Universal Basic Income: Biden's Best Bet?

[Orangecat]

Parler misses you.

Parler is a website, it does not have the emotional capacity to miss a person.

 

[Wyatt earp]

You can confuse the fuck out of him, it works

 

[Orangecat]

You are simply clueless and Causeless like any typical right winger.

You're projecting again.

 

[Orangecat]

So what. Inflation happens, Regardless of labor costs.

It happens to a greater degree when the cost of labor is artificially inflated. Think.

 

[Orangecat]

This is how serious the right wing is about the general welfare. They take more interest in the general warfare on a for-profit basis.

As if you care about anything except getting the government to redistribute other people's tax money to you.

 

[georgephillip]

There have already been proposals along these lines from Democrats like Kamala Harris.

Harris seems like a longshot to get behind UBI, but she has offered some Covid-19 relief modeled on guaranteed income:

S.3784 - 116th Congress (2019-2020): Monthly Economic Crisis Support Act.

"Shown Here:
Introduced in Senate (05/20/2020)
Monthly Economic Crisis Support Act

"This bill provides for a monthly rebate to individuals and their dependents for the period beginning March 2020, and ending on the third month after the date on which the Department of Health and Human Services determines that the COVID-19 (i.e., coronavirus disease 2019) public health emergency has ended.

"The rebate is $2,000 per individual ($4,000 for individuals filing a joint tax return) plus $2,000 for each dependent of such individual, not exceeding three dependents.

"The rebate is reduced for individuals whose adjusted gross income exceeds specified levels.

"Rebates are not subject to garnishment or set offs by financial institutions"

 

[georgephillip]

Almost everyone's aware of Alaska's Permanent Fund:

"...The program began in 1976 after the discovery of oil on Alaska’s North Slope.

"The then-governor, a renegade Republican named Jay Hammond, concluded that this windfall was too good to just give to the oil companies.

"So he devised the program to share the revenue with Alaska residents...."

"OK, here’s the idea for President-elect Biden:

"Bring 20 of the Trumpiest-looking Alaskans to a press conference.

"Unveil a plan whereby every man, woman, and child gets a $1,000 check every month from the government.

"Finance it with taxes on large wealth, fossil fuels, financial transactions, and intellectual property resulting from taxpayer-funded public research.

"Invite the Alaskans to describe the joy of getting their checks: no middleman, no means tests, no government forms to fill out—just free money as everyone’s share of the American commons.

"Dare Mitch McConnell to oppose it."

A Big, Simple, Winning Issue for Biden

The "American commons" are the cultural and natural resources accessible to all members of society. In a time when the privileged few expand their vast fortunes despite a global pandemic and recession, it seems fitting to socialize the profits and privatize the losses.

Does anyone believe "Delaware Joe" will turn on his corporate benefactors?

You are a self-described loser that never made more then minimum wage until your got in SSN. Other then the word loser those were your words not mine.
You very much are a bottom feeder that did little then take from society and not give back.

 

[georgephillip]

328 million Americans * $1,000/month = $328 billion/month.
$328 billion/month * 12 months = $3.9 trillion/year.

Think of the multiplier effect.
How much is the Fed's current contribution to Wall Street's UBI?

$9 Trillion in Stimulus Injections: The Fed’s 2020 Pump Eclipses Two Centuries of USD Creation | Economics Bitcoin News

"Since September 2019, research shows the Federal Reserve has pumped over $9 trillion to primary dealers by leveraging enormous emergency repo operations.

"A recently published investigative report shows the U.S. central bank submits the daily loan tally, but the Fed will not provide the public with information concerning the recipients.

"Estimates say, in 2020 alone, the U.S. has created 22% of all the USD issued since the birth of the nation."

 

[georgephillip]

Almost everyone's aware of Alaska's Permanent Fund:

"...The program began in 1976 after the discovery of oil on Alaska’s North Slope.

"The then-governor, a renegade Republican named Jay Hammond, concluded that this windfall was too good to just give to the oil companies.

"So he devised the program to share the revenue with Alaska residents...."

"OK, here’s the idea for President-elect Biden:

"Bring 20 of the Trumpiest-looking Alaskans to a press conference.

"Unveil a plan whereby every man, woman, and child gets a $1,000 check every month from the government.

