s universal in that everyone receives it.
A UBI is universal in the sense that it applies without a means test or a need to work. Traditional social welfare programs have many overly restrictive policies that limit who is eligible. This results in only about ~25% of those who are eligible actually using those programs.
If you are arguing that the linked article is not an example of a UBI, you would be correct as it is a targeted basic income.
It could come from rich people or it could come from cutting back on the services that go hand in hand with homelessness. Shelters, policing, less crime, etc