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

[Darkwind]

When the government uses its sovereign right to issue currency directly into the productive economy (instead of bonds and other debt instruments), it stands to increase tax revenues enough to cover its direct spending.

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

"This is due to the “velocity of money” – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent. Thus one dollar of new GDP results in about 26 cents of increased tax revenue.

"Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

Actually, the people will consume goods and service with their UBI stipend which will increase GDP, right?

Wrong.

You do realize that there is always a loss in an enclosed system?

Actually, the people will consume goods and service with their UBI stipend which will increase GDP, right?

Wrong.

You do realize that there is always a loss in an enclosed system?

Closed Economies and Why They Don't Really Exist

"What Is a Closed Economy?
A closed economy is one that has no trade activity with outside economies.

"A closed economy is self-sufficient, which means no imports come into the country and no exports leave the country.

"The purpose of a closed economy is to provide domestic consumers with everything they need from within the country's borders."

What is a closed economy? Definition and meaning - Market Business News

Its more than just that, and the ponzi scheme you're promoting is just such a closed system. It relies upon government, on this case, the Fed Reserve, to print money out of thin air. Good for them, bad for the world.

Here is a crash course on the Fed.

 

[danielpalos]

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

unemployment compensation for simply being unemployed is better. equal protection of the law.

 

[danielpalos]

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."

Joe Rogan and Tulsi Gabbard - Universal Basic Income

We have laws. Equal protection of those laws is why we have Government.

 

[georgephillip]

I take it you are unfamiliar with debt. We can spend money we don't have but eventually it must stop.

When the government uses its sovereign right to issue currency directly into the productive economy (instead of bonds and other debt instruments), it stands to increase tax revenues enough to cover its direct spending.

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

"This is due to the “velocity of money” – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent. Thus one dollar of new GDP results in about 26 cents of increased tax revenue.

"Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

 

[danielpalos]

When the government uses its sovereign right to issue currency directly into the productive economy (instead of bonds and other debt instruments), it stands to increase tax revenues enough to cover its direct spending.

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

"This is due to the “velocity of money” – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent. Thus one dollar of new GDP results in about 26 cents of increased tax revenue.

"Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

Compensation for Capitalism's natural rate of unemployment would do something similar and solve for that economic phenomena.

 

[Darkwind]

When the government uses its sovereign right to issue currency directly into the productive economy (instead of bonds and other debt instruments), it stands to increase tax revenues enough to cover its direct spending.

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

"This is due to the “velocity of money” – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent. Thus one dollar of new GDP results in about 26 cents of increased tax revenue.

"Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

In reality, they won't get back a dime and will, in fact, strengthen the chains that already enslave all of us.

It is a ponzi scheme.

 

[danielpalos]

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

In reality, they won't get back a dime and will, in fact, strengthen the chains that already enslave all of us.

It is a ponzi scheme.

equal protection of the law is more important. and, unemployment compensation acts as an automatic stabilizer for our economy. the right wing likes to complain about socialism, but they already forgot our "great recession" due to social programs like unemployment compensation.

https://wdr.doleta.gov/research/FullText_Documents/ETAOP2010-10.pdf

 

[georgephillip]

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

Actually, the people will consume goods and service with their UBI stipend which will increase GDP, right?

Wrong.

You do realize that there is always a loss in an enclosed system?

Actually, the people will consume goods and service with their UBI stipend which will increase GDP, right?

Wrong.

You do realize that there is always a loss in an enclosed system?

Closed Economies and Why They Don't Really Exist

"What Is a Closed Economy?
A closed economy is one that has no trade activity with outside economies.

"A closed economy is self-sufficient, which means no imports come into the country and no exports leave the country.

"The purpose of a closed economy is to provide domestic consumers with everything they need from within the country's borders."

What is a closed economy? Definition and meaning - Market Business News

Its more than just that, and the ponzi scheme you're promoting is just such a closed system. It relies upon government, on this case, the Fed Reserve, to print money out of thin air. Good for them, bad for the world.

Here is a crash course on the Fed.

Its more than just that, and the ponzi scheme you're promoting is just such a closed system. It relies upon government, on this case, the Fed Reserve, to print money out of thin air. Good for them, bad for the world.

Here is a crash course on the Fed.

As your video points out, currently the Fed buys bonds (debt instruments) from the US Treasury. Another option would have the Treasury spend the dollars directly into the economy via UBI, for example.

Consumer debt is already too high, and debt-based dollars guarantee the magic of compound interest will make it impossible to ever become debt free.
https://seekingalpha.com/article/4196931-state-american-debt-slaves-q2-2018

 

[georgephillip]

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

Compensation for Capitalism's natural rate of unemployment would do something similar and solve for that economic phenomena.

