The One Minute Case for a Basic Income

[Newest Reality]

A basic and quick resource in service of presenting the case for basic income and creating dialog as to its merits while opening the door to arguments against the idea.

“What? You think the government should just give everybody money?! Regardless of whether they worked for it or not? Regardless of whether they even need it or not? Why do you think *that* would be a good idea?”

http://www.basicincome.org/news/2013/02/opinion-the-one-minute-case-for-a-basic-income/

[6chars]

1. how much is a basic income?

article doesn't say.

[Newest Reality]

4. That is a variable,

...and how to pay for it will depend on many factors, however I've seen several proposals, especially in light of removing the bureaucratic costs of administering welfare solutions and requirements.

Not that it answers your question directly, but Alaska has had an annual cash grant for 30-years that goes to every citizen and the amount ranges from $800 to $2000. There are no work requirements and the grant has definitely reduced poverty and inequality of income. It has been very popular there and attempts to get rid of it have been defeated by a 4-1 majority.

So, that is more of a "dividend" based on oil production, but it is a sharing of the wealth of the state as an example. The Swiss proposed $2,800 per month not too long ago and I've seen estimates of $1,700 for the US.

This is an easy topic to jump the gun on because the questions include how to pay for it, (redirection of resources that then become unnecessary) and what impacts will it have on the incentive to fill jobs and work. One is financial, the other a matter of dealing with a bias that implies most people would remain idle. Those items need much discussion and some clarification.

There has been some interesting experimentation going on and we will be seeing more of that.

[PoliticAverse]

2. Suspiciously missing, the one minute math explanation of the cost. n/t

[Newest Reality]

3. Well, it is not so suspicious...

The estimations about the amount involved, (which has a context) is not the purpose of the post, really. So, perhaps that is jumping out a bit far in light of the content? Granted, this is not a very common subject in the media and in the U.S. especially.

However, if the topic interests you there is plenty of information on that question available. Not only is this not a new idea, it has some developed experiments and ideas about how to implement it.

Again, I may post more about the financial math involved in context with what country would be implementing it, but here is a little bit of an idea of amounts proposed. This is not a cut-and-dried movement and it is contingent on many factors that are being proposed and presented currently. Experiments in various villages, (in India) for instance, have proven to be successful and beneficial.

I have seen some intelligent proposals for the means to pay for it. Again, that is not the purpose of this post, but there are practical ideas for doing so in the US and other countries. Keep in mind that there are multiple factors to explore.

http://www.basicincome.org/news/2014/04/link-a-guaranteed-basic-income-cost-calculator-solving-poverty-in-america/

[Newest Reality]

5. Due to the uncommon nature of this subject,

where the first questions that come to one's mind are most likely, "how much?" Here is a good article that lays out some of the basic economic aspects of the idea with some pros and cons. There are more complex calculations and illustrations that, at least, lend some credibility to the viability of this solution. In context, we have the problem of rising productivity going hand-in-hand with increased automation to reckon with when it comes to growing poverty and future unemployment rates.

I think there is a void that is often overlooked regarding this subject. The funds that people get through this method does not simply vanish into thin air. It completes its cycle by being put back into the economy as it is spent on necessities and then some. Most of those who will benefit most from it will not likely be putting it away and sitting on the funds. It may have a huge positive benefit on the psychology and well-being of our society and will also give employers incentive to raise wages and improve working conditions. Hence, the idea will not be popular for those who benefit from low wages, etc. We should also see improvements in health and and far less violent crime and petty theft as a result.

http://www.businessinsider.com/giving-all-americans-a-basic-income-would-end-poverty-2013-11?op=1