As people are asked to stay home and to follow social distancing rules . It is predicted automation and AI will be on the rise to replace many of the jobs lost. Jobs will be vanishing as automation, and an army of robots march into our workplace. The idea of a universal basic income (UBI) has recently resurfaced and risen to prominence in global policy discussions, with strong arguments from both proponents and opponents. UBI is defined as unconditional income granted to each citizen, irrespective of work criteria, or a means test.
A NEW SURVEY SHOWED, IN FACT, 76% OF ALL AMERICANS, BOTH DEMOCRATS AND REPUBLICANS, SUPPORT A GUARANTEED INCOME.
The problems that UBI are supposed to address are real and concerning. Automation is replacing labor at an alarming rate. There simply are not going to be viable jobs for thousands or millions of people. Even Henry Ford understood that if he didn’t pay his employees enough, they wouldn’t be able to afford his cars. He understood he needed to spread the wealth to keep the system going. I don’t have a bit of faith that “government” could devise or implement a rational solution, but UBI proposal sounds interesting. There are reasonable arguments to be leveled in good faith against the UBI platform, which Andrew Yang has dubbed “The Freedom Dividend,” but what was once considered a utopian pipe-dream is beginning to sound more plausible in light of the unfolding tectonic economic and technological shifts. Once you have fouled the monetary atmosphere with QE to infinity, why not print up some more for UBI. UBI works wonderfully with people who naturally work and enjoy benefiting their community. If you do not feed people, they always start a revolution. If you do not give the people land to grow their own food or the means to earn it, the same. It doesn’t matter how you twist the legal system in favor of the rentiers; if people don’t eat, they revolt. Now, reconsider UBI in that light.
The fact remains that the majority of low wage jobs now have the employers breaking the law left, right, and center. Consider how much people in those jobs care about the law when it clearly does not help them when they are wronged. Even the unquestioned Roman Caesars gave out a UBI when there was no work or land to be had. The reason why UBI makes more sense than giving money to wealthy individuals and corporations: Empowering hundreds of millions of people to spend and invest creates a VAST capitalist market. Giving it to a tiny fraction of the population to spend and invest is an ineffective anti-capitalist oligarchy. The government and FED already give free money to corporations: Corporate Basic Income or CBI. Plus, wealth inequality and the pharisee power base continue to grow without UBI. So I can’t see what the deal is. Without UBI, no one will be able to buy anything because no one will have any money left, so it’s a choice between pitchforks and UBI, so the elite are choosing UBI. I’d personally prefer to take the pitchforks up, but don’t make the mistake of thinking there are any other alternatives.
Trump recently said that he is not interested in another stimulus, at least not in the month of May, he wants to wait and see what we, the peasants, do with ALL the money he gave us the first time! In the last two months of lockdown, I guess he thinks $1,200 is a lot of money! That doesn’t pay a month’s worth of rent or mortgage ,talk about utilities, insurance, food, necessities, car payments, etc. etc. I’d like to see him live on that for two months! We need more stimulus payments. His rich corporate friends got their bailout! ” A no strings attached income,” you know, like the $484 billion they handed to the 2000 largest corporations and 200,000 richest families. The Fed has DUMPED over $33 TRILLION into Wall St since 2008, and the BAILOUT had $4 TRILLION for BILLIONAIRES AND MULTINATIONAL CORPORATIONS, but real Americans get a pittance. Anybody that thinks our government isn’t owned by the BILLIONAIRES is LIVING in dreamland. The one percent are given a guaranteed income in the millions.
When Yang proposed UBI, Trump called it welfare. Now Trump is giving out welfare, but he calls it stimulus. The UBI would make workers less dependent on their employers and more willing to competitively seek better employment, but if the minimum wage is removed and UBI becomes the floor for lunch cable income, this would lower the barrier of entry to employing people on both the employee’s side and the employers allowing smaller companies to more easily risk hiring people that they have not had direct experience with. UBI would actually benefit employers in the long run. At least the employers who are not trying to maintain absolute power and control over their employees and abuse them.
UBI would allow folks to stay home during this epidemic, giving time for the government to manufacture the masks, testing kits, and systems to trace this epidemic. A “universal basic income” when many still have not received their stimulus checks. When millions still cannot register for unemployment assistance. Coincidentally, many large corporate institutions received their stimulus payments on demand, while those who really need assistance are waiting in long food handout lines simply to survive. Most Americans would use the additional income to pay off the massive debt they have incurred because we are being robbed blind bye the rich every chance they get. It would allow people that are stuck working two jobs to maybe quit one of those jobs and see their family’s again.
