Will basic income become the califfornia norm town starts 500.00$ no string payments

[percysunshine]

Looks like another fad to me.

https://nypost.com/2018/12/12/unicorn-that-poops-glitter-is-this-years-hot-holiday-toy/

 

[justoffal]

Alaska already has a form of basic income. You get a stipend.

Based on oil profits.

Jo

 

[georgephillip]

Wall of Debt - Unsustainable California
The picture is pretty until you turn it over and look from another angle.

Try looking from the angle of "onerous debt" and its public banking solution:

Solutions to State Debt Burden of California, It is Worth Considering in Your State!

"California cannot solve its budget problems by slashing services that have already been cut to the bone or raising sales taxes that hurt the poor far more than the rich.

"We are fighting over a pie that remains too small.

"The pie itself needs to be expanded – and it can be.

"How? By reclaiming that portion that is now siphoned off in interest and bank fees.

"When tallied up at every stage of production, interest has been calculated to claim one-third of everything we buy.

"How can that money be recaptured?

"By owning the bank.

"The approach was pioneered in North Dakota, the only state to escape the 2008 banking crisis. North Dakota has the lowest unemployment rate in the country, the lowest foreclosure rate, the lowest default rate on credit card debt, and no state debt at all. It is also the only state to own its own bank."

The problem isn't in California; it's on Wall Street.

 

[Eric Arthur Blair]

Sure California isn't doing anything wrong with their out of control public pension disaster. It's all those evil bank's fault!

Now, I'm not defending banks. Just laughing at the idea that California only has to own it's own bank and they can continue living in their fool's paradise. The Pension Fund That Ate California

It's quite a good joke.

 

[Rustic]

SACRAMENTO, Calif. - After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Will 'basic income' become the California norm? Town starts $500 no-strings payments



THESE STUPID ASSES ARE GOING TO GO BROKE SO FAST!! AND WE / THEY / TAX PAYERS ARE GOING TO BE THE ONES WHO PAY FOFR THIS SHIT SYSTEM!! OMFFG!!

Sooner or later you run out off other people's money bahhaha

Let crazy Cali do what they want... Their track record speaks for itself… Fail wash rinse repeat fail

 

[georgephillip]

Sure California isn't doing anything wrong with their out of control public pension disaster. It's all those evil bank's fault!

Now, I'm not defending banks. Just laughing at the idea that California only has to own it's own bank and they can continue living in their fool's paradise. The Pension Fund That Ate California

It's quite a good joke.

And Wall Street's laughing all the way to the bank:
Wall of Debt - Unsustainable California

"A growing Wall of Debt threatens the state’s ability to provide sufficient public services, which are a cornerstone for California citizens. The wall’s growth is unsustainable. The cost of maintaining too high of a wall manifests itself as higher taxes and service cuts for citizens, a prospect that is already a reality throughout the Golden State."
How Wall Street Drove Public Pensions Into Crisis and Pocketed Billions in Fees

"A 'Wall Street coup' — that’s how pension expert Edward 'Ted' Siedle describes it. Public pensions across the country now squander tens of billions of dollars each year on risky, often poor-performing alternative investments — money public pensions can ill afford to waste.

"For all the talk of insolvency, $4 trillion now sits in the coffers of the country’s public pensions.

"It’s a giant pile of money of intense interest to Wall Street — one generally overseen by boards stocked with laypeople, often political appointees. 'Time and again,' Siedle has written, 'hucksters successfully pull the wool over these boards’ eyes.'"

 

[depotoo]

SACRAMENTO, Calif. - After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Will 'basic income' become the California norm? Town starts $500 no-strings payments



THESE STUPID ASSES ARE GOING TO GO BROKE SO FAST!! AND WE / THEY / TAX PAYERS ARE GOING TO BE THE ONES WHO PAY FOFR THIS SHIT SYSTEM!! OMFFG!!

Sooner or later you run out off other people's money bahhaha

Last I heard California had a budget surplus in the $10 billion range. You got a link to them going broke?

