💰 Universal Basic Income | Pros and Cons | UBI
Vložit
- čas přidán 31. 05. 2024
- Universal Basic Income - what is it? What are the pros and cons of the UBI? How would people act if the goverment gave everybody free money? How would free money change our lives? Would it promote creativity or laziness?
Learn Austrian Economics in a fun way!
LINKS
BLOG: econclips.com/universal-basic...
ANIMATIONS: toin.pl/en/
SUPPORT our project: bit.ly/2fgJR9e
Visit our website: econclips.com/
Like our Facebook page: bit.ly/1XoU4QV
Subscribe to our CZcams channel: bit.ly/1PrEhxG
★★★★★★★★★★★★★★★★★★★★★★★★★★
Music on CC license:
Kevin MacLeod: Home Base Groove - na licencji Creative Commons Attribution (creativecommons.org/licenses/...)
Źródło: incompetech.com/music/royalty-...
Wykonawca: incompetech.com/
★★★★★★★★★★★★★★★★★★★★★★★★★★
Econ Clips is an economic blog. Our objetive is teaching economics through easy to watch animated films. We talk about variety of subjects such as economy, finance, money, investing, monetary systems, financial markets, financial institutions, cental banks and so on. With us You can learn how to acquire wealth and make good financial decisions. How to be better at managing your personal finance. How to avoid a Ponzi Scheme and other financial frauds or fall into a credit trap. If You want to know how the economy really works, how to understand and protect yourself from inflation or economic collapse - join us on econclips.com. Learn Austrian Economics in a fun way!
If you appreciate our work, and like the video (not the UBI, the video) please give us thumbs up!
That was a very good video on UBI. Really loved it and your other videos.
Just wanted to mention one mistake in it. You said that "Milton Freidman's Negative Income Tax Idea" is the same as UBI. I argue that it is not the same and actually it is better if you want to get out of the current redistribution mess. Let me explain how:
UBI removes the incentive for people to work. While the negative income tax promotes the incentive to work along with some guaranteed money.
Example: Suppose in UBI everyone will be entitled to get $3000 every month. And if someone's earning is suppose more than $5000 per month he will need to pay tax.
Now, let compare with "Minton Freidman's Negative Income Tax Idea" with -50% -ve tax rate
Formula is: Entitlement Amount = ($3000 - Income) * Negative Tax Rate = ($3000 - Income) * 0.5
- If a person's income is $0 ==> ($3000 - $0) * 0.5 = $1500. So his total earning becomes $1500
- If a person's income is $1000 ==> ($3000 - $1000) * 0.5 = $1000. So his total earning becomes $1000+$1000=$2000.
- If a person's income is $2000 ==> ($3000 - $2000) * 0.5 = $500. So his total earning becomes $2000+$500=$2500.
- If a person's income is $3000 ==> ($3000 - $3000) * 0.5 = $0. So his total earning becomes $3000+$0=$3000.
So, as you can see Negative income tax guarantees an amount $1500 per month, but also creates an incentive to work for people until they reach some threshold amount like $5000.
Hi, do you guys have any sources for this video?
The migration problem is eliminated when only citizens receive UBI. No need to fearmonger on this.
Recently, Austan Goolsbee, chairman of President Obama's financial advisory board, in commenting about this plan, told CBS news, it would take around a 30% VAT to cover a $1000/mo ubi. Here's why I think he's right... See if you agree.
Mathematically, it takes 30% to 39% VAT, on almost everything people spend their money, plus the savings from other welfare programs like SNAP, plus a 30% to 40% data tax to generate the amount needed,to fund every adult $1000/mo.
Please check this, and tell me if you find errors. I provided links below for the resources I used. MATH ☺
According to Reference, the US Census Bureau estimates there are 247,813,910 adults in the US.
➡To provide all adults $1000/mo is $3T Here's the math:
247,813,910 (adults) × $12000 (ubi per year) = $2,973,766,920,000 (amount needed)
which rounds to $3T.
➡To give 200M people $1000/mo, is $2.4T Here's the math: 200,000,000 × $12,000 = $2.4T
So by using the consumer totals available by Balance, online, for 2018, we see the total for all goods and services except healthcare, rent/mortgage, clothes and food was $7.1T .
Another search reveals that data is currently almost a $200B industry. $0.2T.
That's a combined $7.3T.
$7.1T(consumer spending) + $0.2T(data) = $7.3T
If we take 10% of $7.3T, we have $0.73T.
7.3 × .10 = .73
Government savings estimated on freedom-dividend website from welfare programs, like SNAP, is $161.57B or written in trillions, is $0.16157T or. Rounds to $.2T
$0.73T(10% spending & data) + $0.2T(gov't savings) = $0.9T (total to spend on ubi)
➡So that's $0.9T of revenue to pay for $2.4-$3T worth of ubi.
$0.9T - $2.4T = -$1.5T (negative number)
$0.9T - $3T = -$2.1T (negative number)
➡That is $1.5T to $2.1T less than what's needed.
➡To put $1.5T - $2.1T in perspective, in 2018, the IRS collected a record high $1.68T in individual income taxes.
➡$1.5T to $2.1T more money would be added to the national deficit.
➡$1.5T to $2.1T more money would be added into circulation each year. This amount is what's not from other money circulating, it's deficit spending, and would require money printing.
See "Why Don't We Print More Money?" On Economist Thursday channel. In 2014, they made a cartoon illustrating what would happen if the government printed money and gave some to everyone. They show why it doesn't help us buy more.
Also, the Infograph on channel One Minute Economist, "What is Inflation? " I have both videos on a playlist for anyone who wants easy access to the videos.
➡To avoid deficit spending and money printing what would it take to collect enough?
It takes a 30% to 39%VAT and data taxe, plus the government savings. Here is the math.
7.3T(spending & data) × .39 (39%VAT) = 2.8T + $0.2T (gov't savings) = $3T For 247M people.
7.3T(spending & data) × .30(30%VAT) = 2.19T + 0.2T(gov't savings) = 2.4T For 200M people
The math indicates a 30% - 39% VAT on everything except healthcare, rent/mortgage, food and cloths + data tax + welfare savings in order to fully fund it.
Note: No business to business totals are included because the total amount collected by the IRS is still the percent of the VAT on the retail price. Although the VAT passes through the supply chain, businesses are reimbursed throughout the process by showing their receipts to the IRS. A short video that gives a simple explanation of how VAT works in the EU is, "What is VAT and how does it work? Will's Whiteboard" The channel is Avalara. I have it in the playlist, too, if you want easy access to it.
Also, No administration costs were estimated and subtracted for the cost to interact with all the businesses to collect the VAT or to accurately distribute it to between 200M and 247M people. Not sure how to estimate this.
Census estimate to see how many adults there are in US:
www.reference.com/government-politics/many-adults-live-usa-b830ecdfb6047660
Consumer spending totals:
www.thebalance.com/personal-consumption-expenditures-3306107
VAT example explanation:
www.investopedia.com/ask/answers/042315/what-are-some-examples-value-added-tax.asp
Info about our US sales Taxes:
en.wikipedia.org/wiki/Sales_taxes_in_the_United_States
What is data industry worth? (not yet $200B)
www.i-scoop.eu/big-data-action-value-context/big-data-2020-future-growth-challenges-big-data-industry/
Thoughts? Isn't this printing money and passing it out and cause inflation that consumes the benefit, putting everyone back to the starting point?
@@fieldflower7916 left out carbon tax and the estimated market growth from ubi, the roosevelt institution made a study on it. Every calculation that "proved Yangs calculation wrong" had something missing that Yang calculated with.
The pros and cons don't start until the 7:00 mark
Demetrius Middleton thanks
UBI will never start. There, I fixed it for you.
Just cons actually
thank you so much bro. it helps save my time lol
thanks homie
I disagree with your argument at 10:30 because that's a twentieth-century way to look at a 21st century problem. truck drivers are not going to become coders and data analyst with government retraining programs, they didn't like schooling then, what makes I think they like schooling now? and a degree does not guarantee you a job.
Stupid arguments repeated ad nauseam.
Most truck drivers came from other fields. Many are extremely intelligent but have families they need to support so they go over the road where they can make excellent money to send home to their families.
Do you think there's just going to be a switch flipped somewhere that ends all truck driving jobs? It'll be much more gradual than you think and people will ADAPT like we always do.
@@MMGJ10 you dont get it, automation is replacing low income workers, UBI is inevitable, eventually 50% of the labor force will be replaced by automation. Just face the facts and enjoy your $1000 a month bitch
@@breakdance4cash228 things like restaurants and tourism weren't a massive thing untill the 50s. Jobs won't likely be in industries active today.
@@politiekhistorie Wtf are you talking about restaurants have been around since 1000+ years
The number that gets thrown around is $1000 per month or $12000 per year. That is not enough to just retire for the rest of your life, but enough to act as a shock absorber or for those unexpected payments while you earn money elsewhere. So if you want a good life (home and a car included), you will need to get a job to supplement the UBI payments.
I think this is a very good idea. We in America love to be inefficient and to spend money the worst way just for ideological reasons. If we help the needy rich all the time, we should help everyone who is below that level.
Agreed. Those above us have gotten so many tax breaks. I was skeptic at first. But if it supports inventors and progress I'm for it.
We've lost that
UBI is meant to be a minimum income to replace social security. It's not really meant to replace work. I like to see UBI sort of like giving you a power-up in a game of Mario Kart. You still need to do the racing (aka work), but the power up is there to help you out so you dont fall too far behind.
It's like having a safety net underneath you 100% of the time. Currently, the safety net gets removed if you gain too many assets. If you own a car worth more than $5000, you wont qualify for some of the services unless you sell it. Those programs effectively keep you in poverty.