Republicans say they are concerned with keeping the family unit. One of the main causes of divorce is financial difficulties. Doing this stimulates local economies. It redirects the money that would have been given to the Billionaires by the government back into circulation. It makes a not-insignificant portion of the population irate that minorities might get something. What I do not understand is why this is even a THOUGHT and not being passed RIGHT NOW !!! UBI of $2,000 dollars per month will allow people to meet their BASIC NEEDS such as food, water, shelter, clothing, etc. Therefore LOWERING the crime rate because people do not have to do STUPID stuff to try and survive.
People are NOT going to sit on it they are going to SPEND it, therefore stimulating the economy in a MUCH more healthy way then Stock Buybacks, which is nothing more than artificially inflating the stock market ONCE AGAIN !!! When people actually BUY an item, it is a MUCH more genuine way of raising the stock value because of the simple fact that it is ACTUAL Demand instead of Artificial Demand OR Artificial Value.
And it takes MANY jobs for that item to go from :
1.) simple material sent to the factory.
2.) assembled in that factory.
3.) delivered to a retail store.
4.) bought by someone.
So instead of just buying Artificial stock that will rise and POP again by buying ACTUAL items. It is creating MORE jobs because it is an ACTUAL item that is being mined for resources, assembled, delivered, and sold. And ACTUALLY demanded not from the top BUT from the BOTTOM where it ALL begins !!! UBI is here to stay. Many jobs will disappear after this crisis, and re-training people takes time. This is the only fair way to take care of our citizens and bring back our economy. The same people who don’t support UBI will never mention unlimited cash bailouts for derivatives ghouls, finance capital parasites, and zombie bankers. Bush did it, Obama did it, and Trump -the ersatz populist – turned these massive capital flow distortions into stealth permanent economic policy. Andrew Yang’s UBI recommendation is now actually feasible.
You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Horrible that the US is so quick to give money to other countries & Businesses, but place hurtles for the common American Citizen to get through the worse crisis in American History. Imagine getting money for doing nothing, like Donald Trump, the Koch brothers, or the Walton kids. The free markets are already destroyed. The economy we deal with is a government-controlled system. Most of the real work is done by machines. The government does not work, yet it is huge. The system is so distorted by government intervention that people don’t even know what is going on. The fact is there would be huge motivation to work for more money unless the universal income was too large. How long will it take to get to get back to the world before the Coronavirus? Some think never.
They have good reasons to think like that. Many companies, airlines, cruise lines, hotels, retailers, elements of the service industry, and more will have disappeared, unable to weather the storm. Unemployment will remain high. Marry this to the impending tsunami of technological innovations of artificial intelligence and clever machines just waiting to swamp our manufacturing and service industries.
Who will need expensive and unreliable humans? Sure there will be jobs for a handful, but for the vast majority of us, who come to the workplace needing occasional sleep, and go to the bathroom, get sick, and want vacations! Thank you, and goodbye. So what’s going to happen to us. It’s already happened to tens of millions, principally the ones whose jobs have been shipped abroad over the last two or three decades. The ones who turned in their desperation to the only savior they saw, and are desperately hanging on to his false promises of bringing jobs back and making America great again. Will we all be left to die without food, shelter, or health care? Probably not. So what to do? Get rid of the money.
There are other and better ways of exchanging credit. Hopefully, a system which will curb the ridiculous ambitions of a few lucky or ruthless individuals from cornering the market and stashing billions in offshore accounts. All fit and able folk will be tasked with community duties for which they, together with the unfit, the young and the old will receive credit. Probably in the form of digital currency. The system will be geared to encourage individual enterprise and learning for extra credit. There will be a base level of housing, and health care below which no individual will need to forgo unless they so choose. It’s impossible for me to realistically envision any other system except a sort of dog eats dog dystopia.
Why is it we the people have to beg for our tax dollars to help us, but the rich just ask once and get it? For the last few years, Amazon, Delta, & other Big corporate hustlers Paid no federal taxes. And, they should have been cut off that Careless Act Bill for Covid19. It really included Nothing for US taxpayer, but giving tax breaks to greedy, entitled minded businesses. A Basic Income for six months would help out now! Raising Wages to $20 an hour after the Economy gets better and Taxing the Wealthy and Corporations on 75% of their profits offshore and stateside will pay Everyday Americans back! They Have benefited In the Trillions of Dollars in the last three years! The American People want that money back! It will be time for companies to cut CEO paychecks and reinvest in the Workers again! Placing trillions into the hands of actual people vs corporations ensures that those trillions will absolutely trickle up as we all utilize the bucks to pay bills, buy groceries, get cars repaired, etc. Even if we just banked the cash, it still is circulating as loans then to help the economy.