• Cash solvency measures whether a state has enough cash to cover its short-term bills, which include accounts payable, vouchers, warrants, and short-term debt. (California ranks 45th.)
• Budget solvency measures whether a state can cover its fiscal year spending using current revenues. Did it run a shortfall during the year? (California ranks 17th.)
• Long-run solvency measures whether a state has a hedge against large long-term liabilities. Are enough assets available to cushion the state from potential shocks or long-term fiscal risks? (California ranks 45th.)
• Service-level solvency measures how high taxes, revenues, and spending are when compared to state personal income. Do states have enough “fiscal slack”? If spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? Is spending high or low relative to the tax base? (California ranks 28th.)
• Trust fund solvency measures how much debt a state has. How large are unfunded pension liabilities and OPEB liabilities compared to the state personal income? (California ranks 41st.)

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

 

[Crepitus]

SACRAMENTO, Calif. - After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Will 'basic income' become the California norm? Town starts $500 no-strings payments



THESE STUPID ASSES ARE GOING TO GO BROKE SO FAST!! AND WE / THEY / TAX PAYERS ARE GOING TO BE THE ONES WHO PAY FOFR THIS SHIT SYSTEM!! OMFFG!!

Sooner or later you run out off other people's money bahhaha

Last I heard California had a budget surplus in the $10 billion range. You got a link to them going broke?

• Cash solvency measures whether a state has enough cash to cover its short-term bills, which include accounts payable, vouchers, warrants, and short-term debt. (California ranks 45th.)
• Budget solvency measures whether a state can cover its fiscal year spending using current revenues. Did it run a shortfall during the year? (California ranks 17th.)
• Long-run solvency measures whether a state has a hedge against large long-term liabilities. Are enough assets available to cushion the state from potential shocks or long-term fiscal risks? (California ranks 45th.)
• Service-level solvency measures how high taxes, revenues, and spending are when compared to state personal income. Do states have enough “fiscal slack”? If spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? Is spending high or low relative to the tax base? (California ranks 28th.)
• Trust fund solvency measures how much debt a state has. How large are unfunded pension liabilities and OPEB liabilities compared to the state personal income? (California ranks 41st.)

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

They've got a pretty good chunk of it in the bank, and projections for more.

$30 billion in surplus.

Does California have a surplus of nearly ‘$30 billion'?

 

[depotoo]

SACRAMENTO, Calif. - After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Will 'basic income' become the California norm? Town starts $500 no-strings payments



THESE STUPID ASSES ARE GOING TO GO BROKE SO FAST!! AND WE / THEY / TAX PAYERS ARE GOING TO BE THE ONES WHO PAY FOFR THIS SHIT SYSTEM!! OMFFG!!

Sooner or later you run out off other people's money bahhaha

Last I heard California had a budget surplus in the $10 billion range. You got a link to them going broke?

• Cash solvency measures whether a state has enough cash to cover its short-term bills, which include accounts payable, vouchers, warrants, and short-term debt. (California ranks 45th.)
• Budget solvency measures whether a state can cover its fiscal year spending using current revenues. Did it run a shortfall during the year? (California ranks 17th.)
• Long-run solvency measures whether a state has a hedge against large long-term liabilities. Are enough assets available to cushion the state from potential shocks or long-term fiscal risks? (California ranks 45th.)
• Service-level solvency measures how high taxes, revenues, and spending are when compared to state personal income. Do states have enough “fiscal slack”? If spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? Is spending high or low relative to the tax base? (California ranks 28th.)
• Trust fund solvency measures how much debt a state has. How large are unfunded pension liabilities and OPEB liabilities compared to the state personal income? (California ranks 41st.)

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

They've got a pretty good chunk of it in the bank, and projections for more.

$30 billion in surplus.

Does California have a surplus of nearly ‘$30 billion'?

Keep fooling yourself.
First, it’s not $30 billion-
Governor Newsom Proposes 2019-20 "California For All" State BudgetSACRAMENTO — Governor Gavin Newsom submitted his 2019-20 "California for All" budget proposal to the Legislature today - a fiscal blueprint that builds a strong financial foundation by investing an unprecedented $13.6 billion in budget resiliency and paying down unfunded pensionliabilities.

Second, here is their unfounded pension liability in 2016-

Understanding California's public pension debt
This brings the public retirement debt to at least $366 billion.