This is another great video to watch on UBI.
czcams.com/video/kl39KHS07Xc/video.html
I agree to the whole "get off your ass and do whatever you can" thing but the bottom line needs to be a tiny bit higher to just leave it at that. One thing is though, the outcome depends on if we all actually get our shit together and do good instead of dumb stuff
Right, exactly, it's designed as a buffer for people who really need it and could be saved or spent by the people for whom it was a bonus. If I got it, for example, I would divide it by my estimated annual income and take that number of hours off of my work week to do other things, like hang out with my family or hike.
Dude. I know that if my friends an I got into a group of 4, we would live our lives playing video games and with 48k a year, 4 can live pretty comfortably. Maybe one of them works and the rest do stuff around the house. Either way, you have a significant decrease in the number of people working.
The only way it works is if you abolish every other type of welfare and close the borders. This is only a replacement for social security and welfare, not automation insurance.
Also with automation, everything will get significantly cheaper, to the point that it will eventually become almost free. In fact it will become free. The people who invested in making all of the robots did that expecting a profit, but what are they going to do if nobody has money? Get rid of their automation? Nope, they're going to have to "sell" or trash their products, they're not doing anything anymore anyway. At that point, progress will be made by people who are driven by non-monetary gain, like how I believe Elon Musk is for example.
Sounds like a socialist utopia, i know, but thats because of socialist propaganda. It's not socialist, its just post-scarcity which is the goal of all economic systems. I doubt this will happen for a long time, unless a general artificial intelligence gets created. Probably more than a hundred years.
And people (or not people) will invent machines to create stuff they want, which will get automatically produced by a general-purpose assembly line that is completely automated by a very good narrow artificial intelligence. What do they have to gain? Their satisfaction of using unlimited of the thing they wanted in the first place.
The jobs that you discuss as being "unaffected" by automation are those careers that account for a tiny fraction of employed persons (archaeologist here). It is absurd to pass automation off as some overinflated alarmist cry. The reality is that 30% of manufacturing jobs have been lost to automation, and those jobs are not replaced by ones quantitatively or qualitatively better. Also, Andrew Yang's concept of production taxation is a quite ingenious way to curb the high cost, and, in fact, likely totally fund such an incentive. Also, what makes you believe that it would curb productivity? Having access to only baseline need income does not pacify one into discarding ambition. People will work to increase their disposable and investable income.
100, bro!
It all about the impact of automation and technology! Even 20 years ago we couldn't have predicted iPhones, CZcams, Facebook, Cloud Computing and most importantly A.I and Machine Learning! Buckle your seatbelts the world is probably gonna go thru the biggest economic shift since the industrial revolution! We can't apply old theories to a new age problem!! Let's give UBI a try!!
Get your unamerican, traitor, communist ass outta here. You fucking moron.
@@mr.motivation3797 It's totally American, a form of Capitalism and totally the logical way to go.
#Yang2020
#YangGang
Capitalism that doesnt start at 0
True
@@mr.motivation3797 lol american dumbass with name(mr.motivations) has most unmotivated and unmotivational ass in this world
It wouldn't be sipping cocktails by the pool, those cocktails are expensive. The UBI proposed by Yang is only $12k per year which is crazy low for most families. Wouldn't cover most peoples Health Insurance premium or rent/mortgage.
#YangGang
Hell naw #Nobody2020 stop voting for con artists who are in love with publicity.
You mean like the guy that collected massive corporate donations & gave tax cuts in response. None of that trickled down.
Pfizer -->
Donations to GOP: $16M
Tax Cut Received: $39B
GE-->
Donations to GOP: $20M
Tax Cut Received: $16B
Chevron-->
Donations to GOP: $13M
Tax Cut Received: $9B
It's socialism for the rich in exchange for campaign $$$
We need a new Leader
Wasn’t there a “beautiful” healthcare system promised?? Beautiful for who?
Pfizer -->
Donations to GOP: $16M
Tax Cut Received: $39B
Chairman & CEO - compensation $19M
Profits $53 Billion
Pfizer beats profit estimates but lowers its 2018 revenue forecast
What did the people get for their loss of tax dollars in this scenario?
at the very least it'll help families who are living paycheck to paycheck have a little more support. Sadly, people who have an issue with spending won't benefit at all or will most likely acquire more debt relying on their $1000 check to come in.
@@LostxToxAxSnail people thing that everyone will become lazy and fall into their comfort zone. I doubt that would happen because the money is sill extremely low it will cover your survival and thats it no more, and you will still need to be lucky to find a cheap place and survive on packets of noodles so i dont get it why people think that way, UBI if not now in the future will happen because there will be little to no jobs available for the masses.
How could this be any worse than companies demotivating their work forces with shitty corporate work culture. The difference between this, and corporate fuedalism is people actually have some leverage with ubi
The cost to everyone actually working, that's how.
JG the ones who also get the money? 🤔 tit
Capitalism is an obsolete and unjust system. UBI is a way for capitalist to not only retain their concentrations of wealth and power in the future when capitalism becomes mostly obsolete. But a way to even obtain higher concentrations of wealth and power in the future when human labor is no longer needed. They will control everything. And they will decide what basic allowance we are allowed while they control the wealth and resources. Jeff Bezos and other billionaires and corporations are already starting to push UBI.
@@mr.anderson1454 Except that it's the only system that actually works to make everyone wealthier. There isn't a single healthy country on Earth that doesn't have capitalism as a component of it's economic system.
@@benevolentautore4463 you can say that about socialism as well. I would argue the more socialism a country has the more happy and health the country is.
Elon Musk said this was bound to happen years from now. I can't remember the clip but he was talking at an event about it.
He is wrong.
@@juneauxmader9893 Why? Cuz he's a billionaires? Don't you think he might have a personal stake in UBI?
@@juneauxmader9893 So just cuz he's accomplished means he's not gonna further his self interest?
@@juneauxmader9893 Self employment
@@juneauxmader9893 Not as worthless as UBI
the basis of our existence isn't to work... it's creation
But you don't have a right to have all your expenses paid by someone else. You need to be able to eat too. For that you must earn money; it is immoral to steal it.
Work is creation.
@@Dennis-nc3vw and creation is work
Of course one of YOU would think that.
@@cooladam2167 ohhhhkayyy gimme your stimulus then
Like many others in the comments im also wondering about pricing after an implemented UBI. If all (adults?) are given a fixed figure of money every month wouldn't the market soon are later adjust to this reality with increasing overall prices?
Great channel btw!
I think prices would increase slightly, but not much. Most businesses will have to pay employees more money, BUT many companies will also have less employees. I work at a casino in Vegas and MGM casinos recently replaced around 4 THOUSAND jobs with automation. The grocery store near me has taken out ALL manned check out counters, they're all self checkout now. Soon all call center jobs will be replaced, some medical professions, driving jobs, fast food, etc. So these places will be paying employees more, but much less employees.
Oh and I forgot about retail stores, they're all being shut down due to online shopping like Amazon, while paying 0 in taxes
In short, no they would not. Inflation only happens when more spending is created without anything to back it up. For example, the fed printing more money. But UBI is simply redistributing wealth, and the value is preserved.
There is no extra money being "printed" which is one of the ways to cause inflation. Also, companies can already operate at the current levels, so they don't need to charge more money to get by. Some will charge higher prices due to rising demand, but that will just be extra cash. There will be other companies that will try to undercut their competition and not raise prices. They can already operate at current prices, so they will keep them approx. at the current level. The companies that raised their prices will most likely then reduce their prices back due to lost sales to the cheaper competitor. This is capitalism.
@@FakeAssHandsomeMcGee_ I don't think you guys understand how capitalism works. It doesn't care about feelings or morals or ethics. It only cares about profits and when your customers have $12,000 a year extra to spend you can bet your ass capitalism will milk them dry.
The government gets great salaries and healthcare for doing nothing.
This is the 4th Industrial revolution. We cannot compare to our past industrialization. The railroad, industrial machines, and computers could not think and learn. They needed humans to think and operate them. With AI the machines will learn and become much more efficient. No human will be able to compete because it will have the collective knowledge of all doctors, lawyers, engineers, etc.
The fourth industrial revolution is going to fail thanks to Trump's tariffs.
National Association of Sociopathic Black Men Nope. You're just an idiot eager to eat some pikes.
and can operate 24/7 the self driving trucks can drive 24 hours a day, no sickpay, no vacations required..
#Yang2020
This is what I'd propose for the United States:
$12,000 for everyone, although for those born after UBI is implemented, there is a mandatory Roth IRA contribution of 10% ($1,200) from birth to age 18. UBI would not count as taxable income. The cost would just be under $4 Trillion a year.
Individual income above the standard deduction would be taxed at 12% higher than the current marginal rates - i.e., 10% becomes 22%, 12% becomes 24%, etc. A single person with a $35,000/year job would pay $2,694 more in Federal income tax (using the 2021 brackets) but still come out more than $9,300 ahead. The break even point for a single person with no dependents is $112,550/year (the standard deduction plus $100,000). This pays for $1.331 Trillion of UBI.
The US does away with the dependent tax credit ($37 Billion), EITC ($63 Billion), and other forms of welfare ($569 Billion). That gets us up to an even $2 Trillion.
We raise the corporate marginal tax rate by 14% to riase another $568 Billion.
We then cut Medicaid ($448 Billion), and reduce Social Security Benefits by the amount of UBI ($816 Billion). The goal is to keep everyone on Social Security from having their total benefits being decreased.
I'd tax all capital gains as ordinary income ($45 Billion).
Ideally I'd squeeze the last $133 Billion out of defense, but some other benefit programs run by Social Security for disability or survivors may be on the chopping block here as well.
I propose a lifetime refundable income tax credit of $8000/person/year. Before their children's 18th birthday, parents would receive the UBIs to which their children would be entitled.
It would be very easy to estimate the total cost of the UBI = 335M persons x $8000/person = US$2.7 trillion. The $8000 amount would be indexed to inflation.
Social Security and unemployment benefits would be fully taxable.
UBI + Medicare + Medicaid + section 8 housing vouchers => End of poverty-line poverty in the USA for all but 1-2 member households.
