Helicopter money, MMT, magic money for everyone, unlimited and no downsides, right? Not so fast. The Hidden Costs Of A Universal Basic Income https://www.zerohedge.com/personal-finance/hidden-costs-universal-basic-inco... https://mises.org/wire/hidden-costs-universal-basic-income The universal basic income (UBI) is gaining popularity as the alternative to the current welfare system. The idea is to give each citizen the same amount of money, no matter if he or she works or not. Therefore, unlike traditional welfare systems, the UBI has no means test, nor willingness-to-work test. Nobody would be then left without a livelihood even if there is no work for him. Doesn’t that sound great? The problem is that the program must be financed somehow. Let us assume for simplicity that there are 250 million adult Americans and that each of them would receive $1,000 monthly (as presidential candidate Andrew Yang proposes). So we get a total cost of $250 billion monthly and $3 trillion annually. It would amount to about 14 percent of US GDP, or 42 percent of total government spending, or 73 percent of the federal outlays. For comparison, this is more than the total expenditure on health care, defense, and education. And yet we are talking about “just” $12,000 annually (or 19 percent of the median household salary, or 36 percent of the median personal income). Good luck with such an expensive program! This is why the UBI is a utopian idea. Its introduction would require either a departure from universality (e.g., providing benefits only for young people), or a departure from unconditionality (e.g., the introduction of an income criterion), or reducing payment to small symbolic amounts. Other options include a radical increase in taxes, or implementing "modern monetary theory" and launching the printing press. The first two options would distort the idea of the program, transforming it into another traditional welfare program. The third scenario would not fulfill the program goals, as it would neither eradicate poverty nor significantly increase social security. And the last two options would have negative overall economic consequences that could lead to the results contrary to the intentions of the program, (e.g., an increase in the unemployment rate as a result of additional tax burden on wages), or a reduction in the amount of real benefits as a result of increased inflation. It means that the implementation of the UBI at a substantial level without incurring significant economic costs is a myth. ... On Wed, Mar 20, 2019 at 12:51:36PM +1100, Zenaan Harkness wrote:
UBI - $1,000 a month - an unstoppable, non-partisan message:
Andrew Yang Draws Crowd of 3,000 Supporters in San Francisco http://dstormer6em3i4km.onion/andrew-yang-draws-crowd-of-3000-supporters-in-...
… Yang is successfully uniting the political left and political right with a very simple message. He understands that all people regardless of their political beliefs would like $1,000 a month in free money. That’s because there’s lots of things a person can do with $1,000 a month in free money. It’s a winning message and there are no flaws with it.
And what are his political opponents going to do during the debates? All he has to say is that he’s the only candidate in the field who wants to give everybody $1,000 a month in free money. This marks instant defeat for his opposition because they do not want to give everybody $1,000 a month in free money.
The money system is all fake anyway. They are just digits punched into computers run by Jewish bankers. So who cares if $1,000 of this fake Jewish money is deposited into everybody’s bank accounts on a monthly basis?
If Yang’s plan of giving $1,000 a month to everybody results in an economic collapse as some doomsday theorists are predicting, then that’s an even better result than we could hope for. It’d be like the end of Fight Club when everybody’s bank accounts were reset to zero. There are literally no flaws with this plan.
Huwaites are firetrucked gen-X shirt-libbers these days, so messages of self responsibility breeze right in one ear and right out the other - so if you want "muh spiritual lessons", bring on UBI and a sooner than expected systemic ponzi collapse FTW muffuluggerah!
MUGGAHMUFFULUGGERAHAHAHHAHHHHAHHAHAAAAAAAAHHHHHHHHHHH!!!!!!!!
Flawless plan... no downsides.
On Thu, Mar 14, 2019 at 09:39:47PM +1100, Zenaan Harkness wrote:
UBI? You bet it!
Trump has lost his base.
Trump is a MIGA shill (Make Israel Great Again). About that - almost the entire USA BigGov is MIGA.
"Oh no! AIPAC does not exist, and even if it does it serves the American people because Israel is our greatest ally! MAGA!"
MIGA Shills Fail to Deliver the May-Mays https://dailystormer.name/miga-shills-fail-to-deliver-the-may-mays/
The manufacturing, transport and much of the commercial world shall largely/ continue to, automate, with jobs disappearing as a result.
With trade and commerce, comes a money pyramid.
Setting aside for another conversation the fiat ponzi that is the non-constitutional Federal Reserve banking system (which is neither federal, nor reserve), whoever prints the money (Rothschilds or your Gov.) does not change the wealth percolating to the top of the pyramid hierarchy. Removing the Federal Reserve from the mix simply means a potentially much longer time frame before bubbles burst, and possibly greater stability.
So, at the moment, most of the money printed each year goes to service debt (i.e. goes to the Rothschilds) and most of the rest goes to Lockheed Martin and Co.
In the USA, assume ~300 million people, getting $1K per month, this = ~ $300 billion per month into citizens hands.
The majority of that goes to rent, food, transport, electricity and communications. I.e., straight into the economy with its consequent multi level taxation and money velocity - i.e., a fair whack goes back to Gov. and the rest goes to those at the top of the commerce pyramid.
That's better than the majority of each month's Gov "money" print going to the Rothschilds and Lockheed Martin Death Complex.
So, +1 for UBI in the neo world novo economy ...