Toggle sidebar

Beginning of Universal Basic Income?

HagginHall1999

HagginHall1999

Heisman
Oct 19, 2018
15,812
28,209
113
See attached story. IMO if something like this happens it is likely never going away...

Why would anyone work towards a career or a goal? Honest question.

$2000 a month per person? Hell, I would be inclined to quit working depending on how this is rolled out. If it is based on family income like the stimulus and there are percentages before cut-off you are talking $5500 a month for a family of 5 to do squat.

Maybe they would shrink it after COVID but I guarantee it would stay around.

https://www.businessinsider.com/ame...a-month-under-house-democrats-plan-2020-4?amp
 
  • Like
Reactions: Blu-ish and UKvisitor_rivals101449
HagginHall1999

HagginHall1999

Heisman
Oct 19, 2018
15,812
28,209
113
Catfan in Tn. said:
Would never end after 6 months and the Representatives that put this together know that.
Click to expand...

Serious question. If this has to do with COVID and unemployment...why not just base unemployment payout per month on tax return from 2018 or 2019?

Run it until we are through this?

Some get significantly more and some significantly less. But making the same as they were making prior to unemployment?
 
HagginHall1999

HagginHall1999

Heisman
Oct 19, 2018
15,812
28,209
113
Lol, it isn't a hard pass thing guys.

Again, if they followed same rules they did with stimulus you are talking about added money in your pocket. Where is this coming from?

Say you make the max for filing jointly to still qualify. With stimulus is was $190k. Say you have 2 kids. So your family makes $190k salary + $5000 a month in UBI.

Point is, if they institute something like this it will not go away...it may be morphed or decreased but will be something.

The lasting effect would be surreal imo.
 
  • Like
Reactions: Blu-ish
HagginHall1999

HagginHall1999

Heisman
Oct 19, 2018
15,812
28,209
113
buckethead1978 said:
There will be a Universal Basic Income in 20 years because of machine learning, AI, and increased automation.
Click to expand...

I don't think it is 20. I think it will happen much much sooner. I told my parents and wife within the next 5 years at the latest. Once 5G is here in full capacity the world will be changing significantly.
 
F

Franchise

Heisman
Nov 7, 2001
35,141
10,112
113
Sawnee Cat said:
That is poverty for everyone. That represents most people's house payment.
Click to expand...

If you are on universal basic income, you probably do not need to be owning a house to begin with. Especially a $300,000+ home, which is what a $2,000 mortgage would equate to. It would also not prevent you from finding work to bolster your income if you wanted a more expensive lifestyle.
 
D

dgtatu01

All-Conference
Sep 21, 2005
8,673
2,622
0
There is going to be a UBI coming out of this crisis. I believe we are going to see a shift of government existing to keep employment levels high and the federal reserve keeping liquidity in a range that prevents slowdowns, but also keeps inflation under control. It's obvious at this point the debt doesn't matter. If it doesn't cause inflation then it doesn't matter and it has ballooned for the last 20 years without causing any inflation at all. We need another New Deal though so the government spends the money making the country better instead of just funneling it into different interest groups pockets.

Updating the interstate highway system, modernizing energy production, and taking care of healthcare should be priorities. Until a month ago I was a dyed in the wool conservative, but I just don't see limited government spending as a path forward. Honestly we're not limiting spending anyway, were letting super rich people keep it in their pockets. If spending is going to be at the levels it is it ought to benefit all of us.

As for the debt I would look at that as an amount of money the government has the right to claim back in taxes at a future date instead of some number that must be paid back. The only thing they ever have to pay is interest and they print the money to pay that.
 
  • Like
Reactions: mailman85_rivals376684, bushrod1965, mhroe1984 and 4 others
D

dgtatu01

All-Conference
Sep 21, 2005
8,673
2,622
0
gamecockcat said:
Ans just where is this tree that sprouts golden apples that will pay for all this? Ridiculous idea when we have $24 trillion and counting in debt and more being tacked on daily. Someone with no idea of how economics work came up with this fiasco.
Click to expand...
What problems does the debt create?
 
B

bcw1029

All-Conference
Feb 24, 2007
1,506
2,482
0
Finland and Ontario have both already tried the UBI in pilot testing programs and both were cancelled way ahead of schedule. It was estimated by the OECD that Finland would have had to raise their income tax nearly 30% which was unrealistic given their 45-50% taxation rate at an already high level.

Stockton, CA is doing it’s own pilot program as well. I’ve not had the time to read their results and findings.
 
  • Like
Reactions: kyeric, thebluestripes, warrior-cat and 1 other person
G

ganner918_rivals60369

Heisman
Mar 13, 2004
14,745
12,925
0
gamecockcat said:
Ans just where is this tree that sprouts golden apples that will pay for all this? Ridiculous idea when we have $24 trillion and counting in debt and more being tacked on daily. Someone with no idea of how economics work came up with this fiasco.
Click to expand...

It's not right for today's economy, yet, but it's the answer to "what happens when production is decoupled from human labor as a result of automation and AI?"
 
  • Like
Reactions: wildcatsboston1984_rivals
D

Diggers_Matching_Highlighter_rivals62132

Senior
Mar 19, 2006
1,069
653
113
It is a better solution than running the CARE unemployment through the states' unemployment offices. We are about two weeks away from full-on anarchy in Florida. There have been 580,000 applicants. Disney is dumping another 40K into the queue this week. They are currently filling 80,000 applications a week.