All income tax deductions, including the standard deduction, and tax credits would be abolished. Exception: capital expenditures by business, which would be fully expensed in the year incurred. Unused capital expenditures would carryforward indefinitely, and accrue interest at the T bill rate. FICA tax collections would be credited against employer tax liabilities.
Employers would credit FICA tax collections against their flat tax liabilities.
Break-even income for a single person, assuming a tax rate of 33.33% = $24K/year. For a family of 4, break-even income = 4x$8000/0.3333 = $96000.
The only persons required to file tax returns are the self-employed.
I think you have a good reasonable plan with a few tweaks probably would be a very good thing. For me a person who makes less than 20,000 a year universal basic income would be a godsend. I’m over 40 years old so getting an extra thousand dollars a month and making sure that my rent doesn’t go up $1000 a month is the issues that would have to be worked out because I don’t want that money eaten up by excessive costs such as gas going up to nine dollars a gallon or $10 a gallon. I would not want my pay to decrease because of higher corporate taxes and since I work for a small company, I wouldn’t want to lose my job or have the man close his business down so I would lose my job if provisions aren’t made for that kind of thing. I do think we need universal basic income of somewhere between 12 and $15,000. I also think that we need to eliminate some of the social programs that are there we need to eliminate some of the programs that keep people in bondage that cost them hundreds and hundreds of dollars and potentially in the long run most of the rest of their life. We would also need to update this, so that people in prison can actually have access to this as well, so that they are getting out of prison with nothing. People that are spending 10 2030 years in prison if they’re getting universal basic income and you were to divide it up in a certain way they could put 20% in the savings for the amount of time that they’re in prison from the start till the end use 30% for their living expenses so that the government doesn’t have to pay for the prison system anymore so that would eliminate a lot of the problems with tax dollars and prisons and everything like that and then you take part of it. You give it to their children if they have any if not, then you put it into an investment account that pays them dividends for the amount of time they’re there. So basically if a person is sitting in prison right now, use 20% to, make sure that they are fed and housed every year you take another 20% you invest that into a dividends bearing program that allows them to get paid so they have a stream of income beyond universal basic income and everything like that and it just gets bigger and bigger so after 10 years, they have a massive investment fund so that they don’t get out of jail and have nothing. Then you take 20% and you would use it to support either a savings or some other type of thing that would allow them to do the other things necessary now I’m not sure about the last 40% but I do know that if they had children than 20% of the income we go to support their kids but it’s all with the understanding that they are taught how to utilize and manage this money which means that everybody would have to go through education program on how to utilize universal basic income but you are correct. You’ve got that basics down Pat and I think you are correct we do need universal basic income. Thank you for your comment.
All answered by Yang
Capitalism is an obsolete and unjust system. UBI is a way for capitalist to not only retain their concentrations of wealth and power in the future when capitalism becomes mostly obsolete. But a way to even obtain higher concentrations of wealth and power in the future when human labor is no longer needed. They will control everything. And they will decide what basic allowance we are allowed while they control the wealth and resources. Jeff Bezos and other billionaires and corporations are already starting to push UBI.
@@mr.anderson1454 They already control wealth and resources, if you didn't know. The UBI isn't controlled by the wealthy. It's controlled by the government. You need to get money out of politics out of the government.
Why would the rich want to hand over part of the resources to the poor if they aren't working to earn those resources? Pragmatically, it makes no sense for a rich person to want to hand over 10% of their wealth to the poor so they could buy more shit, when they would just be better off without the poor buying anything, and them keeping their 10%.
I dont think you thought it through, but nice try in trying to smear UBI.
@@joemann7971 you haven't thought it through. please think further.
if the capitalist oligarchs dont support ubi than capitalism will fall apart. most people will be starving eventually. people will be showing up at jeff Bezos mansion in Malibu with pitchforks.
ubi is a form of life and home insurance for ultra-rich capitalist.
@@mr.anderson1454 screengrabbed and sharing...although, as a disabled vet...a guaranteed 1600 is paying most of my rent, right now. I think the homeless could definitely use 1000 a month, but when i lived in a homeless shelter with vets, many had disability coming in, but they just spent it all on....life. they couldnt save. If they were at 100% dis, they were too crazy to use it wisely. It flows to the rich
@@danielvalleduarte
you are exactly right. that's why yang calls it trickle up economics. at the end of the month most will be broke while jeff bezos makes 250million per day.
yangs ubi is a shity right wing capitalist system.
I would call it neo feudalism. a very small minority own everything robots and all. while most receive a poverty dividend.
we need to end capitalism. its the only way.
Alaskans have been having UBI for almost 40 years, it's pros definitely outweight cons otherwise they would have gotten rid of it decades ago. Yes automation traditionally creates new jobs but with artificial intelligence it's likely that the speed of innovation is accelerating to a point where labor market is simply unable to cope with the job loss (low skilled especially) fast enough. Above all, the simple fact that UBI eradicates poverty, reduces crime rates and reduces hospital visits in society makes it a very viable policy option.
that can be said about every welfare program the government has ever created. It doesnt matter if the cons outweigh the pros, whatever gives government more power, will not be repealed. Getting people to be dependant on government welfare is not a sustainable.
@@lubb213 Bingo
@@lubb213 That’s a conservative take and a half.
@@lubb213 and the alternative is many of those people dying horrible deaths.. that's what you're arguing for btw, people dying because of society becoming pure evil
Pani Justyno, swietna robota! :) bardzo informatywny film.
How do you stop inflation? When everyone knows that everyone else has an extra money
Does UBI increases inflation?
**Competition: **If company A raises its prices, consumers will switch to a different lower cost brand. Also, competitors jump into the business when there’s more demand for goods or services, which increases competition & drives down prices. Ford built first mass produced car. Today, there are 60 major automakers in the world.
**Relevance: **Look at it another way. The problem #UBI is trying to solve is the problem of low wages. So what ever solution you choose to use to raise wages (UBI or not), you’ll still have the same question as to whether raising wages will increase inflation, right?
**Dynamic Macro Market Forces: **Rent in big cities will drop drastically with UBI because 27% of Americans wish to live in small towns (Gallup2018) but won’t because there are few if any jobs there. But UBI of $10million/mo or $120mil/yr to town of 10k adults, for example, will revitalize local commerce ( e.g., increase demand for a local coffee shop on Main Street to begin reversing the spread of economic blight).
When that happens, the 27% will move to small towns (where they can reap the rewards of buying a house at less than one year’s city rent & lower cost of living) using UBI to cover moving expenses.
Any mass exodus from big cities of this magnitude would most certainly drive down the price of big city rent, and those that elect to stay in the city will benefit from this as well.
Apparently, Spain is set to introduce UBI sometime soon, but not just for the duration of the Covid-19 Pandemic. For someone who's worked as a self employed Piano Teacher/Professional Musician, UBI would be great for me, personally.
Depending on the amount, it'd cover my rent and utilities and a few other montly bills, as a given, which don't amount to much, but if I wanted "luxuries," to keep a car on the road etc, or holidays, then I'd need to make sure I worked for them, but it would be nice to have a safety net.
For me, it would not be an excuse to sit around and do nothing.
Indeed, it might increase the level of creativity among people.
Never been so hopeful for someone before. I’m 30 year old federal electrician. I’m obsessed with his policy I now advocate for him constantly and can’t wait to vote
This is eventually bound to happen in developed nations as more and more jobs gets replaced by robots.
Who's going to make all those robots?
@@MMGJ10 Robots.... And the few with high programming skills.
@@gurumage9555 if there's a huge demand for robotic engineers people will fill that demand. This incredible nonsense that people believe about robots replacing everyone's jobs is ridiculous.
It's like comparing that to large excavating machines replacing 100 men with shovels. Those 100 men will find new work that's probably better and society advances.. With your logic it's better to stay in the dark ages
@@MMGJ10 Not everyone would be good at/ selected/ to have job in robot engineering. Just like how everyone can't be a pilot.
There'll be a lot of demand for less available job opportunities, means more people would get turned down.
And you're right robots would never completely replace humans... And that is not what I'm arguing.
My argument is that Robots and automation would eventually start taking a huge chunk of potential job opportunities.
Meaning more competition for less job spots. And more human laborers displaced by robots.
Your comment seems to have disappeared. I disagree. Jobs may be lost but people will continually find new ways to serve one another and our needs and wants, so jobs really aren't lost they just change and people adapt to new opportunities.
Actually the reason more companies are becoming more technical is because they know it’ll be cheaper in the long run and displace more jobs than creates that why you only have 1 person manning 8 self checkouts
Let's give it a try for 1 year in the U.S then record data and see if it works you cant disprove or prove a theory until you tried it.
You might have missed it, but there have been 1 year trials before but the data isnt accurate because people will behave differently when the UBI is only for a year, vs indefinitely
@@whatNtarnation90 have there been any cases where they told people they were getting it forever but only gave it to them for a year? That might solve the bias
@@juliasutter6996 No. I thought that'd be a good experiment too, but at the same time it could really fuck them.. What if they buy a car or house they can't afford without the UBI lol
No need. It’s been instituted in Alaska as the Permanent Fund since 1976. It varies based on oil revenues. It topped out at a bit more than $2,000 per person in 2015, in 2020 it was roughly $1,000. Not much but then an industrious person doesn’t need much in Alaska.
They should just ask people what they would do. I think most people would be honest and accurate with what they decide. Assuming the UBI payment was the same as my current salary, I'd likely continue to work, but only 2 or 3 days per week, rather than 5. I think most people would get bored if they retire as soon as UBI starts. For most people between the ages of 18 and 45, they wouldn't be able to live a particularly fancy life on $25,000 a year. I'd assume most people would work at least a day or 2 per week to top up their income and to keep them busy. Maybe have a rule, to qualify for the UBI payment you need to work at least 12 hours per week.