Today's reserve army of labor

Monthly Review | Disposable Workers: Today’s Reserve Army of Labor

Compensation for Capitalism's natural rate of unemployment would do something similar and solve for that economic phenomena.

"But if a surplus labouring population is a necessary product of accumulation or of the development of wealth on a capitalist basis, this surplus-population becomes, conversely, the lever of capitalistic accumulation, nay, a condition of existence of the capitalist mode of production.

"It forms a disposable industrial reserve army, that belongs to capital quite as absolutely as if the latter had bred it at its own cost."

 

[danielpalos]

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

Compensation for Capitalism's natural rate of unemployment would do something similar and solve for that economic phenomena.

Today's reserve army of labor

Monthly Review | Disposable Workers: Today’s Reserve Army of Labor

Compensation for Capitalism's natural rate of unemployment would do something similar and solve for that economic phenomena.

"But if a surplus labouring population is a necessary product of accumulation or of the development of wealth on a capitalist basis, this surplus-population becomes, conversely, the lever of capitalistic accumulation, nay, a condition of existence of the capitalist mode of production.

"It forms a disposable industrial reserve army, that belongs to capital quite as absolutely as if the latter had bred it at its own cost."

Only Capital must circulate under Capitalism, not fools or horses.

 

[georgephillip]

What you are essentially cut and pasting is called trickle down economics. There are many that claim it does not work.

You have still not posted where you plan on getting this initial ubi. What happens when the economy crashes? How long do you need to fund this ubi before it can be self sustaining, if ever? What do we do about our existing debt and future debt until ubi pays for itself? How do we convince inflation to not outpace ubi? How do we convince people to actually find and hold a job instead of becoming dependent on ubi just as some have done with welfare?

You seemed to have missed the last line in your whole little post "in theory". Theory is great but seldom proves itself practical in real life. "In theory" the government could give each citizen a million dollars or a billion dollars but in reality it would not work.

He is saying, 'Just print the money' and then distibute it to the people. They will then return it at interest.

This is basically the fallacy of perpetual energy.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

I'll be he doesn't understand why it doesn't work.

Connect a generator to a battery source and use the battery source as an engine to power the generator.

Identify your terms.
To what specific aspect of an economy does "generator", "battery source", and "engine" correspond to?

It can refer to any closed system. The generator would be the government, the battery would be the people, the money the energy in the system.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

With each cycle, the energy becomes less and less. I give a dollar to the government, the government gives a dollar to someone else who then gives back a fraction in the form of taxes. Another dollar is given by someone else, the government hands it out to another who give back a fraction in taxes. In each transaction, the return is a fraction of the outlay.

Eventually it reduces to zero and the system collapses.

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

In reality, they won't get back a dime and will, in fact, strengthen the chains that already enslave all of us.

It is a ponzi scheme.

In reality, they won't get back a dime and will, in fact, strengthen the chains that already enslave all of us.

It is a ponzi scheme.

Even if you are correct, UBI is not the biggest Ponzi Scheme we have to worry about:
"How true is the statement that the stock market is essentially a Ponzi scheme?"

https://www.quora.com/How-true-is-the-statement-that-the-stock-market-is-essentially-a-Ponzi-scheme

"The answer is, YES. Most stocks in the stock market meet the SEC’s definition of a Ponzi scheme.

The fact is:

1. What makes a stock price move is not the earnings or growth of the underlying company, but the the exchange of money between investors. Profits from buying and selling stocks come from other investors who are buying and selling stocks. When one investor buys low and sells high, another investor is also buying high and needs to sell for even higher."

Home - The Ponzi Factor

 

[Wyatt earp]

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

and how do they get that money by taking from the rich and give to the poor?


or use the pipeline money??

lets see if you are smart enough to figure it out, I doubt it you think taxes and charity are the same thing.

 

[WheelieAddict]

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

and how do they get that money by taking from the rich and give to the poor?


or use the pipeline money??

lets see if you are smart enough to figure it out, I doubt it you think taxes and charity are the same thing.

Why do they get the pipeline money? Why is that a special case?

 

[danielpalos]

Why is the "wheel being re-invented"?

Equal protection of the law is a government obligation.

 

[Markle]

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

Please explain where that money is to come from if not the taxpayer.

Oh wait, here's the solution!

 

[dblack]

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

When since 1920 has $500 been an income?

And how is sending money to a select group "universal"?

 

[danielpalos]

We should be solving for capitalism's natural rate of unemployment in a market friendly manner.