The way I see it, corporations want to keep people in debt and poor and have the trillions put directly into their hands, bypassing the citizens. Give the dough to the people. The big businesses will get it all eventually anyway. Corporations have shown they will spread it throughout their top management while cutting lower-level staff. If people received it, they would spend or invest it in the economy in some fashion, so it would help for a short time. If Americans want to stimulate the economy and boost recovery, UBI will help enormously. Yes, we will always have people who will spend frivolously, but the majority will use this money to meet their basic needs. Economic security will also stabilize society in many other ways as well.
There is a lot that has been written about this. Also, even if people made stupid purchases, the money would still be going back into the economy, Food bills, and rent, and not to some offshore bank account. The elderly, The infant, and the disabled all deserve the freedoms of the bill of rights. These people are paying taxes, give them something. Those that can’t contribute the strong take up the slack of the weak. We don’t leave them to die. The money that would go to the people that need this, would be coming from the wealth that these very same people have generated for the economy. And will go back into the very economy that generates it. It’s not like they are just going to sit on it, they will spend it in that economy. Workers are being dropped regardless.
Automation is coming with or without UBI or minimum wages. If you read Chinese news, you will know that hundreds of thousands of Chinese workers are losing their jobs to automation. Even cheap Chinese workers are being replaced. Read the writing on the wall. What do you think will happen to more experienced American workers? Unlike the coupon clippers of Wall St., who send their money offshore. Wealthy people have guaranteed income from all kinds of sources, and they do not have to work one tiny bit for it. Funny thing is the 0.1% cried out for “UBI for corporations.” Let’s see where this goes. In the near future, Over 46 Million Renters will end up homeless. Over 85% of apartment buildings and rental properties will be empty, and 4 out of 5 houses will be vacant by 2021. The wall and wall street got all the money.
The Government Bailed Out Insurance Companies, Big Banks, Car Manufacturers, Airlines, etc., but is not willing to Bail Out million of Renters. Canada did a basic income experiment in the mid-’70s in Dauphin, Manitoba. They were hoping for positive results. What they got blew them away. Crime dropped, SIGNIFICANTLY. Calls to fire, police, and emergency services dropped. Doctors’ visits dropped. All the kids made it to graduation. There was maybe one teenage pregnancy, and so on. Everyone was happy and content. Sadly, an election saw the change in government, and the study was shelved. It was called “mincome” if you want to look it up. UBI Gives the economy a boost. It will benefit everyone. Trickle up economics. This is absolutely what we must do if we are serious about restarting the economy. Supply-side economics is BS.
The economy is driven by consumer demand. If consumers are broke, there will be no demand. The recovery will be slow, slow, slow, on the scale of years. The top 20% in just 2019 alone, received more than $4 trillion without “working for it” . And that does not seem to impact their willingness to work, or not work. It is past time to trash the notion that getting a UBI will condition people to be unwilling to work. If they had been appropriately taxing the rich and giving people a living wage instead of having 1% people unfairly sitting on billions that we all helped make; then we would have been able to weather any shock to the economy.
Because people and the government would have been able to save for times like these. The Super Rich make millions and billions without working. They get huge tax breaks. But give a poor person some money and some people go crazy saying this is socialism. Universal Basic Income with a nationalized Federal Reserve, Zero Trade deficit, and release of the suppressed technologies. Like Lithium Batteries that were ready for market in the 1970s. There is so much the tech Cannibals have kept hidden from the public. It is about time USA citizens get real economic security as we have it in Europe. Fourteen other countries are doing it, and they aren’t as rich as we are. Isn’t the U.S. supposed to be the wealthiest country in the world? It’s not money for nothing; it’s keeping people from poverty. We need this for one year straight, at least.
The money would go back into the economy somewhere or another. If we can afford to give trillions to banks so they can maintain their lifestyles, we can afford to give money to poor people so they can have something to eat. While people starve, Amazon is still shipping products and paying no taxes. Brilliant! We spend WAY more than we should on corporate bailouts and breaks. We also WAY overspend on the military. It’s time for the people to get a bailout! The corporations have been subsidized. Now,. It’s time to subsidize the American people! Don’t Forget the Homeless. They Need Food. They Are Humans too. People need basic needs met in order to have a future and improve their skills, study, etc.
The government can pull trillions of dollars out thin air for airlines, cruise ships, and other corporations and then grudgingly give the peasants $1,200 and saying “make that last eight or more weeks.” Those airlines and big corporations will still go belly up until customers have money to spend on them. Give the money to the people to spend on what they need.
Sitting on the economy, hoping to squeeze every last penny from the people alive today, is neither ethical nor savvy. You want to make money? Support the system that supports you. No billionaire ever really made it all on their own. They needed the pocketbooks of millions to make billions. The elite and one percent love watching the working class, hate on each other, and blame each other, as we fight over the crumbs they drop.
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