As a Canadian, I'm concerned that if we consolidate existing social assistance into a UBI program, it would then become logistically easy for a future conservative government to reduce or repeal that assistance, resulting in less social assistance than ever. That is a concern I haven't heard addressed in public discourse.
It should made be like social security that is very hard to repel by conservative government....
Doesn't seem any more likely than them reducing existing social assistance to me.
I don't think they would dare if it worked.. like they don't touch the single payer system.. it's political suicide for them
Instead we will keep an inefficient ineffective patchwork of programs.
Certainly a concern, but it would be very difficult to take it away once people felt the benefits. Citizens would become accustomed to it and rely on it. It would be nearly impossible to dismantle.
a UBI would be appreciated here, allowing me to spend more time improving my farm, instead of working a day job to survive. Fertalizer and equipment cost a fortune, so it'll be years before the farm generates a decent income.
Milton Friedman loved UBI, and he was right wing as hell.
That's wrong. He saw it as a preferable alternative to current welfare, but ultimately it was still bad.
But the amount was very low so you had to look for a job to actually have a life not just survive.
Friedman preferred NIT (negative-income tax) which is a slightly different system from UBI. It's not universal. And, as pointed out, it was mainly a compromise to the existing maze of welfare programs we have with all their perverse incentives.
I wish school's instead of making you sing the national anthem they would make you shout "There are no free lunches".
Mant public schools do offer free lunch for lower income children.. but besides that, here's to hoping your job gets automated away soon. I hope you dont apply for welfare programs and also dont opt into the freedom dividend! Because you dont want a "free lunch".
Fayjai Mike somebody is paying for those lunches. UBI will only drive prices higher
Remember the old Fram oil filter slogan ? You can pay your mechanic now (regular oil/filter change) or later (engine replacement) !
@@uskrusader How it will drive price higher? People who are now working will receive UBI because their jobs will no longer exist. Employers will save tons of money due to automation. Employees are very expensive. Plus, it would probably greatly reduce small crime, since there wouldn't be people with zero income just looking to mug you or scam you.
Just imagine how many people will be able to go to the dentist !
UBI is the second coming of the minimum wage and will fall to the same stagnation and decay. The minimum wage was meant to be a livable wage that would support an individual and family but now can't even cover the cost of basic housing. We do need to start planning for something however as large sectors of employment are on the cusp of being automated out of existence and dignified low skill work being made obsolete.
We have minimum wage, a regulation, it failed, now we are replacing with UBI, another regulation. What about if we stop this regulations altogether.
@@AnimMouse laws and regulations are essentially the rules that the government writes, supposedly to fix a problem or for the common good, usually in response to incidents or public sentiment. The lack of government regulation doesn't mean there are no rules but instead that the rules are decided by whoever fills the power vacuum, usually a corporation that is even less accountable than our corrupt government representatives.
If you look at our history you'll know that deregulation is not the answer. Without regulations poison and rot would be mixed into the food most buy, the rivers would be flamable and bought water potentially hazardous as well. Without regulations every project would still have a body count, jobs would still commonly maim and kill, and employers can treat their workers as slaves with shackles and beatings. Without regulation pay would likely be in script and a pay freeze would still mean that they chose not to pay workers for the period. Scammers and cheats would abound with newly built houses collapsing like matchstick and quacks prescribing leeches or exorcism.
On the subject of wages alone the economic policy institute estimated that annual wage theft was likely greater than all other criminal theft combined. For large restaurants wage theft is standard industry practice with over 80% paying below the minimum wage, or having them work either off the clock or at nontipped tasks excessively.
@@danielnutter2655 "supposedly to fix a problem or for the common good" Minimum wage are "supposedly" to fix a problem. Yea, what now?
"the rules are decided by whoever fills the power vacuum" Corporations has no power, they cannot force their customers to buy a specific item. Govt. regulations is the one that creates monopoly.
"corporation that is even less accountable than our corrupt government representatives" If a corp. made something wrong, they lose profit. If a govt. official made something wrong, how long it takes for them to get removed from office?
"If you look at our history you'll know that deregulation is not the answer." Are you sure about that?
Killing your customers is not profitable. Destroying our environment is also not profitable.
"employers can treat their workers as slaves with shackles and beatings" Slavery is caused by the govt. regulation, there is no slavery back in time when govt. did not right laws allowing slavery.
"Without regulation pay would likely be in script" Then workers leave finding other employers that has more pay.
"Scammers and cheats would abound with newly built houses collapsing like matchstick" Compare the no. of collapsed public vs private housing.
"quacks prescribing leeches" The customers should have a right to choose their doctors.
Wage theft? Employment is a mutual agreement, there is no employment if the other side is losing.
@@AnimMouse The regulation is not the problem as can be seen by more effective systems in Europe working better as they are directly tied to inflation. The US minimum wage was designed to stagnate and decay by the way it is set up because congress has always been more beholden to the rich than the people. If we had an effective government for the people, we would review regulations to see if they are being effective in their design and reform, modernize, or rewrite as appropriate, but we do not.
You say that at the same time that we have massive corporate consolidation and our current cooperative oligopolies (cartels in all but name) are not much different than monopolies and aren't monopolies only due to anti trust laws. While the government can create monopolies they are also created by the actions of those seeking to maximize gains from the market as well such as old trusts like standard oil.
{"If you look at our history you'll know that deregulation is not the answer." Are you sure about that?} looks at historical conditions prior to the labor movement and consumer protections: YEP! I'd rather not be chained to my workstation for the entire day, risk maiming, be beaten for any reason, and then not get paid because my employer wanted to save money.
"Killing your customers is not profitable. Destroying our environment is also not profitable." Cigarrettes/oil and gas industry. While it is not profitable and even damaging for society as a whole for those who get away with offsetting costs onto others it is VERY profitable.
Slavery has existed throughout the entirety of human history because of the greed of man, furthermore the conditions I mentioned were for supposedly 'free' workers during the industrial revolution.
"Then workers leave finding other employers that has more pay." Again do you know absolutely nothing of history. It is called blacklisting, peonage, and debt slavery. If you pissed off your employer for any reason nobody in town would hire you to do anything if the companies guards didn't cripple or kill you. There is a reason that the US did not have any restrictions on immigrants until AFTER the labor movement. Prior to that the wealthy wanted as many people in as possible to keep the workers desperate for employment/survival and replace all of those they regularly killed or maimed while doing business. Now they use immigrant labor and keep them in line by threats of torture under ICE detention, or regular workers renamed 'contract gig workers'.
Public housing utterly reeks with corruption, when we can create a tiny home that lasts for 10 years for $5000 why are we spending $200,000 a unit for giant complexes. It is marketed as helping the poor but is in actuality a giant giveaway to the wealthy since with the same investment we could feed, clothe, and house them in a tiny home village.
While consumers have the right to pick their providers they should also have the right to know that the professional is qualified.
Before you even mention public boycotts only those businesses that directly interact with the public and stay in the public eye need to fear them. The rest can easily escape these by rebranding or making grand public promises and plans that they abandon as soon as the heat dies down.
You seem to imply that all mutual agreements are mutually beneficial regardless of the power dynamics in play. You could say that paying protection money is a mutual agreement between the store owner and the mob but only one really benefits. Ensure peoples survival and I bet many wait staff will no longer be willing to work at restaurants for the right to beg for tips and tithe a portion of the donations to the owner.
@@danielnutter2655 Most rich countries in Europe do not even have minimum wage, like Sweden, Denmark, Iceland, Norway, and Switzerland.
"standard oil" Saying Standard Oil a monopoly is like saying Google, Facebook, CZcams a monopoly. They are not. Having higher market share does not mean monopoly.
"looks at historical conditions prior to the labor movement and consumer protections" You mean prior to capitalism?
"I'd rather not be chained to my workstation for the entire day, risk maiming, be beaten for any reason, and then not get paid because my employer wanted to save money" No wonder why businesses today are richer than the richest business at that time.
"Cigarrettes" Also alcohol, Coca-cola, McDonalds, right? Blame the consumer, not the producers. No wonder why prohibition era fails.
"oil and gas industry" The benefits of oil and gas is greater than the damage it has done. You want Stone Age where there is no pollution?
"offsetting costs onto others" To whom?
"Slavery has existed throughout the entirety of human history because of the greed of man" Greed, the reason why they are poorer compared to us today. Slave owners don't know that their productivity will increase when they set those people free.
"blacklisting, peonage, and debt slavery" That is why there are not rich compared to us.
"pissed off your employer for any reason nobody in town would hire you to do anything" What is the reason why you pissed off your employer in the first place?
"Prior to that the wealthy wanted as many people in as possible to keep the workers desperate for employment/survival and replace all of those they regularly killed or maimed while doing business." They are not wealthy. Never wealthy.
"Now they use immigrant labor and keep them in line by threats of torture under ICE detention" But today they have right to leave their work.
"Public housing utterly reeks with corruption" Thanks government
"should also have the right to know that the professional is qualified" How do you make sure that the professionals is qualified? Let a private sector do the work, or the public sector? No wonder why IIHS is stricter than NHTSA.
"The rest can easily escape these by rebranding or making grand public promises and plans that they abandon as soon as the heat dies down." What's wrong with that? If they rebrand and still do dirty, another boycott.
"paying protection money is a mutual agreement between the store owner and the mob but only one really benefits" That involves coercion, not a mutual agreement.
"Ensure peoples survival and I bet many wait staff will no longer be willing to work at restaurants" Then no work.
We need UBI to release technologies firms to deploy their automation for a better world
This would be a very good thing for the average person, but the sad reality is: Governments and politicians dont give two fucks about the poor/average person.
Yea, that is why reducing government interference is a good idea, not increasing it.
They will have to give a fuck someday when other countries who implement it have success lowering their overall expenses on crimes, prison, welfare programs, pollution, etc. and boosting their economy as a result.