 

[Picaro]

A basic income was first proposed by Milton Freedman and Patrick Moynihan. the difference now is some 140 million more people, mostly unproductive and uneducated, descended form illegal aliens and immigrants, and most productive jobs are now off-shored to foreign slave labor colonies, and most jobs left that used to pay anything are farmed out to green card holders or now don't pay a quarter of what they used to. Pharmacists are a good example; used to be a lucrative 6 figure career, now pays $35 K to maybe $50K a year at a Walgreens or Wally World, mostly Asians and Indians filling that career up, not even worth the student loan debt it takes for the schooling which effectively pays minimum wage adjusted for inflation.

 

[georgephillip]

If the government (not the taxpayer) supplies those dollars, "the money issued by the government will return to it simply by an increase in fiscal revenues generated by the UBI itself."

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

"This is due to the 'velocity of money' – the number of times a dollar is traded in a year, from farmer to grocer to landlord, etc.

"In a good economy, the velocity of the M1 money stock (coins, dollar bills, demand deposits and checkable deposits) is about seven; and each recipient will pay taxes on this same dollar as it changes hands.

"According to the Heritage Foundation, total tax revenue as a percentage of GDP is now 26 percent.

"Thus one dollar of new GDP results in about 26 cents of increased tax revenue. Assuming each of the seven trades is for taxable GDP, $1.00 changing hands seven times can increase tax revenue by $7.00 x 26 percent = $1.82.

"In theory, then, the government could get more back in taxes than it paid out."

Please explain where that money is to come from if not the taxpayer.

Oh wait, here's the solution!

Please explain where that money is to come from if not the taxpayer.

Oh wait, here's the solution!

How about Treasury printing a couple of platinum trillion dollar coins to create millions of living wage jobs?

Trillion dollar coin - Wikipedia

"Since the idea behind UBI is to meet every citizen’s basic needs, like housing and food, without discouraging work and industry, Stern’s plan would pay all 234 million American adults $1,000 a month, placing them at about the federal poverty line ($24,000 a year for a family of four)..."

"But how would we pay for this?

"$1,000 a month for everyone would cost approximately $2.7 trillion annually, which represents around four to five times the size of the defense budget and 15 percent of the GDP.

"In his book, Stern proposed paying for the $2.7 trillion as follows...."

• Cancel most existing antipoverty programs, which cost about $1 trillion a year, including food stamps ($76 billion a year), housing assistance ($49 billion), and the Earned Income Tax Credit ($82 billion)
• Cut military spending
• Phase out most tax expenditures (tax breaks), which currently cost $1.2 trillion a year
• Implement a federal sales tax and a financial transaction tax
• Establish a collective wealth fee and “Sky Trust” modeled after the highly successful Alaska Permanent Fund, which could pay a dividend of $5,000 per person annually

"Same Principle, Different Executions
Entitlements are often derided for their complexity, which is why the simplicity of UBI is so appealing to so many. One flat benefit for everyone, no questions asked, means very little bureaucracy or red tape. As more and more countries trial UBI programs, some of the concerns about the strategy may finally be put to bed."

Here’s How We Could Fund a UBI Program in the United States

 

[Markle]

How about Treasury printing a couple of platinum trillion dollar coins to create millions of living wage jobs?

Trillion dollar coin - Wikipedia

"Since the idea behind UBI is to meet every citizen’s basic needs, like housing and food, without discouraging work and industry, Stern’s plan would pay all 234 million American adults $1,000 a month, placing them at about the federal poverty line ($24,000 a year for a family of four)..."

"But how would we pay for this?

"$1,000 a month for everyone would cost approximately $2.7 trillion annually, which represents around four to five times the size of the defense budget and 15 percent of the GDP.

"In his book, Stern proposed paying for the $2.7 trillion as follows...."

• Cancel most existing antipoverty programs, which cost about $1 trillion a year, including food stamps ($76 billion a year), housing assistance ($49 billion), and the Earned Income Tax Credit ($82 billion)
• Cut military spending
• Phase out most tax expenditures (tax breaks), which currently cost $1.2 trillion a year
• Implement a federal sales tax and a financial transaction tax
• Establish a collective wealth fee and “Sky Trust” modeled after the highly successful Alaska Permanent Fund, which could pay a dividend of $5,000 per person annually

"Same Principle, Different Executions
Entitlements are often derided for their complexity, which is why the simplicity of UBI is so appealing to so many. One flat benefit for everyone, no questions asked, means very little bureaucracy or red tape. As more and more countries trial UBI programs, some of the concerns about the strategy may finally be put to bed."

Here’s How We Could Fund a UBI Program in the United States

You're being facetious...aren't you?

How would giving everyone $1,000. a month NOT just raise the bottom to $1,000 a month without making any other difference? More people would simply opt out of society and live off the backs of workers. How is that a good thing?

How would collecting trillions more in taxes benefit anyone?