The Case for Free Money: Why Don't We Have Universal Basic Income?

http://www.newyorker.com/magazine/2016/06/20/why-dont-we-have-universal-basic-income

by applecore • 10 years ago

4 3 10 years ago

byoung2• 10 years ago

depending on how the program was structured, it would likely cost at least twelve to thirteen per cent of G.D.P.

None of the studies seem to have explored the possibility that given a salary cushion, people who would ordinarily have taken a low income but steady job might pursue something riskier, but with higher payoff, helping GDP in the process. You might see a lot of people more comfortable starting businesses and creating jobs.

zzalpha• 10 years ago

Not to mention that by providing UBI, you have an inherent economic stimulus as the folks who would benefit most are the most likely to spend the money immediately on basic needs like food, shelter, etc, which drives activity throughout the economy.

pigpaws• 10 years ago

Things like this is what was said when the gov't instituted 'welfare'.

"If their food and basic necessities are taken care of, they'll have more money to put towards housing and education to get out of the 'hood."

where does that money come from? where does it end?

a better idea (IMO): No taxes on the first $25k. That would be up to $25,000 tax free for everyone... high enough to help people in low-paying jobs, low enough for us not to care if someone games the system by make $24k and deferring $2k.

any arguments against?

The Case for Free Money: Why Don't We Have Universal Basic Income?

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