2018
California faces a $1 trillion unfunded pension liability and lawmakers focus on foam and plastic straws – Orange County Register

 

[Maxdeath]

So where do you suggest that this monthly amount come from? Is it going to just magically appear? Do you suggest that we increase taxes to cover the amount. If so then not only do you have to tax a thousand a month but you also need to include the wages of those that are taking in and distributing this new found wealth. So you are talking giving someone $1,000.00 and taxing $1100.00 so a net loss.

Oh let me guess it is the old someone else will pay for my freebies. Yeah the usual stupid bull.

And as usual it may not have worked before but it will this time. Why do so many people always expect a diffrent result from the same input? If you throw a rock into the air, no matter how many times, it still falls down. It will never take flight.

And as usual it may not have worked before but it will this time. Why do so many people always expect a diffrent result from the same input? If you throw a rock into the air, no matter how many times, it still falls down. It will never take flight.

You're making a fatal mistake in reasoning if you are actually equating economics and physics Validation in a hard science like physics comes only through two primary forms, theorems and theories. Gravity is a legitimate theory because it has been confirmed through experiments and observations conducted across centuries. Economics rests on assumptions and not on theories or theorems.

What Makes A Good Model in Economics and Finance - ppt video online download

So you are hoping that someone will not notice that you are trying to somehow produce money that is not there? We are talking a fundamental principle in everything here. Given a finite number of objects you can not slit those objects indefinitely. They do not magically respawn.

I was using gravity as an example of a simple principle called stupidity. If you think that tossing a rock into the air somehow equates to economics you may need more help in fundamentals.

Does this mean those pesky telemarketers will go away...? ~S~

Five Millions Tons of Smoke in the Stratosphere | Nuclear Darkness & Nuclear Famine

"Following a war between India and Pakistan, in which 100 Hiroshima-size (15 kiloton) nuclear weapons are detonated in the large cities of these nations, 5 million tons of smoke is lofted high into the stratosphere and is quickly spread around the world.

"A smoke layer forms around both Hemispheres which will remain in place for many years to block sunlight from reaching the surface of the Earth.

"One year after the smoke injection there would be temperature drops of several degrees C within the grain-growing interiors of Eurasia and North America.

"There would be a corresponding shortening of growing seasons by up to 30 days and a 10% reduction in average global precipitation."

The safest continent on the planet will be the one that is the least inhabitable, Antarctica.

So you are hoping that someone will not notice that you are trying to somehow produce money that is not there? We are talking a fundamental principle in everything here. Given a finite number of objects you can not slit those objects indefinitely. They do not magically respawn.

It sounds like you are confusing a national economy capable of electronically creating its own sovereign currency with a household economy?

If so, you have a lot in common with your rocks.

How to Fund a Universal Basic Income Without Increasing Taxes or Inflation

"The other option is 'qualitative easing,' a form of central bank quantitative easing in which the money flows directly into the real economy rather than simply into banks.

"In Europe, politicians are taking another look at this once-derided 'helicopter money.'

"A UBI is being proposed as monetary policy that would stimulate productivity without increasing taxes.

"As Nobel prize-winning economist Joseph Stiglitz, former senior vice president of the World Bank, explains:

"'. . . [W]hen the government spends more and invests in the economy, that money circulates, and recirculates again and again. So not only does it create jobs once: the investment creates jobs multiple times.'

"'The result of that is that the economy grows by a multiple of the initial spending, and public finances turn out to be stronger: as the economy grows, fiscal revenues increase, and demands for the government to pay unemployment benefits, or fund social programmes to help the poor and needy, go down.'

"As tax revenues go up as a result of growth, and as these expenditures decrease, the government’s fiscal position strengthens.'"

You are doing a great job of cut and paste. To bad you do not understand anything you are posting.

You have yet to post where you are getting the initial investment. The increase in taxes on increased spending will not compensate for the full universal income payments. Yes paying unemployment and other items will go down because it can be reduced by the amount of the income being given by ubi.

We can postulate a world where elephants fly, six equals four, people are self motivated and always good and debt does not matter. BUT in the world that we actually live in none of that is true.

You have yet to post where you are getting the initial investment. The increase in taxes on increased spending will not compensate for the full universal income payments. Yes paying unemployment and other items will go down because it can be reduced by the amount of the income being given by ubi.