That is a 2 month lag.

From what I can tell the unemployment application process is too far gone to be fixed. Many companies furloughed employees thinking the government was providing a safety net.

It is going to get really bad unless Florida can come up with a new distribution process within the next few days.
 
John Henry

John Henry

Hall of Famer
Aug 18, 2007
35,514
172,437
113
WildcatFan1982 said:
You think most people are paying $2000 a month for their house?
Click to expand...
I will narrow it down to my neighborhood. Unless you pay cash, which I was able to do, or put enough cash down to have a lower house payment, you will have a $2,000 or more house payment. Where in the hell do you live?
 
  • Like
Reactions: joeyrupption
John Henry

John Henry

Hall of Famer
Aug 18, 2007
35,514
172,437
113
Diggers_Matching_Highlighter said:
It is a better solution than running the CARE unemployment through the states' unemployment offices. We are about two weeks away from full-on anarchy in Florida. There have been 580,000 applicants. Disney is dumping another 40K into the queue this week. They are currently filling 80,000 applications a week.

That is a 2 month lag.

From what I can tell the unemployment application process is too far gone to be fixed. Many companies furloughed employees thinking the government was providing a safety net.

It is going to get really bad unless Florida can come up with a new distribution process within the next few days.
Click to expand...
And we are furloughing doctors and their staff and hospitals have empty beds.

I think we will open most of the state soon but that does not solve the problem you mentioned.
 
  • Like
Reactions: warrior-cat and UKGrad93
B

BankerCat12

All-American
Sep 21, 2012
5,919
9,585
113
WildcatFan1982 said:
Indiana. The average mortgage payment here is $693.
Click to expand...

False. You have no way of knowing what each owner's loan terms are. Including taxes and insurance, you are possibly living in a $100,00 house with 5% down at 5% on a 30yr fixed rate term. I am not including the PMI since you cant save enough.
 
  • Like
Reactions: warrior-cat
W

wildcatsboston1984_rivals

All-American
Mar 23, 2012
23,493
6,068
0
$2K per month doesn’t go very far for a single person. In a place with a high cost of living that wouldn’t leave much if anything after paying rent and utilities.
 
Deeeefense

Deeeefense

Heisman
Staff member
Aug 22, 2001
43,729
49,786
113
buckethead1978 said:
There will be a Universal Basic Income in 20 years because of machine learning, AI, and increased automation.
Click to expand...

This is true. Take just one profession, truck drivers. There are 3.5 Million in the US and in another 5-10 years 90% of them will be unemployed. There are robot drive semis on the road right now as we type.

My hope is if we move towards a universal income, it will come with a few strings attached. People if healthy should be required to do X amount of public service work like the type sponsored by Americorp for instance.
 
  • Like
Reactions: wildcatwelder_rivals
W

wildcatsboston1984_rivals

All-American
Mar 23, 2012
23,493
6,068
0
wildcatsboston1984 said:
$2K per month doesn’t go very far for a single person. In a place with a high cost of living that wouldn’t leave much if anything after paying rent and utilities.
Click to expand...
Hell where I live is a low cost of living and I left a job situation I mostly tolerates because the $34K that was offered was barely going to be able to cover all the extra expenses I was going to have once I had to leave the employer provided housing. It was either that or start splitting rent with a complete stranger and well that just doesn’t like a recipe for success.
 
WildcatFan1982

WildcatFan1982

Heisman
Dec 4, 2011
21,187
17,474
81
J

JohnBlue

Heisman
Jul 22, 2003
188,376
14,335
0
The people are going to get very little of any stimulus package no matter what. What was the first one, 2 trillion? Someone do the math on that, wtih 330 million people in the country if you split it even that would be a lot of money for each person. Narrow it down to those of age and who actually pay taxes and we could sit at home for a good while.
 
  • Like
Reactions: warrior-cat
Blu-ish

Blu-ish

All-Conference
Nov 10, 2019
866
1,629
93
What is the average monthly mortgage payment in the US?
The average monthly mortgage payment in the United States is $1029*.

This payment eats up 14.84% of the typical homeowners’ monthly income. That may seem low, but we are looking at homeowners specifically — and homeowners tend to have much higher incomes than the general population, as we note later in this piece. When you add in other housing costs such as property taxes, association dues, utilities and maintenance costs, the median cost of housing jumps to $1,491 for homeowners with a mortgage.

https://www.lendingtree.com/home/mortgage/national-average-monthly-mortgage-payment/
 
B

BlueBallz_rivals30790

All-Conference
Mar 26, 2003
5,688
1,812
0
the nail at the foul line said:
The US is about to have a big increase in manufacturing. Or it damn well better. China can go suck an egg. Stop buying Chinese.
Click to expand...

I totally agree! But, this really has to be a coordinated, national movement, not just a few disparate "Made in the USA" groups. This has to come from those with deep pockets, which generally, are the same ones that are outsourcing to China in the first place to make cheaper goods. I would really like to buy American, and willing to pay more, it's just hard as hell to find those goods consistently.
 
  • Like
Reactions: mailman85_rivals376684, UKGrad93 and wildcatwelder_rivals
You must log in or register to reply here.
Top Bottom