Too many people would treat such a system not as a safety net, but a hammock. As evidenced by various trials of UBI, people adjusted their lifestyles to the basic income, and remaining at that level. Very few used it to invest in education or innovation. The results are more similar to the Mouse Utopia experiments than Star Trek.
Instead of a universal welfare check, which tends to de-incentivize productivity, perhaps the UBI could be structured as a credit, reducing a individual’s monthly tax burden. If your monthly tax is less than the UBI, then you would pay no tax and the UBI would provide a check for the difference, resulting in a guaranteed minimum income. If your monthly income tax is greater than the UBI, that amount would be deducted from your taxes. This would increase the purchasing power of the employed while maintaining incentive to remain productive.
I believe there needs to be a newly structured zero-risk online survey job opportunity in which everybody is entitled to... as for earning a basic amount of income... maybe similar to UBI. The world united in such a way could boost progression a whole lot more.
If I was given a UBI, I would use it to hire some artists to help me produce a graphic novel then sell it and make a living like that.
Sick!
If I was given it, I’d want my $3,000 in extra taxes I paid to get the $1,000, back.
@@nathanhedglin931 Congratulations on being financially stable? Not sure what you want from this? You'd be helping two other people survive, sorry if that's not enough
@@lorefrancis3319 I’m just saying there is a cost. Nothing is free.
@@lorefrancis3319 guess I’m more of a teach a man to fish over give a man a fish guy. We should focus on the former before the later. I’m not against UBI.
In Germany over 50% are in favor of it, but nobody is running on it.
Capitalism is an obsolete and unjust system. UBI is a way for capitalist to not only retain their concentrations of wealth and power in the future when capitalism becomes mostly obsolete. But a way to even obtain higher concentrations of wealth and power in the future when human labor is no longer needed. They will control everything. And they will decide what basic allowance we are allowed while they control the wealth and resources. Jeff Bezos and other billionaires and corporations are already starting to push UBI.
@@mr.anderson1454 Wrong. Capitalism is the natural way people fulfil their wants and desires. The only reason that we even have billionaires today is due to government regulations allowing corporations to monopolise markets and make loads of money for their shareholders. There are no monopolies in free markets. There are no billionaires in true capitalism.
Who says the labour markets are over-regulated? Also, government intervention in the market is an abosulte necessity, not a burden, though it does need to be done right. People forget that government regulation (enforcement of contracts etc.) is what creates the market in the first place. There is no disconnected phenomenon called 'the market' without government, without regulation.
My only problem with UBI is how it will be paid for? Yes, I've read all the different ways it can be done but ask yourself this, when has the government ever proposed anything that came in at or under budget? There are always massive cost overruns. I just don't trust the incompetents that go into politics and civil service to do it right.
Cons
1. Cost - Its actually cost neutral as it replaces the existing benefit payment Budget.
2. Negative impact on Labour market - Actually it has a positive effect as there are no more benefit traps that stop people working i.e people cant take any work they want and it wont effect their benefit
3. Productivity decrease - Productivity would actually be unchanged or possibly go up as workers would be in a much safer financial position.
4. Wage pressure - The pressure would be downward as people were more able to work for less due to the UBI income.
5. Tax progression - UBI would be non taxable and therefore uneffect existing tax system.
6. No reason to implement UBI - If jobs lost to technology creates new jobs in new areas the UBI allows people time to retrain for those jobs.
7. Increases Migration - Normal boarder restrictions would solve this but UBI would not be payable to 'Johnny come lately' looking for a free ride.
8. Another regulation rather than deep reform - You cant get much more of a deep reform than UBI!! there would need to be some reforms for special cases, hardly a major issue.
9. New taxes or tax increases - No, payments would be a % of gov funds so always remain cost neutral.
10. Difficult to withdraw from - Why would you want to withdraw from the best benefits system ever invented?!!!
I'd worry they'd be nobody joining the army unless wages were significantly increased. If there are not enough people in the armed forces then countries may have to do mandatory military service, and therefore anyone could be called upon if a war breaks out.
@@footyball66 Sounds like you dont want to fight for your country, which is pretty cowardly.
The human species evolved from living in the wild to organizing complex megalopolis by recognizing and rewarding talent. It was the only thing that encouraged people to do their absolute best. If you stop rewarding merit, and thus talent, all the progress will be lost.
As our technology improves AI would become more advanced.
AI and robots would be able to do more tasks faster , more efficient and far cheaper.
This would inevitable end up with more displaced human workers and rising unemployment in the long run as more jobs gets outsourced.
To compensate for this disruption, businesses would pay a tax ("robo - tax") based on the total economic impact their business brings due to the use of robots.
This tax would be distributed evenly among the unemployed citizens as a form of UBI.
If we must have a UBI it should be funded (at least in part) by co-corporations that displace human workers to automation. (I'm not against automation or AI, I just feel this is reasonable)
It's almost like Progressivism is mostly regressive..
True but a UBI does not "stop rewarding merit, and thus talent". You will still be able to be paid in excess of your $1000 (or whatever) if you choose to use your talents for monetary compensation.
dskmb3 it’s only “stealing”if you are selfish and greedy to begin with. Which is what caused this cluster fuck in the first place.
Does someone really need a 70 million dollar soccer contract for one year?
The whole goal should be to improve the human experience for everyone.
Can’t you already see the gross financial and resource mis management governments are responsible for. The money and resources are already there. Just controlled and manipulated to benefit a few.
Everything owned, learned will be lost. We are all dying from the moment of birth. To live just for yourself and yours is truly in the grand scheme of things pointless.
I don’t disagree there are some valid points but most seem to come from just that hate and selfishness.
There are countless methods that could be instated to mitigate leeching.
Enough to eat and have a roof is that really so much to ask.
It’s foolish to look to the past and state the struggle was beneficial, human progress etc. millions and millions of people with potential never even had a chance due to many systemic factors.
In order for our civilization to progress to the next stage we can’t live like we did.
dskmb3 wrong. This income would be unconstitutional, meaning if you don’t work you’ll get it and if you work you’ll get it too. So those that work will get more money. So basically nothing will change except the poorest people in society will still have money for housing and food. Is that so horrible?
One way to motivate workers who get UBI is to switch from an hourly-wage system to a pay-per-output one. Jobs would be set up so that the average worker gets an average wage, if a worker produces less product in the same amount of time then they get paid less, if someone makes more in the same amount of time, they get a bonus. Try-hards will be the best paid employees.
the problem with that is that it'd be in the lazy employees' interests to pressure the tryhards into performing less than their possible capacity, which decreases the average, making the lazy people get paid more for their same amount of work.
@@damiandavis4831 This is why we can't have nice things. Though I don't think that would happen as the minimum quota wouldn't change, and even if no one in the business was working hard enough to earn the bonus, the management wouldn't have to lower the requirements to earn the bonus. If you make 10 of something in one day you get paid a normal paycheck, if you make 12 of something in the same day, you made 20% more and will get paid 20% more. Even if they force the guy making 14 a day to only make 10 a day, their paychecks aren't going to go up.
So this policy only applies to citizens only or for all immigrants , students , citizens etc?
It’s called a right of citizenship for a reason
There was an experiment done with similar principles of UBI called Mouse Utopia. Interesting results.
Mice are not people. Mice do not have the kinds of traits that separate people from animals. Read Human Action by Mises.
@@acex222 that's not the point though, it brings up the case that having a purpose in life is what drives humans and even mice to live. like mice eat, sleep, survive, and reproduce. humans also eat, sleep and reproduce, despite our differences in behavior. having everything given to you with no need of effort eliminates the purpose of living. in which seen in the mice utopia experiment experiencing psychological stress. for humans bordem and feeling empty with a question on why we exist would cloud a lot of people's mind. like what's the point of me being a restaurant owner if people get food daily? etc.
I may be no economics expert, but I look at both the short and long terms, especially when the real test of ubi comes in when times go horribly wrong.
@@isaacvitela5131 I think the loss of purpose due to lack of jobs is inevitable (see CGP Grey vid called "humans need not apply), but the UBI gives a safety net for people to figure out what *does* give them purpose. We will need to change as a culture from purpose through work to purpose through something else, like art or helping those in need.
@@juliasutter6996 while it is true that robots and a.i are removing jobs for people. UBI appears to act like welfare, except everybody regardless of what class you are gets 1000 dollars per month. Now having 1000 per month does sound nice on paper, but most people tend to ignore the obstacles that reality has placed along the way. Like the idea of the companies are going to comply with the added value tax,?a you can't stop them leaving the U.S unless you have to use negative force to make them stay. What about when the economy is hitting hard times? Will this only add even more debt to the national debt? Will people likely abuse the 1000 dollar system? What about those that are in debt with the government? as much as i don't to use the loaded question, but there are pretty realistic. Like i am currently paying my student loans back, but with the 1000 per month, i'm sure the government is going to take that money away as payment for the loan. Plus the big question is on how we are going to fund this that can do well in the short AND long term.
I think the main difference is that in Mouse Utopia they were given an abundance of resources and space. If UBI is made as minimal as possible while still being effective people would for sure still be inclined to keep working. There's more to life than paying rent and eating.
Andrew Yang has my vote all day
This aged well.
Yes, giving people money for doing nothing
This helps loads with my debate, thanks!
Great summary of pros and cons! My biggest concern would be how it would affect market prices. I would assume flooding the market with cash would lead to inflation, and thus the UBI would eat itself up. Any takes on that?
Does UBI increases inflation?
Competition: If company A raises its prices, consumers will switch to a different lower cost brand. Also, competitors jump into the business when there’s more demand for goods or services, which increases competition & drives down prices. Ford built first mass produced car. Today, there are 60 major automakers in the world.
Relevance: Look at it another way. The problem #UBI is trying to solve is the problem of low wages. So what ever solution you choose to use to raise wages (UBI or not), you’ll still have the same question as to whether raising wages will increase inflation, right?
