I am curious about what your views might be on this topic. China has started to implement it, and I can't see any reason why other countries shouldn't follow the same path. Some European countries have also studied the issue, but it remains under planning. https://www.undp.org/china/publications/universal-basic-income-china If implemented, it would cause a cultural shock for many, me included, as we are used to working to get our wages. It looks like it should solve social inequalities for many, so I tend to think that is a great solution. The way it is supposed to be implemented (by a social credit score) looks like the ultimate level of control. So I wonder what your view is. I am divided at the moment.
Supposedly AI will increase productivity for such little cost which will makes goods and energy and housing dirt cheap, so the level of UBI wont have to be very much. In practice until we get to that point which could take decades, I see a lot of pain for many people. Many will lose jobs/homes/spouses.
Good question! It also exists in Europe but as a minimum stipend. I think inflation is an real issue depending on the amount of money given. But the fact is, corporate executives or union labor are paid inflated wages whose impact if far more damaging to the overall economy but we take them for granted. The issue is how much? Basic stipend like social security? minimum wage? National living wage or state or county wage? Very tricky.
China has no way to implement it. The farmers there do not even have social security or any retirement pension. Universal salary is a great idea in times of ai taking most of jobs. But what is the difference from current food stamp and Medicare? Some people in the society can never manage their own money. If government gives them 1000 dollars per month instead of food stamps, they may have spent that money in 1 week buying drugs or luxury and come back for help again for food.
I think it is a missnomer. Income implies that a person can make a living on it. If you give people 500-800 bucks a month, that is an aid not an income. But yeah, what Sdrigha said above, it just raises inflation. Now if that money came from building submarines (another not contributing asset) that may help because the money would go back into the economy.
30K a year per person. Reducing and ends many social programs. Makes it easier. If you don't want to work, here's your 30K, it won't get you far. If you want to work, you still get 30K, but make money from working. Of course, people would need to agree that having over a billion dollars is ridiculous and that money should be spread out to all beings. If we don't do this, the next generation will be fleeing america fast. We have horrible education, horrible healthcare, expensive standard of living, and everyone is miserable as hell, for good reason. Also, people are sick of standing by watching presidents say that will end war and then killing millions more people over seas every decade. America is on fire and is not what is claimed to be decades ago. Definitely not a land of opportunity anymore, if it ever was. If this doesn't get implemented, people will start fleeing hard. Where's MB to go off when you need him, hahaha.
LOL as if 1%ers owning multiple homes throughout the world (and 90+% of the wealth overall) doesn't raise inflation for the rest of us. But yeah those 6-pack a day drinking union guys do. And let's kick all the elderly and small children of single moms off food assistance because we all know they are just drug addicts.