Will basic income become the califfornia norm town starts 500.00$ no string payments
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depotoo
Diamond Member
- Sep 9, 2012
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- 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.)
georgephillip
Diamond Member
Think about UBI in terms of net transfer:
Why we should all have a basic income
"What tends to go unrealized about the idea of basic income, and this is true even of many economists – but not all – is that it represents a net transfer.
"In the same way it does not cost $20 to give someone $20 in exchange for $10, it does not cost $3 trillion to give every adult citizen $12,000 and every child $4,000, when every household will be paying varying amounts of taxes in exchange for their UBI.
"Instead it will cost around 30% of that, or about $900 billion, and that’s before the full or partial consolidation of other programmes and tax credits immediately made redundant by the new transfer.
"In other words, for someone whose taxes go up $4,000 to pay for $12,000 in UBI, the cost to give that person UBI is $8,000, not $12,000, and it’s coming from someone else whose taxes went up $20,000 to pay for their own $12,000.
"However, even that’s not entirely accurate, because the consolidation of the safety net and tax code UBI allows could drive the total price even lower."
Harry Dresden
Only Adamantium Member
they also have 100 billion plus in unfunded pension liabilities.....you think that 10 will cover it?....
Mac1958
Diamond Member
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.
.
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.
.
MAGAman
Pro-American Patriot
Since when have you given $500/month to someone that refused to earn a living?
Crepitus
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Links or am I just supposed to assume you aren't making it up?
Crepitus
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Still waitin' fer that link....
Eric Arthur Blair
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Giving people money for doing nothing. What a brilliant concept. How could it possibly fail?
Harry Dresden
Only Adamantium Member
those links have been put up more than once in threads about California,including threads you have been in....here just for you again....
California faces a $1 trillion unfunded pension liability and lawmakers focus on foam and plastic straws – Orange County Register
Sales tax on your local ballot? California’s pension crisis may have nominated it
https://www.ppic.org/publication/public-pension-liabilities-in-california/
Democrats running for California governor need to stop talking about Trump and start talking about public pensions
Can California Save Itself From A Pension Disaster?
MAGAman
Pro-American Patriot
Children always love Santa Claus.
WheelieAddict
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So an annual stipend. Do you idiots really want argue over if it is a "dividend" or a stipend. Doesn't matter where it comes from. It is a basic income stipend.
Eric Arthur Blair
Diamond Member
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Yes, children are very bad providers though. California is what happens to a state when the grasshoppers take over and drive away all the ants.
Crepitus
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Nothing there is less than a year old and one is over 5. Gonna hafta do better than that.
Maxdeath
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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.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."
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.
Harry Dresden
Only Adamantium Member
and every one true....why dont you prove those articles wrong....you asked me for links,i gave them to you,now its your turn....prove those stories are false....
Crepitus
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They're old.
georgephillip
Diamond Member
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.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."
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.
Where are you getting your numbers?
Why we should all have a basic income
"What tends to go unrealized about the idea of basic income, and this is true even of many economists – but not all – is that it represents a net transfer.
"In the same way it does not cost $20 to give someone $20 in exchange for $10, it does not cost $3 trillion to give every adult citizen $12,000 and every child $4,000, when every household will be paying varying amounts of taxes in exchange for their UBI.
"Instead it will cost around 30% of that, or about $900 billion, and that’s before the full or partial consolidation of other programmes and tax credits immediately made redundant by the new transfer.
"In other words, for someone whose taxes go up $4,000 to pay for $12,000 in UBI, the cost to give that person UBI is $8,000, not $12,000, and it’s coming from someone else whose taxes went up $20,000 to pay for their own $12,000."
And we shouldn't forget the citizens (legal and natural) who pay NO taxes:
Amazon will pay $0 in federal taxes this year — and it's partially thanks to Trump
Maxdeath
Diamond Member
- Jun 12, 2018
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So basically you are saying that you think money falls out of the air. We just print more. If you give someone $10.00 you have to get that $10.00 from some where. The funny thing is there is no magic involved.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.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."
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.Where are you getting your numbers?
Why we should all have a basic income
"What tends to go unrealized about the idea of basic income, and this is true even of many economists – but not all – is that it represents a net transfer.
"In the same way it does not cost $20 to give someone $20 in exchange for $10, it does not cost $3 trillion to give every adult citizen $12,000 and every child $4,000, when every household will be paying varying amounts of taxes in exchange for their UBI.
"Instead it will cost around 30% of that, or about $900 billion, and that’s before the full or partial consolidation of other programmes and tax credits immediately made redundant by the new transfer.
"In other words, for someone whose taxes go up $4,000 to pay for $12,000 in UBI, the cost to give that person UBI is $8,000, not $12,000, and it’s coming from someone else whose taxes went up $20,000 to pay for their own $12,000."
And we shouldn't forget the citizens (legal and natural) who pay NO taxes:
Amazon will pay $0 in federal taxes this year — and it's partially thanks to Trump
You can not have something just show up. If I give you three rocks (I am keeping it simple for you) then you give one rock to each of three people and then they give you back only a portion of the rock you gave them. How long can you give each person a whole rock? It is a simple question, there is no hidden answer.
georgephillip
Diamond Member
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.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."
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.
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
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