Wednesday, June 1, 2016

Q&A - 1/6


The numbers for basic income does not add up..

Ha ha 

Finally we started seeing some comments on the issue. The Swiss will be voting on BI soon apparently, hence the interest..

BI is not for everyone. In the case of US, for starters, foreign-born immigrants should not qualify. Don't give any money to Arnold Schwarzenegger - he doesn't need it anyway. That reduces the number to 316 - 42 = 274 million.

Giving only to ppl over 21, 3/4's of the # above is 205.5 million. $400 a month to these people makes about $1 trillion.

US pays about 60% of its budget to entitlement programs - a recent budget was $3.78 trillion, 60% of that is $2.27 trillion, these programs are healthcare, social sec, food stamps, etc. All that is canceled.
More money needed? Close tax loopholes, offshore schemes, go to the corporations, rich people, tax their ass. Or if a person has a job, give them half BI - the allocations would be simple to adjust, a couple if..else statements added to a piece of software.

It is true social security pays 15,528 per year on average, and the final BI payment can fall a bit short of that, but throughout their lifetime people would work, and pay to their private retirement accounts, and when they retire they can have a good income. Social Security will go bust anyway, so any comparison to it is like comparing apples and oranges, or..  comparing an orange to a rotten apple.

After all that, what did we gain in return? Today 50 MILLION PEOPLE ARE ON FOOD STAMPS IN AMERICA. Now they have income, they can eat whatever they want, without some "very nice" state senator deciding what they eat. Poverty - gone.

Another benefit: 70% of employees are not engaged at work, most of these people, I assume, hate what they do / and probably working on useless shit. These people will have the freedom to try out other things, and be more productive.

Besides the immediate help it provides, BI is a political bribe like any other. It's main function is to quell discontent; Sausage making banks were bailed out, defunct car makers were bailed out, money has been poured down the drain for stupid wars, naturally there will be residual bad feelings left from that. BI will help manage this negative perception.

Q&A - 21/5

Question How do you empirically prove interest rates do not cause increase or decrease in GDP growth? There is a test for that Data ,...