Dynamic Macro Market Forces: Rent in big cities will drop drastically with UBI because 27% of Americans wish to live in small towns (Gallup2018) but won’t because there are few if any jobs there. But UBI of $10million/mo or $120mil/yr to town of 10k adults, for example, will revitalize local commerce ( e.g., increase demand for a local coffee shop on Main Street to begin reversing the spread of economic blight).
When that happens, the 27% will move to small towns (where they can reap the rewards of buying a house at less than one year’s city rent & lower cost of living) using UBI to cover moving expenses.
Any mass exodus from big cities of this magnitude would most certainly drive down the price of big city rent, and those that elect to stay in the city will benefit from this as well.
Economic 101 say prices are driven by offer/demand, not because of free money.
@@allanjeong this is very interesting. I never thought of that asoect before. Perhaps another thing it might do is drive the cost of homes in big cities down. This may be bad for people who currently have seen their home values go up, but it may make homes affordable for those who at this point cannot afford them. Interesting!
Don't forget that a price increase can also start a chain reaction. Just look at how Apple gets away with raising their prices and still maintaining the demand.
There really is no cons in the idea of universal basic income itself. It's how it's implemented that could add pros and cons.
For instance it can be implemented without creating debt. You would need to end all other cash assistance programs and end income tax. Then implement a federal sales tax on non essential items and a premium tax on premium luxury items. Then you base the ubi on a percentage of the total tax revenue every quarter divided evenly for every qualifying adult citizen.
I lean right on economics but I would support UBI if implemented this way. It would help the people and help capitalism thrive. It would also drastically reduce the size of the government so they can focus on more important things.
I think we would see a huge advance in technology and new ideas as well which is always a plus!👍
So the prices of basic goods will rise, for there's more money there and the prices of non essential goods will drop. No inflation over all, but the poor will spend UBI on increased prices of the essentials..
It will help the ones on retirement barely making 1000 or less and disability. I would still work and use that for my 60,000 student loans and save for retirement. It can do alot for others
I may not agree with everything in the video but I thought it was well put together and fairly logical. Good Job
This is really good! I finally understands it better =v=
Will this adversely affect the sick and disabled and what about all those who are in receipt of state benefit. I think it’s a fantastic idea as long as people are protected from any losses in benefits?
This is a well understood concern (although surely not by everyone!), and UBI is not actually intended as a replacement for all social programs, particularly not Medicaid or Medicare in the U.S. for example.
I actually would argue that UBI would infact increase worker productivity as employees would be less stressed about money, thus happier and more productive at work (and less likely to do things like steal from the company). People would still work because it is human nature to for people to want more in life, especially if everyone around you has more. $1,000 is not enough money to be lazy and live a life of leisure.
Hahahahahaha! The CANCER of socialism... Unreal
People do not want to work! I run a business and that is the hardest part is finding people who want to work.
@@MrNate-jd1ncI hear that from everyone. I run a masonry business. Almost impossible to find anyone that wants to do hard work anymore. More handouts is only going to make that worse.. Entitlement..
@@MMGJ10 and think when robots and AI do all manual labor we will be forced into ubi in a sort of technological socialism.
Wrong.
Fuck you making the same as me when i work harder or easier. Where i come from that gets your ass whooped.
The first time I heard about UBI I had the typical conservative reaction, "commie, socialist slackers yada, yada". But the more I study it I'm thinking it might be a good way to address many horrific social and economic woes that we have today. The world has changed so much that many of the old ways don't work so well anymore. It leaves "free market capitalism" in place which is good. It doesn't involve govt owning industries and all that communist crap. I say we give it a try!
Redistribution is still socialism, not "free market capitalism".
No
if you leave free market alone, the prices for basic goods will rise, just think about the rent, that's all about how much you can or cannot pay, it will go up if all of a sudden everybody has $1000/month more in their pockets. So UBI will barely cover the increase of prices. Sure the price of what well of people buy might drop, for they will have less money due to tax increase to support UBI, so technically , no inflation, just increase in the products poor people buy.
@@Daniela-pr7rz what
@@wkhristafer huh
I can't say whether I'm for it or against it, but I am curious to see what would happen if the government decides to implement the UBI.
Cities that are destitute like mine would start rebuilding finally
COMMUNISTIC
solid af
Studies show that any impact on the workforce is minimal. The people who primarily work less when given a UBI tend to be new parents and students. Considering the influx of workers who currently are on disability or welfare, it would seem just as likely that workforce participation would actually increase.
How does it work in Alaska?
Extracted hydrocarbons.
@@FletcherFinance , so they take a percentage of the state's gross domestic product, and give it to the residents. If only the American GDP was trillions of dollars annually, it might be possible. I know it's just crazy talk, right?!
@@stevencanzonetta1971 It is crazy talk, unless we start neutralizing certain populations so that the ratio equates to a sizable income every year. Let The Purge begin! ;)
@@stevencanzonetta1971 Remember, Alaska relies on a hard mineral for its negative tax revenue. Extracted hydrocarbons. Not all states and certainly the Federal government does not rely on hard assets. Some states and the Federal government rely on paper profits and taxes those paper profits. Those can vanish in a split second.
Alaska's dividend is often described as 'oil' money because it comes from the state's natural resource collection. Note: Their implementation has some yearly variability because it's tied to the resource that it is.
Most proposals for UBI in broader terms target things like creation or adjustment to a Value Added Tax (VAT) or other program that would target 'electronic' resources, things like data collection rather than raw materials. Some ideas include using UBI funding to push green moves for companies by adjusting things like the carbon tax.
The biggest hurdle to UBI is funding and efficacy. There are several models that have been proposed over many years.
One plan gaining spotlight for the US right now is Andrew Yang's 'Freedom Dividend'. I'd suggest looking into it or checking out a UBI social community to explore various options.
Money equals debt in our current monetary system. In a debt based economy, social dividends constitute a portion of public debt. The question is if the exponential growth in the perpetual public debt viable?
I wonder what would happen to prices of basic goods if it was known that everyone had $2400 more a month? Wouldn't stores and manufacturers just raise prices since they know people can afford more? Or would competition from other makers/sellers keep prices down?
There were some studies that showed that prices wouldn't really change much. They found an increase of .2% but also stated that the increase could have also been normal fluctuation and not actually due to ubi
Does UBI increases inflation? I don’t think so, because...
Competition: If company A raises its prices, consumers will switch to a different lower cost brand. Also, competitors jump into the business when there’s more demand for goods or services, which increases competition & drives down prices. Ford built first mass produced car. Today, there are 60 major automakers in the world.
Relevance: Look at it another way. The problem #UBI is trying to solve is the problem of low wages. So what ever solution you choose to use to raise wages (UBI or not), you’ll still have the same question as to whether raising wages will increase inflation, right?
Dynamic Macro Market Forces: Rent in big cities will drop drastically with UBI because 27% of Americans wish to live in small towns (Gallup2018) but won’t because there are few if any jobs there. But UBI of $10million/mo or $120mil/yr to town of 10k adults, for example, will revitalize local commerce ( e.g., increase demand for a local coffee shop on Main Street to begin reversing the spread of economic blight).
When that happens, the 27% will move to small towns (where they can reap the rewards of buying a house at less than one year’s city rent & lower cost of living) using UBI to cover moving expenses.
Any mass exodus from big cities of this magnitude would most certainly drive down the price of big city rent, and those that elect to stay in the city will benefit from this as well.
Interesting video about Universal Basic Income and very well explained. Thank you!
I notice that this video has got a lot of thumbs down...I think it's more to do with people being against the idea of the UBI rather than it being a badly made video. I don't know where I stand on the topic, but have given it a thumbs up for being informative and well put together .
Thank you!
The cost question goes along with modern monetary theory
My main question is how would this impact the current welfare benefits system? There are a lot of people that earn way more than $12,000 per year based on their situation when they take full advantage of welfare. I'd be curious to see if UBI would be proposed as a replacement to all welfare or if it's proposed as being "in addition to"
In the us it's being offered as an alternative to replace it
It would likely pay more and wipe it out
I think it's a mix of both but it would be a important goal to make sure people in these programs don't end up making less money.
UBI exposes complacency from passion. If people didn't have to work really hard to get what you want, would they really strive to work harder or just accept things as they are and go with the flow?
Of course, some would be OK given their basic needs, but boredom and passion may surpass this urge. This is where individual motivation, innovation, and finding your "what is your goal in life" kicks in.
$1000 a month isn’t enough in my area sir to get by. The cost of living in the rural area where I live is about $1600 a month so if you want to live then you have to have a job and so complacency is not required, in fact, complacency is not an option. In most places around the country you would have to work because thousand dollars is not enough to pay everything it’s enough to provide a little bit of a cushion but it’s not enough to provide for rents which in Chicago the last time I checked were a minimum of $1400 a month, so you have to have a job you have to have some other source of income and for most people like me you need a job or you’re making 40 hours a week at at least minimum wage and I’m already at that point and I can still hardly get by so complacency is not the issue the issue is something else.
As an introverted person barely getting by on minimum wage, UBI would be life-changing and certainly give me some freedom and security to pursue other things with less anxiety and more confidence.
I wonder if comments like these are from real people sometimes..
Assuming that it would negatively impact the labout market and worker productivity only makes sense if you also assume people don't want to work harder for more money.
And sure taxes might go up for employers but they would probably also make a lot more money if slavery were legal.
I don't know how you decide the right amount to make it enough for people to be insentivised to work and have the freedom to develop your skills and yet low enough not to remove motivation for people to work and therefore make it sustainable so the economy is continuously growing and keeping the UBI alive.
I come from Ontario where Doug Ford just cancelled the UBI testing in the poorer towns suddenly. The budget was there and the project just started. Don't let them lie to you about it being too expensive and unaffordable. We never even had the time to review the effects and the actual cost!
Also that Ford Nation reduced funding for health care, education, water treatment, programs for handicaps & kids with special needs. Amongst many more cuts.