The initial investment could come from the Fed and/or Treasury just as it did for Wall Street's benefit a decade ago:

Universal Basic Income Is Easier Than It Looks

"The Federal Reserve alone could do the job.

"It could buy 'Green' federal bonds with money created on its balance sheet, just as the Fed funded the purchase of $3.7 trillion in bonds in its 'quantitative easing' program to save the banks.

"The Treasury could also do it.

"The Treasury has the constitutional power to issue coins in any denomination, even trillion dollar coins."

So in other words we just print the money which in essence devalues the dollar worldwide.

So we might as well just go whole hog and start throwing our money in the toilet now and save time and energy.

 

[Harry Dresden]

SACRAMENTO, Calif. - After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Will 'basic income' become the California norm? Town starts $500 no-strings payments



THESE STUPID ASSES ARE GOING TO GO BROKE SO FAST!! AND WE / THEY / TAX PAYERS ARE GOING TO BE THE ONES WHO PAY FOFR THIS SHIT SYSTEM!! OMFFG!!

Sooner or later you run out off other people's money bahhaha

Last I heard California had a budget surplus in the $10 billion range. You got a link to them going broke?

• Cash solvency measures whether a state has enough cash to cover its short-term bills, which include accounts payable, vouchers, warrants, and short-term debt. (California ranks 45th.)
• Budget solvency measures whether a state can cover its fiscal year spending using current revenues. Did it run a shortfall during the year? (California ranks 17th.)
• Long-run solvency measures whether a state has a hedge against large long-term liabilities. Are enough assets available to cushion the state from potential shocks or long-term fiscal risks? (California ranks 45th.)
• Service-level solvency measures how high taxes, revenues, and spending are when compared to state personal income. Do states have enough “fiscal slack”? If spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? Is spending high or low relative to the tax base? (California ranks 28th.)
• Trust fund solvency measures how much debt a state has. How large are unfunded pension liabilities and OPEB liabilities compared to the state personal income? (California ranks 41st.)

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

They've got a pretty good chunk of it in the bank, and projections for more.

$30 billion in surplus.

Does California have a surplus of nearly ‘$30 billion'?

hey crep how come i saw no links from you proving my links wrong earlier?.....could not find any?....

 

[Crepitus]

Last I heard California had a budget surplus in the $10 billion range. You got a link to them going broke?

• Cash solvency measures whether a state has enough cash to cover its short-term bills, which include accounts payable, vouchers, warrants, and short-term debt. (California ranks 45th.)
• Budget solvency measures whether a state can cover its fiscal year spending using current revenues. Did it run a shortfall during the year? (California ranks 17th.)
• Long-run solvency measures whether a state has a hedge against large long-term liabilities. Are enough assets available to cushion the state from potential shocks or long-term fiscal risks? (California ranks 45th.)
• Service-level solvency measures how high taxes, revenues, and spending are when compared to state personal income. Do states have enough “fiscal slack”? If spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? Is spending high or low relative to the tax base? (California ranks 28th.)
• Trust fund solvency measures how much debt a state has. How large are unfunded pension liabilities and OPEB liabilities compared to the state personal income? (California ranks 41st.)

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

They've got a pretty good chunk of it in the bank, and projections for more.

$30 billion in surplus.

Does California have a surplus of nearly ‘$30 billion'?

hey crep how come i saw no links from you proving my links wrong earlier?.....could not find any?....

I can't find any recent links one way or the other, but I provided link to a $30 billion surplus for this year and projected surpluses in the billions for coming years. If they have unfunded debt they can't really have anything considered a surplus as far as I know.

 

[Harry Dresden]

• Cash solvency measures whether a state has enough cash to cover its short-term bills, which include accounts payable, vouchers, warrants, and short-term debt. (California ranks 45th.)
• Budget solvency measures whether a state can cover its fiscal year spending using current revenues. Did it run a shortfall during the year? (California ranks 17th.)
• Long-run solvency measures whether a state has a hedge against large long-term liabilities. Are enough assets available to cushion the state from potential shocks or long-term fiscal risks? (California ranks 45th.)
• Service-level solvency measures how high taxes, revenues, and spending are when compared to state personal income. Do states have enough “fiscal slack”? If spending commitments demand more revenues, are states in a good position to increase taxes without harming the economy? Is spending high or low relative to the tax base? (California ranks 28th.)
• Trust fund solvency measures how much debt a state has. How large are unfunded pension liabilities and OPEB liabilities compared to the state personal income? (California ranks 41st.)