"Finance it with taxes on large wealth, fossil fuels, financial transactions, and intellectual property resulting from taxpayer-funded public research.

"Invite the Alaskans to describe the joy of getting their checks: no middleman, no means tests, no government forms to fill out—just free money as everyone’s share of the American commons.

"Dare Mitch McConnell to oppose it."

A Big, Simple, Winning Issue for Biden

The "American commons" are the cultural and natural resources accessible to all members of society. In a time when the privileged few expand their vast fortunes despite a global pandemic and recession, it seems fitting to socialize the profits and privatize the losses.

Does anyone believe "Delaware Joe" will turn on his corporate benefactors?

There have already been proposals along these lines from Democrats like Kamala Harris.

Personally I think they are a great idea. This is America, the richest, best country in the world. We should have no one living in poverty here.

we dont have anyone living in poverty by world standards,,,

we dont have anyone living in poverty by world standards,,,

I've lived under a bridge for months at a time but never inside a bridge. Amassing all the small truths about various aspects and parts of society can never reveal the big truths about the social order itself; a single human being sheltering beneath a metro rail line is one among 66,000 people in LA county currently experiencing homeless, a 12.7% increase from last year's point-in-time count. (June 2020). The MAGA-virus is likely to increase those numbers substantially next winter.

 

[georgephillip]

We don't or should not have have a supply problem with supply side economics; we only have a demand problem, which solving for simple poverty can solve.

Aggregate demand is being constricted (strangled) by debt in the Land of the Free (Market):

Neofeudalism and the Parasite Economy — Summarizing Michael Hudson

"There are two economies, the 'real' economy and the rentier/parasite economy.

• "The real economy consists of activity that actually contributes to society (eg. farming, manufacturing, healthcare)
• The parasite economy extracts wealth away from the real economy, adding unnecessary overhead to and shrinking the real economy. This is comprised of the FIRE sector (Finance, Insurance, Real Estate), monopolies, etc.

"43% of income goes to mortgage debt service in America. 10–15% go to healthcare. Student loans are another 5–30%, then there’s automobile debt, 10–20% going to taxes, etc.

"This means that over 2/3 of one’s income is siphoned off to the parasite overlords.

"This shrinks the real economy, forcing it into greater austerity and debt while the rentier sector enjoys the gains."

 

[georgephillip]

That idea is so stupid biden probably would agree to it if he ever becomes president

"No evidence of voter fraud."

 

[22lcidw]

Employment is at the will of either party.

How so?

Employers do not have to hire me even in Right to Work States.

Of course they don't. Employers are not required to hire anyone, much less whiny dickbags like yourself.

Employment is at-will. I automatically qualify for unemployment compensation.

So if everyone under the equal protections laws automatically qualify for unemployment compensation, why should anyone work?

Capitalism, what is That sayeth the Right Wing every time it comes up.

Shut up faggot

I gainsay your contention, want to argue about it?

You babble senseless bullshit. Biden is not the chief magistrate of anything.

You are simply clueless and Causeless like any typical right winger.

Shut up faggot

Parler misses you.

Quit ruining threads you little faggot and my space misses you.

Nothing but right wing Hoax is all you have.

Hey Danny faggot my left nut can break a peanut

This is how serious the right wing is about the general welfare. They take more interest in the general warfare on a for-profit basis.

Whoopie Goldberg had several abortions. What is compassion and what is being a slut that has had success as being privileged? And then what avenue of broadcasting shill does someone become a spokesperson for a movement that is insane? We all pay for it. And we call it freedom. It is not when someone else pays the tab. The inner city has been doing this for over 60 years with the great society. Trillions and trillions and trillions more spent.

 

[hadit]

Equal protection of the law for unemployment compensation in our at-will employment States could be accomplished by executive order.

Automatic stabilization of our economy now!

How can we have unused productive capacity and mass unemployment at the same time?

What Is the Output Gap? - Back to Basics - Finance & Development, September 2013

"The output gap is an economic measure of the difference between the actual output of an economy and its potential output.

"Potential output is the maximum amount of goods and services an economy can turn out when it is most efficient—that is, at full capacity.

"Often, potential output is referred to as the production capacity of the economy."

We don't or should not have have a supply problem with supply side economics; we only have a demand problem, which solving for simple poverty can solve.