All this and he STILL grows the provincial deficit! Cause of tax breaks to his wealthy friends! But there is a buck-a-beer to drown your sorrows as you get fucked!
Just my rant on one of the worst provincial leader in Ontario!
With UBI you could live where you want to small towns are hurting too many people are leaving for jobs in the city
Cities are shitholes. I moved from a city to a tiny village 3 years ago and I would never go back to any city.
lately I've been thinking about universal tenure scaling. so minimum wage employees will develop over time even when they aren't promoted. impose preferential hiring. and the highest paid tenures will always be employed. ideally ten years of development would pay an unskilled workers the same as a public sector trade worker
Check out Andrewyang2020. He has over 100 policies, and UBI is one of those policies. #humanityfirst #andrewyang2020 check out joe rogans podcast with andrew yang on youtube.
So the youngest people would work the shittiest jobs because that would be all thats left. Genius idea.
The problem is a lot of rural places and small towns are cheap to live in and a household with two adults earning $24,000 or communal groups say eight chipping in could live modestly on that and could opt not to work. And pressure could force a realistic COLA on this money. In my cousins area one town you can buy a three bedroom home for $60k. $24k is a decent income there for many families say they work minimally 40 hours a month with one adult and they earn an extra $300 a month that extra $3600 a year. What if a third of the workforce does this? Half? And what if they decide not to work especially dirty, dangerous, demeaning or other unpleasant jobs. And what about immigration would they get it if nationalized or just native born citizens?
I could see such worst-case scenarios occurring but let's compare to the present situation. We're currently spending ~$1.15 trillion/year on somewhere between 50-60 million welfare recipients. The number of recipients along with the spending has been skyrocketing over the years. We have skyrocketing rates of illegitimate children and children raised in single-parent households who are statistically far more likely to become impoverished, homeless, join gangs, abuse substances, commit crimes independent of their socioeconomic status. We have ~1.5 million gang members in operation. We have the largest prison populace ratio in the entire known world by far and spend over $31,000/year on average per inmate. We have over half a million homeless people. We've got rioters vandalizing and looting and African-Americans riling up demanding reparations for slavery.
We have crazy progressives looking at these problems and proposing insane policies like a $15 minimum wage winning over the hearts of citizens while seeing an alarming number of Marxian socialists growing in our midst who think capitalism, not statism, are the causes behind these problems.
It's difficult for me to see UBI as possibly being worse than what we're already heading towards absent it.
Second thing cost of living will go up because businesses will know people have guaranteed income coming in so why not raise the costs of things we nedd
Azire Andrai then one business will come along and charge cheeper prices. Then all the consumers will flood to that store. This will then force all the other stores to start making their prices cheaper in order to be more competitive with the stores they are loosing consumers too. The businesses will compete the same as they do now. Just because people have more money doesn’t mean the principles of a free market change. In no way will this lead to them raising the prices of their goods.
Inflation on housing will go up regardless of UBI, what's your point?
@@j-nifty6664 youre so full of shit. Thats why prices go up when the minimum wage is raised. Or is my wallet confused? Stfu shill.
@@breakdance4cash228 he made his point dumb bitch. You and people like you are fucking worthless.
Competition/Capitalism will keep it in check.
Thats communism at its finest. When Germany sucked up the DDR, some of the biggest issues with the work force was zero motivation and no clue about a competitive job market.
We already have millions like that after decades of welfare. So for example if you're on welfare and get this UBI and you still get welfare....do you get both?
This is such a great idea but what do we do when the country goes bankrupt within a few monthes you dumbshits?
@Tasters Choice Exactly, a thousand bucks isn't a lot of money per year and that argument will be made to expand it to 2 and then 5 thousand etc. It's literally communism. Only indoctrinated fools would think it would be a good idea
I guess Friedman was a communist
@dskmb3 "Friedman didn't advocate UBI."
Only by name. He was in favor of every principle a UBI stands for. His preferred plan was an NIT (Negative Income Tax). You would be paid if your wages were under the poverty level, no matter what.
That sounds like an unconditional basic income to me. I just wish people that defend your stance were not so pedantically sophist.
The problem with an NIT is that you need a month buffer for every emergency. Not easy under the poverty line, you could lose your house if the rent is due and your check stub is not up to date. UBI is just easier to implement and maintain. Especially now with unreliable wage jobs (Uber, Lift, exc..) being more prominent for the working poor.
No you choose welfare or the ubi it is said not both.
Also free money is only given if you make below a certain amount right now.
If you give it to everyone right now. Regardless I'll still find work.
But that is me. I still want to volunteer or find meaningful work. I'm a rarity though.
Junk jobs like McDonalds are worthless I rather they just automate it completely.
Also no ubi based on babies. U dont get ubi with each child popped out.
Musk and Zuckerberg are right here imo.
Also min wage jobs should not be counted as work.
1/3 of income = rent in location
Else it is not real work.
@dskmb3 "So it's not universal."
Yes, it's universal.
Universal - 1. Of, relating to, or affecting the entire universe.
2. Including, relating to, or affecting all members of the class or group under consideration; applicable in all cases: synonym: general.
3. Done, produced, or shared by all members of the class or group under consideration.
Except for the first definition, universal, applies to all the individuals making up the group in question and nothing else.
"What don't you understand about the word universal?"
It's about what you don't understand about the word universal. Universal programs apply to everyone but can and mostly do have conditions. You are thinking of unconditional, aka without conditions.
So universal applies to groups of individuals and unconditional applies to conditions on a policy.
"I'm not being a pedantic sophist."
How about obtusely ignorant? Because "You're just 100% wrong."
maybe is feasible if you invest it or use it for retraining , (although most people would probably blow it on a new car or iPhone or technology which is probably why Silicon Valley likes the idea). My question is: how do you keep it from being used for things like drugs?
I'd rather have them enjoy there drugs then seeing them out in the street corners begging or stealing for the money, did u know ubi would drastically reduce prostitution?
so if it came into affect, does the cost of living skyrocket ?..because greed is always around the corner...are rentals higher, goods and services, education etc,..which for the poor would really mean no beneficial impact at all
I have to make another comment here because people seem to think UBI is meant to replace having a job. UBI is an unconditional cash payment. You can keep working or not bother, you will always be guaranteed your UBI. It isn't communism.
You seem to make arguments in both sides of things. Strange.
@@MMGJ10 yes, because real life is more nuanced than "this is fascism/communism"
"You will alwaysbe guaranteed your UBI." How? How do you guarantee something to be given from an entity that has to steal it from others? You can't, but you certainly create a dependency.. This is how nation's collapse. A child could see through it
@@MMGJ10 well, the main source of income in Yang's analysis will be a VAT and a carbox tax, two taxes designed to hit large businesses like Amazon and Alphabet, who dodge historical taxes with finesse, to recoup retail spending in a way that consumers will not take the flak. Military and foreign aid cuts are also high on the revenue list.
People are already "guaranteed" welfare, it's the same shit only far fairer, and with more positive outcomes than SNAP and shit. We already live in a society where the authoritarians have convinced the majority that theft is forgiveable or even justifiable. If that theft can at least be turned into relative economic improvement, then I fully support that, and that's what UBI will do.
@@acex222 this is likely why even some white supremacists 4chan racists, libertarians, Democrats, independents and Republicans etc support this.
I am swayed by it too because I criticize the welfare queens because other citizens do not get that free lunch. But if everyone does then I wont complain.
Its a fairness thing.
As I need to be a bumb just to get welfare. I have more dignity than that and as a result I scoff at ebt and such welfare programs. I hate leeches.
But if everyone gets ubi including the rich. It takes that stigma away and I can accept it.
I think we'll get a reduction in crime also if UBI is implemented....
ubi is a crime in itself, a communist takeover
@@tinman7814 I think it would depend on the way it's structured.
Also a massive reduction in mental health issues, addictions, domestic violence and such.
@@tinman7814 okay McCarthy, go back to the 50s
"Poverty is the mother of crime" - Marcus Aurelius, a sentiment also agreed upon by pretty much every social scientist ever, as well as the US Department of Justice
One thing about UBI that I see is if I can get enough money I can use it to invest and create/buy some small businesses. Right now, I'd love to do all of those things to get out of the gutter, but you need money to make money anymore in this world. If people could get some money to invest with and taught about personal finance and basic investing, I think people could learn good ways to spend their "free" money and pull themselves out of poverty. The main reason why we have poverty isn't just because people are poor. It's also because those same people when given money will go out and buy shit they don't need like depreciating sports cars or junk food from Mcdonalds.
If you own a business, would you expect your and everyone else's business to see an increase in demand for your goods & services? If so, as a business owner, you have two options -- expand your business, or raise your prices. Expanding your business makes you work harder for what turns out to be not a lot of extra $$$$. If you raise your prices to continue to achieve that equilibrium point in the supply and demand curves, you would make more $$$$ and not have to work harder. There's a fine line to draw there. With all the business regulations that the democrats like to push, why not just raise your prices?
this would only apply to corporations and not small business.
Relevant.
There is no maybe AI will take jobs they already are people. Stop thinking with an old fashioned mind set. Ubi will happen weather you like it or not. Ai improves our life freeing up time so we can follow our true dreams yes we loose job's but they pay for it. I would be proud to pay a tax that would benefit my brother's and sisters of America
@dskmb3 Im with you
@dskmb3 During the Great Depression unemployment reached 25% AI is predicted to reach 50% possibly 75%. That would wreck the economy. UBI is to help prevent that from happening. It's not so some lazy assholes can do nothing. When people are jobless, hungry and homeless, they will turn to crime, rioting etc. Would you prefer that or UBI?
#Yang2020
#GangBangYang2069
@dskmb3 Are you saying you'd rather have billionaires raking in billions, than have a redistribution of money that is already there, paid back to the people in the form of UBI? Jeff Bozo doesn't need another mega yacht! But millions are struggling financially. Why are you arguing to benefit the wealthy and not the regular people??
