9 votes

Is Universal Basic Income The Key To The Future? | Answers With Joe

4 comments

  1. [3]
    semideclared
    Link
    I think the UBI is being sold the wrong way. It's trying to sell itself against its most challenging critics Make it the game changer it should be Sure there are going to be higher price trends...

    I think the UBI is being sold the wrong way. It's trying to sell itself against its most challenging critics

    Make it the game changer it should be

    Sure there are going to be higher price trends for some areas for those that still want a fancy, yuppie, hip, lifestyle. For those that want to work and live the life

    But also there will be many cities right now that are dying out that will see it as a city revitalization solution. A UBI is great for people in low costs city where You can live anywhere and earn 12,000 a year. All the sudden some cities both high cost of living and low cost of living are going to directly compete for new and existing residents.

    Here is the pitch to make to people living in Ohio, coal towns in Appalachia, Wyoming, etc

    Every year your town gets smaller, but this is the plan to grow your city. To provide new tax revenues

    X small town might offer $1,000 to any new residents as moving cost. On top of saying

    • current 1 bedroom apartment is $400 a month
    • 2 bedrooms $700 a month
    • food prices are below x big city average, $90 per person per month
    • new parks and recreation dept activities for the family
    • low prices theaters seem to thrive in low cost of living cities, low cost entertainment can become the norm

    All this brings 1000 new people to the city. The city sees the increase sales tax revenue and the businesses that were dying are back. The entrepreneur residents see there is no coffee bar and opens a new coffee shop. Now we're pro business

    13 votes
    1. moocow1452
      Link Parent
      So, similar to an inverted property tax? It has some promise, but my back of the hand concerns is the evergreen "where is the money coming from?" and if there's going to be a landgrab where the...

      So, similar to an inverted property tax? It has some promise, but my back of the hand concerns is the evergreen "where is the money coming from?" and if there's going to be a landgrab where the richies buy up funded property, and rent or sit on it in such a way that they net the passive income benefits with no real help to the people who need it. Maybe it's the minimum wage argument again, but anywhere that money is involved, someone's probably going to try and make a buck, and not in the local entrepreneur way.

      3 votes
    2. NaraVara
      Link Parent
      There is some real doubt as to whether it's going to bring the ambitious "creative class" type of entrepreneur residents you would need, or just transient people who want to hang out and do...

      All this brings 1000 new people to the city.

      There is some real doubt as to whether it's going to bring the ambitious "creative class" type of entrepreneur residents you would need, or just transient people who want to hang out and do shift-work.

      For a variety of reasons, incentives to pay down student loans, provide first-time home buyers' financing deals, subsidizing small business loans, and investing public funds in city amenities--like transit, infill development, and city beautification--would be a much more scalable use of resources. Not least of which is because they're actually targeting the feedback loops you're talking about and it focuses on keeping people there over the long term rather than letting people roam away as soon as they get a better offer or job elsewhere.

      1 vote
  2. Amarok
    Link
    The elimination of means testing (aka state-sponsored spying) is a huuuuge win for me. I just don't trust the orgs/gov branches who would do this testing to get it right and not become corrupt...

    The elimination of means testing (aka state-sponsored spying) is a huuuuge win for me. I just don't trust the orgs/gov branches who would do this testing to get it right and not become corrupt over time - it's inevitable when money's involved and there are multiple layers of bureaucracy. Our current welfare programs suffer from this now. There's no way in hell for a government employee to know better than the individual what they need to spend their money on, either.

    It's far, far better to eliminate the opportunity for humans to muck up the system in the first place, and it's cheaper too. If governments want to provide advice on how to get the most out of your UBI payments, that's perfectly fine with me and I'd even encourage it. Nothing wrong with learning financial responsibility. If you fuck it up this month and make bad decisions, you get another shot at getting it right next month, and the month after, and so on.

    I'd like to see it happen at multiple levels of government, and generally replace other welfare programs. Set up a federal UBI, and one for each state (which allows states to compete with each other for migrant population), and as @semideclared suggested even one for each city where it's appropriate. The combination of all three of these may spread out the financial load and perhaps then no single UBI has to be so large.

    I also like it because it's giving the government (at multiple levels) a solid economic lever that they currently don't have, almost like a gas pedal for the economy. They can't get that with the current welfare programs. Just like when the fed sets interest rates.

    I was glad to see this video talk about the 'nest egg' effect of holding/saving UBI payments for children until they turn 18 too. Young adults start off their adult life with a little help that will get them through college, training, and moving around the country while they try to decide what they want to do and where they'd like to live.

    Overall this is the best summary I've seen of the pros/cons/research in a single short video. I'm definitely subscribing to this channel, so thanks for that! :D

    5 votes