How do you feel about Andrew Yang's UBI of 1,000 a month for every US Adult

[Daelak]

And we've seen the ramifications of heavy leverage in such circumstances.

Now, if we are going by what Theo decreees... apply that 200+ million people. This is a society that cannot even stop using credit cards, and she wants to give them the power to simply wipe away debt and grow wealth on a whim.

This goes way beyond the realm of "fiat currency" and is simply saying that wealth is simply in the eye of the beholder.

Well the ramifications of it can be seen everyday, since all developed economies base their banking this way to disseminate to the public at large, and the federal funds rate (US) is set by the Federal Reserve, similar to the Central Banks in Europe.

The hypothesis of UBI is that a monthly payment of some number to all adults in the US would be less of a cost than the bureaucratic burdens the myriad of social programs all developed countries have. That is a wildly unknown number, but I guarantee you the stimulative effect on the economy would be incredible. Think of the tens of millions of US working class consumers. That may account for two maybe three percent annualized GDP growth on its own.

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Not just the nature of fractional reserve banking, but just the endless studies that show that no loan officer bases their decision to grant a loan based on if the bank actually has that much money. Heck I favor debt cancellation also on the pure ground that in almost every case the creditor didn't even have the money to give out in the first place so that money wasn't even theirs IMHO, and the morality of them demanding to be paid back at interest on money they just conjured out of nothing is absolutely wrong and shouldn't exist.

Well, that already exists through the FDIC and FCUDIC programs that protect depositors from a bank's insolvency.

[Theodarzna]

Well, that already exists through the FDIC and FCUDIC programs that protect depositors from a bank's insolvency.

True True. I think a lot of peoples imagination when it comes to "How do you pay for it" is limited by lack of knowledge about just how artificial and fake money creation is. If more people knew exactly how money really is just conjured out of thin air than it would clear the psychic mental space of peoples minds of all these dumb nostrums installed by some Capitalist mind virus IMHO.

[Machismo]

Well the ramifications of it can be seen everyday, since all developed economies base their banking this way to disseminate to the public at large, and the federal funds rate (US) is set by the Federal Reserve, similar to the Central Banks in Europe.

The hypothesis of UBI is that a monthly payment of some number to all adults in the US would be less of a cost than the bureaucratic burdens the myriad of social programs all developed countries have. That is a wildly unknown number, but I guarantee you the stimulative effect on the economy would be incredible. Think of the tens of millions of US working class consumers. That may account for two maybe three percent annualized GDP growth on its own.

Here's the problem with implementing new forms of welfare (which is exactly what this is). The old welfare doesn't go away. People would still demand food stamps, housing assistance, farm aid, veterans' benefits, Medicare, Medicaid, Social Security, and a host of other programs. If this would go through, that's $12k a year for just over 200 million people (in theory). How much of those programs would be able to be fully discarded to make room for the new welfare. Sure, if you get rid of Medicare, Medicaid, and Social Security, you just might be able to pay for it. Of course, that may piss off a few people.

So, whatever shortfall in revenue will have to be gained in some other manner. Either that, or just print off a shit ton of money every year, which we already know will be an utter disaster.

[Cizr]

No, stealing from people and giving it to other people somehow feels wrong.

[Adam Jensen]

And how the hell does one plan on peaceful wealth redistribution. Whenever someone posts bullshit like that, I have but one question:

What if they resist?

Through this thing called taxes. If they don't pay then arrest, due process, etc, etc.

[Shadowferal]

I have no problems with "stealing" from the wealthy.
And they won't miss what will keep me alive for the rest of my life.

[Moadar]

I have no problems with "stealing" from the wealthy.
And they won't miss what will keep me alive for the rest of my life.

I dont either but I'd feel better about it if it was done with armed mobs than the government doing it.

[PC2]

I dont either but I'd feel better about it if it was done with armed mobs than the government doing it.

So armed violence is okay if it's done to people you don't like. If it's done to you then I'm sure you'd see a problem with it.

[Shadowferal]

The tiny population wouldn't be the concern.
The majority population in the tens of millions however would be terrifying. (Something the 1% still can't quite grasp)

[Moadar]

So armed violence is okay if it's done to people you don't like. If it's done to you then I'm sure you'd see a problem with it.

Well ya that's usually how things work.

[Jeezy911]

This is a real tweet and it's fucking hilarious. It's basically like saying why don't we just print more money?

[Shadowferal]

This is a real tweet and it's fucking hilarious. It's basically like saying why don't we just print more money?

Apparently English isn't your first language.

[PC2]

Well ya that's usually how things work.

Armed mob violence is wrong, stop trying to make excuses for criminal behavior...

[Moadar]

Armed mob violence is wrong, stop trying to make excuses for criminal behavior...

Depends on who the violence is against.

[Sorshen]

No, stealing from people and giving it to other people somehow feels wrong.

As opposed to stealing from people and giving it to billionaires/corporate friends/Israel/military industrial complex/etc...

[PC2]

Why is there so many violence lovers online today... It's 2019 and some people still don't know it's bad.

[Shadowferal]

It's just a matter of time before people realize why the guillotine was such a hit in France.

[Cizr]

As opposed to stealing from people and giving it to billionaires/corporate friends/Israel/military industrial complex/etc...

Taxation is theft. More taxes is bad.

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It's just a matter of time before people realize why the guillotine was such a hit in France.

Do you remember what was fate of most radical guillotine supporters ?

[Jonnusthegreat]

I think 1,000 is too high.

[Shadowferal]

Taxation is theft.

Neither the US Constitution nor the Supreme Court agree with you.
Let me guess; you're the libertarian of the anti-government flavor?

Do you remember what was fate of most radical guillotine supporters ?

"S'okay.
This is America.