UBI is a smart solution to a plethora of problems, poverty, income inequality, freedom!!! We will have anarchy & civil war if we don't have UBI! Because when the full tilt of the Automation job apocalypse hits, that's about 70 MILLION people without jobs to go to. What do you think will happen then??? One truck driver just lost his job in Texas & shot up 20 people. What happens when trucks become fully automated and 3 MILLION of them lose their jobs?? You need to really start looking into this so we can prevent a Depression worse then the Great Depression - which had Unemployment of 25%. Listen to Andrew Yang on the Joe Rogan youtube podcast or listen to his book on youtube for free, "The War on Normal People", we are at war right now, and the string pullers are trying to make you scared of what is actually good for you and all of us..Universal Basic Income www.yang2020.com
@dskmb3 your lack of respect to someone willing to discuss this shows exactly the type of person you are. You're probably the type of person that could be helped by this Policy but have been so brainwashed you can't see it. Who are you voting for and why? I'm genuinely curious about what policies matter to you and how they directly benefit you and regular people.
Does the UBI include Healthcare? Would the money received need to be used to pay for Healthcare? Would th disabled be provided for in a way that gives them the best quality of life, or would they receive basic care as everyone else?
How need to be look like process of sending request for UBI for not have any burocracy. How it need to be renovate each year with inflation. And how need to run from government ideas to limit who can recieve UBI if goes conflict or corruption in internet incrase and become usual cultural way
And then suddenly, for no apparent reason whatsoever, everyone's rent increased by $1000 every month......
@@darkshadow955
Well actually it's hard to consider my channel to be a news source when I haven't uploaded anything in over a year
@@darkshadow955
Don't tell me what to do, here I'm going to like my own comment again just to spite you
...so people moved to landlords charging lower rent, because we live in a market economy which rewards aggressive, profitable businesses
False. There are six homes for every homeless. Problem is they have no money to give money to home owners and government. Lose lose for everyone
@@acex222 Is that why there's so many universities that "compete" by not lowering prices since money is given to them by the government?
Cannot believe one of the arguments against UBI was 'no need to implement UBI'
WHAT?!?
This is a pro UBI video, of course they would give weak cons for that.
the big con for UBI is that the prices for essentials will rise and UBI will be the new zero. (No inflation overall, for the prices for non essentials will drop as there is a major shift of money from rich to poor.)
I supported the idea until I realized that the more income a consumer receives on average, the more the privatized sector will raise their prices to leech off the excess cash.
I also believe that those who are already wealthy will likely use the excess cash on investments allowing them to widen the wealth gap even further. When they invest heavily on property, it will lead to an increase in rent pricing making this entire idea pointless.
The only way I can see this work is if the money given can only be used on certain basic needs or if property were owned by the government and not private owners.
Well what you said about property prices increasing in value and wealthy people buying them up is already happening and it won't stop until laws are put in place to protect people's property.
The only way I see UBI being implemented is with digital currency but that will create problems of privacy.
Great as always
$1000 IS VEEERRRRYYY LOW. CALCULATE YOUR TAXES FROM YOUR JOB EVERY MONTH.
Moor-ena El No. Let's make it a billion dollars and watch home prices and food skyrocket.
Moor-ena El MUH TAXES MUH TAXES
People could wait for the right job and walk away from places that miss treat their workers
do you mean like people collapsing at Amazon and ambulances being called? No more suicide nets?
The suicide nets were in China though?
Master/slave attitude inside corporations will disappear. This is just one of the many benefits....
The background music is the same track as truth wanted. Just caught my ear.
Social workers become less necessary as people’s basic needs are met. Additionally, I we have never had this level or pace of automation before, so it’s impossible to look at the past to predict the future. We are on the cusp of having a lot of AI experiments turn into products. Additionally, we have a lot of workers wanting to unionize, as employers look for alternatives several will choose automation and then the domino effect will begin.
It’s so easy to make a horrible concept seem great with happy little drawings.
Amen
Here In Alaska we love this UBI concept, it has worked great for the last 30 years 💰👏
@@breakdance4cash228 There's a huge difference between state power and Federal power.. Read the Constitution and the Federalist Papers..
Also, $1000 -$2000per year vs $1000 per month is a huge difference.
The money is dependant on oil and gas reserves. If there's more the dividend goes up. Less? It goes down. Dries up?.. well, so would the PFD..
It was done to help stabilize the state that was struggling to make ends meet and had high taxes because of it.
The UBI would be the creation of a "guaranteed" living wage of basic income.
If you give people a huge portion of their income for doing absolutely nothing they will only become dependant on it. It could never be reduced because people would feel they would have a RIGHT to it, when they do not. It would only increase.
This is completely different than the situation in Alaska, although I'm sure the people have come to count on this money, it's not given to them with the promise that it's a guaranteed income.
The PFD in Alaska is tied to oil and gas revenue.
The Federal government doesn't create any wealth..
The UBI is tied to what? Our already insurmountable debt?
If you give people an income for free, you make them your slaves.
What's horrible about it?
"no reason to implement UBI" lol
People with no disposable income don't buy fancy things, so less income and possibilities for the riches like you !
A country will probably be brave enough to test it sooner or later. We'll observe the results and see if they reflect our expectations. We'll then take it from there. If it works, it works. Sounds like a big risk, an 'all in' poker move, but maybe it's worth it
Some people would say that COVID stimulus was a form of UBI. What would the author have to say in response?
Everyone has to understand that this would NOT cause inflation as long as money to fund this program would come from the current economy itself and not be printed out. This money could come from higher taxes on the rich, cutting the military spending and cutting some income support programs
@Hybrid Theory bullshit dummy. Do you even know homeless people? Most get a "crazy" check. They already get paid. You think they just survive? Coke and Meth dont pay for itself.
Exactly. I hate how Yang feels he must ingratiate himself to European ideas because progressives claim the VAT is a great idea. If we cut our military to only 10% more than Russia's budget, got rid of loopholes in welfare where people have more food than those with a job, and make sure our current tax code (as stupidly complicated as it is) can't be evaded by the rich, this would easily cover UBI costs.
Bob Chuck you don’t understand inflation
Like giving your kid an allowance for doing no chores. Great lesson.
Well no, more like giving a kid enough to maintain his ability to live, which is already what parents do, and allowing them to work to earn things they'd like to have.
A “kid” an 18 year old is not a kid kid anymore. He/She is going to college now (hopefully) and is living by themselves at college; they are not doing chores at home. So how about he/she signs up for the UBI and uses does $1,000 to pay for their food expenses so that he/she doesn’t have to work a ton just so that he/she graduates with huge student loans.
@@gaskinforeman303 Well, no, the kid already has a roof over his/her head and food.Gifts for birthdays, great! But, giving your child an allowance without requiring some effort on their part is bad parenting, period.
@@accountsequity5587 Something for nothing is what it boils down to. That's a lazy mentality.
That's why you see ads for lawyers plastered across television and billboards. Something for nothing is becoming the expectation. It's screwing our culture.
How about get a job and work your way through life like the millions of individuals who preceded you did? We, the workers, don't need another tax burden.
If you really need a leg up, join the military, then go to college.
@@benevolentautore4463 In this situation no. The government does not ensure there's a roof over someones head or that theyre fed. But it wastes far more tax dollars on telling certain kids that they can survive another week as long as thry dont make too much on their own.
I know people think it's a great idea, but I've hear stories from Alaska with this. The day many get their checks, people spend the money on alcohol and drugs. They don't use it for food, rent or education.
UBI would never reduce productivity to work. Because it is only enough to cover for the most basic things. People would work for things they WANT not for the things they desperately need.
What about those people that does not have wants?
Nice to see that our viewers are not into this "free money" idea
Racist!!!!!!
@@JesusChrist-rf9wn Jesus?
Nice to see your viewers are dimwits who refuse to look at the data behind the benefits of UBI, Alaska has had UBI for more than 30 years! Wake the fuck up America!!!
UBI is not free. The Automation technology was inherited by us all.
If a company replaces all its Employees with Robots they reduce their costs too. If the VAT is charged taking a portion of the "No Human Employee" savings the UBI would not cost more.
EG Amazon replaces more workers with robots (which is happening), reduces it's costs by 20%
Add a VAT of 10% to all purchases, the cost is still 10% less and we all benefit when the VAT is converted to UBI. It's a trickle up system. The UBI is also so low, that there is still incentive to work when able to raise your living standard. Think about it, could you live on $12K a year? My colleague pays $25K a year in Health Insurance alone, my prior home taxes were $12k a year. So no I don't think it will cause inflation nor will it cause laziness. But it will prevent starving homeless people #Yang2020
www.livemint.com/companies/news/accenture-to-sell-automation-software-that-allowed-it-to-cut-40-000-jobs-1548768068351.html
Goods and cars will cost way more , since small and medium business owners will pay higher taxes
The companies automating jobs away are enjoying huge savings. So let's say their costs go down by 20% due to laying off employees, and we add a VAT of 7%, then the goods are still 13% cheaper. This means all people are sharing in the savings created by automation.
www.bloomberg.com/news/articles/2019-01-29/accenture-debuts-platform-that-automated-40-000-roles
#Yang2020
Goods and cars always increase in price over time. I'm not sure why people miss that
With Automation, goods and cars can be products in greater quantities with cheaper price. China is building a fully automate factory to produce TV screen, monitor and expect to drive down the price.
So don't be so sure since AI and Automation will be a big change, it takes the costs of labors out of equation which many companies no longer have the incentives to move outside of US to produce things cheaply from "cheap labor" like before.
@@tommy07robs What! Soon as you drive your new car off the lot, it get devalued. Try to sell your new car a month after you bought it, you won't get the price you paid for it.
@@Mwoods2272 As in new cars silly person lol. A brand new car 10 years ago was usually about 20k. While some brand new cars are still around there most cost about 27 to 32k
Would this do away with Social Security?
I need the ubi for the xtra 12k...I could go on a couple great vacations yearly...