So that would be 1000 dollars times 12 time 350 million a year. That equals 4 trillion and 200 billion dollars a year. So all those tax increases that is proposed. What would the lower classes be on the hook for? That may destabilize the economy. The increases in prices of everything may be very high inflation to hyper inflation. I am not an economist though.

Inflation should not be a problem with supply side economics. That is why we need to increase the minimum wage so capitalists can automate for their bottom line.

Taxation is just not the Federal Wage Income Tax and the social Security/Medicare Tax. There are many taxes and many hidden ones. they add up. That is part of what make people who earn the minimum salaries tough. Those taxes and fees are embedded in everything we do. Its like a cycle that has to keep pushing the wage up as the taxes increase and the inflation rises. We do not even get the official amount of money in circulation anymore from the government as they are printing it up to keep the system solvent.

Higher paid labor creates more in demand and generates more in tax revenue. A positive multiplier applies.

So let's lay off everyone who earns less than $50/hr. That'll work wonders.

Your idea not mine; why don't You, take point on it?

I'm illustrating your absurdity by being absurd. You're enamored with paying everyone more so they pay more in taxes, I'm just pointing out that it comes at a price, something you won't acknowledge. And guess who would be hit the hardest by the lack of jobs when we double the MW overnight?

Young, unskilled, uneducated black men, that's who would be hit the hardest. Did you realize that you would be doing that?

Full employment is too difficult a concept for the right wing?

Do you really believe that making labor more expensive will result in more jobs being available? Because if you do, you're even loonier than I thought.

 

[hadit]

Promote and provide for the general welfare of the People!

Yet you want individual welfare provided. Do you understand words?

You only have fallacy (of argumentum ad hominem) not any valid arguments. Your "gospel Truth" is not here but there.

Faggot

Parler misses you.

Are you still posting over there? You do know you're not supposed to talk about other boards while on this one, right?

 

[hadit]

328 million Americans * $1,000/month = $328 billion/month.
$328 billion/month * 12 months = $3.9 trillion/year.

Think of the multiplier effect.
How much is the Fed's current contribution to Wall Street's UBI?

$9 Trillion in Stimulus Injections: The Fed’s 2020 Pump Eclipses Two Centuries of USD Creation | Economics Bitcoin News

"Since September 2019, research shows the Federal Reserve has pumped over $9 trillion to primary dealers by leveraging enormous emergency repo operations.

"A recently published investigative report shows the U.S. central bank submits the daily loan tally, but the Fed will not provide the public with information concerning the recipients.

"Estimates say, in 2020 alone, the U.S. has created 22% of all the USD issued since the birth of the nation."

Think of the opportunity cost of taking an additional 4 trillion out of the economy.

 

[georgephillip]

I'd bet the cost of living in Alaska went up by $1000 per month right after this program started.

That hasn't been the case according to this source:
I think inflation results when too many dollars chase too few goods; UBI dollars would be spent freely into local economies at a time when they are desperately needed.

Evidence and More Evidence of the Effect on Inflation of Free Money

"If inflation is a direct result of giving free money to everyone, we should see the CPI of Alaska begin to rise faster than the CPI of the rest of the country starting in 1982.

"So what did happen?

"Ever since 1982 Alaska has had LOWER inflation than the entire U.S."

 

[georgephillip]

What if someone doesnt want to work, but still wants the basic income? Why should other people work then?

What about those whose work goes without a compensation?

https://www.nytimes.com/interactive/2020/03/04/opinion/women-unpaid-labor.html

"Women’s Unpaid Labor is Worth $10,900,000,000,000"

 

[georgephillip]

They want to give free college, but why go to college if you get a basic income, sounds like a waste of time to get educated for nothing.....

I don't think many Americans would be content to live on their UBI stipend. Such a supplement might prevent a few medical bankruptcies, but I doubt if it produces a new US leisure class.

As far as education's concerned, understanding the world you live in has a value that far exceeds how much money you can exchange for your daily toil.

 

[georgephillip]

Not gonna happen. Ds will more than likely lose the house in 2022. Nothing's going through the senate.

You're assuming Republicans win both Georgia Senate seats?
I think you are probably correct about '22 Dems, especially if Biden doesn't prosecute Trump to the full extent of the law.

 

[georgephillip]

$1000 per month to every child?

Would a thousand dollars a month to every US household change your mind?