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

They've got a pretty good chunk of it in the bank, and projections for more.

$30 billion in surplus.

Does California have a surplus of nearly ‘$30 billion'?

hey crep how come i saw no links from you proving my links wrong earlier?.....could not find any?....

I can't find any recent links one way or the other, but I provided link to a $30 billion surplus for this year and projected surpluses in the billions for coming years. If they have unfunded debt they can't really have anything considered a surplus as far as I know.

well in my 50 years of living there one thing i found out about Sacramento is ....they will spend that money foolishly......

 

[Crepitus]

Links or am I just supposed to assume you aren't making it up?

A link won’t convince you of anything, but here it is
#42 | Ranking the States by Fiscal Condition: California

They've got a pretty good chunk of it in the bank, and projections for more.

$30 billion in surplus.

Does California have a surplus of nearly ‘$30 billion'?

hey crep how come i saw no links from you proving my links wrong earlier?.....could not find any?....

I can't find any recent links one way or the other, but I provided link to a $30 billion surplus for this year and projected surpluses in the billions for coming years. If they have unfunded debt they can't really have anything considered a surplus as far as I know.

well in my 50 years of living there one thing i found out about Sacramento is ....they will spend that money foolishly......

It's a government, so that's a given.

 

[Markle]

SACRAMENTO, Calif. - After months of planning, Stockton, Calif., is sending debit cards loaded with $500 to a select group of residents starting Friday as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Will 'basic income' become the California norm? Town starts $500 no-strings payments

THESE STUPID ASSES ARE GOING TO GO BROKE SO FAST!! AND WE / THEY / TAX PAYERS ARE GOING TO BE THE ONES WHO PAY FOFR THIS SHIT SYSTEM!! OMFFG!!

Sooner or later you run out off other people's money bahhaha

California is already so broke they can't even see daylight!

 

[Markle]

All of the money is going to be spent on weed.

That doesn't buy a lot of weed.

More than they had the day before!

 

[Markle]

Last I heard California had a budget surplus in the $10 billion range. You got a link to them going broke?

Yeah, like you, California refuses to see the future and their fact that the $10 billion you allege, is not a light at the end of their tunnel, but a FREIGHT TRAIN!

 

[Deplorable Yankee]

globalist progressives are moving forward with great hope for the day when everyone gets a check each according to his needs of course .
after some broken eggs and a few omelette's and the progressive Marxist utopia is finally achieved paychecks will be denominated with the border less worlds new single currency.....

that would be fairy dust

the really good news all checks will be delivered by happy unicorns that have very cuddly arms





i dont really know what to call it now and should probably shoot it

 

[Markle]

They could do it the easy and more cost effective way and just look at Finland. They tried it and dropped it. But as in all things there is always hope that doing the same thing over and over will have a different result.

Finland doesn't have the same economy (or population) as the US. Basic Income has the potential to reverse many of the negative economic trends we've seen over the past five decades.

Why we should all have a basic income

"Consider for a moment that from this day forward, on the first day of every month, around $1,000 is deposited into your bank account – because you are a citizen.

"This income is independent of every other source of income and guarantees you a monthly starting salary above the poverty line for the rest of your life...."

"'Basic income' would be an amount sufficient to secure basic needs as a permanent earnings floor no one could fall beneath, and would replace many of today’s temporary benefits, which are given only in case of emergency, and/or only to those who successfully pass the applied qualification tests.

"UBI would be a promise of equal opportunity, not equal outcome, a new starting line set above the poverty line."

I can only presume you are joking! Or...you are a joke.

 

[Markle]

California is a great Petri dish. They're going to find out if they can keep the highest-earning taxpayers while raising the safety net.

As long as the state can continue to keep and attract the earners, it'll work. If they cross a line, though....

We don't know where that line is, yet.
.

High earners and companies are leaving California in droves!