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Post By
Upper_Krust

Member Since: Fri Aug 21, 2015
Posts: 127
In Reply To
Norvell

Member Since: Sun Jan 02, 2011
Posts: 1,585
Subj: Interesting topic...
Posted: Fri Dec 01, 2017 at 01:32:39 pm EST (Viewed 68 times)
Reply Subj: Thoughts on a minimum income? (Re: The Impending Tax Cut Vote)
Posted: Fri Dec 01, 2017 at 09:20:52 am EST (Viewed 83 times)



    Quote:
    If the Republicans skewed the tax cut heavily towards the middle class, away from the ultra-mega-rich, the Dems would have no choice but to support it. And whereas the rich sit on the money and/or divvy it up to share holders for them to sit on, the Middle Class actually spend and propel the economy.



    Quote:
    The benefit of putting money into the pockets of the poor / middle class cannot be understated. So much so that economic models have been suggested of guaranteeing a 20k/per year minimum allowance by the state -- per person -- would vastly solve many issues of poverty (eliminating welfare) while simultaneously stimulating the economy. I'm not on board with this theory, yet, but it's an interesting outside-the-box viewpoint that is actually being tested by some countries.



    Quote:
    http://www.cbc.ca/news/canada/guaranteed-20k-income-for-all-canadians-endorsed-by-academics-1.2691847


The guaranteed income is something I think will happen in 20-30 years when robots take away remaining manual labour jobs.

However, I think the problem that needs to be avoided is simply giving the income to those who don't work.

If people are given an income for doing no work that comes close to what people earn for doing low-paid/unskilled work then there will be zero incentive for those people to work at all.

So it seems to me that the only way it works is if the guaranteed income is given to absolutely everyone and then anyone who works/contributes to society is paid a wage IN ADDITION to the guaranteed income.

In effect it would legalize what we call here in the UK 'Doing the Double' where someone claims unemployment benefits but also works (without telling the taxman).


    Quote:
    Tax cuts for the rich have been tried repeatedly, and every time it's been tried it has failed. Even the so-called success of the Reagan tax cuts tripled the debt.


I remember looking into this about a year ago and finding too many conflicting viewpoints, but the bottom line is the disparity between rich and poor is growing; some of this is certainly due to population growth but clearly that doesn't explain the inequality.

I do know that the answer is NOT a minimum wage for workers, since companies circumnavigate that by offering less hours and stuff like that.




You address Omnipotence...tread carefully.
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