Universal Basic Income

[Vespasian]

Been cropping up on my Utube discussions over the last few months from a variety of commentators on their channels..

 

The idea is each person gets a basic income to live on, any income after from work improves your financial situation..  Gordon Brown attempted to test the water on this issue but if you're gonna go down this road I expect you have to go all in..

 

https://www.standard.co.uk/news/uk/universal-basic-income-under55s-should-all-be-given-10000-rsa-says-a3768071.html

 

 

[Haironyourchest]

Some questions.

 

1. Who pays for it? Rough reckoning, everyone in the UK on ten grand comes to six-hundred billion a year (edit* - spread over two years) To put this in perspective, the NHS costs 116 billion per year.

 

2. What happens to inflation when everyone has an extra ten grand? Rent will go up, because landlords know their tenants have the extra cash. Shop prices will go up. Taxes will go up.

 

3. What will happen to the workforce? Many people will quite working and just live frugally on their ten grand. There will be a labour shortfall, so foreign workers will have to be imported to fill the gap. Will they be eligible for the ten grand as well? If not, then you will have an underclass of "slaves" who work, and "citizens" who don't have to. Hmmmmm.

 

4. Much of the extra wealth will be spent outside the UK economy to avoid being ripped off by inflation.

 

5. HAHAHAHAHAHA!!!!!!!...It's a nice thought though!

Edited February 16, 2018 by Haironyourchest

[eggsarascal]

15 minutes ago, Haironyourchest said:

Some questions.

 

1. Who pays for it? Rough reckoning, everyone in the UK on ten grand comes to six-hundred billion a year. To put this in perspective, the NHS costs 116 billion per year.

 

2. What happens to inflation when everyone has an extra ten grand? Rent will go up, because landlords know their tenants have the extra cash. Shop prices will go up. Taxes will go up.

 

3. What will happen to the workforce? Many people will quite working and just live frugally on their ten grand. There will be a labour shortfall, so foreign workers will have to be imported to fill the gap. Will they be eligible for the ten grand as well? If not, then you will have an underclass of "slaves" who work, and "citizens" who don't have to. Hmmmmm.

 

4. Much of the extra wealth will be spent outside the UK economy to avoid being ripped off by inflation.

 

5. HAHAHAHAHAHA!!!!!!!...It's a nice thought though!

Did you read the link? (Remembering who the editor of The Standard is).

[Haironyourchest]

I did, but confess I skimmed it a bit. So, George Osborn. Cue Google search...I gather he was all about cutting national debt, so what about his position as editor? I'm missing something.

[peatff]

5 hours ago, Haironyourchest said:

1. Who pays for it? Rough reckoning, everyone in the UK on ten grand comes to six-hundred billion a year (edit* - spread over two years) To put this in perspective, the NHS costs 116 billion per year.

 

I read it as £10,000 over 2 years so £5000 a year for not long. Most of the long term unemployed round here would just see it as extra booze and fag money.

 

The proposals would see everyone paid £5,000 a year for two years if they can demonstrate good intentions for the money.

I intend to use the money to enrich the local licensing trade 

Edited February 16, 2018 by peatff

[donnk]

lefty nonsense.

 

steal from the working to give to the feckless.

[Vespasian]

Well I think its an idea worth trying.  perhaps test the concept out on some Caribbean island to see if works out..

 

will it make the populace more industrious or idle?..   

 

The idea is coming into vogue because some economists imagine robots will take over hundreds of thousands of jobs in the not to distant future, and we'll end up with a  massive part of our population on the dole..

 

I imagine using universal Income will remove the stigma of unemployment for those people thrown onto the scrap heap.  give them some dignity, avoid a discontented underclass from fermenting a revolution..

 

I imagine theres lots to say in its favour, otherwise some of the best economists wouldn't be floating the idea..

 

[steknapp]

[steknapp]

Great video, well explained, thought this might help

[steknapp]

Lots of other great videos on his channel too if you fancy a butchers