Austin approves guaranteed income program, first in Texas

[justabubba]

Not everyone gets the same thing in SS. It's a factor of how long and how much you've put in. I personally would much rather of had the money I've put in over the years working for me rather than the pittance I'm likely to receive. UBI is just gifting money to the masses.


No idea. But if all these families are concentrated in one area then yes, it could have an impact on pricing.

your assumption is that the income from such a program would be identical for every recipient
i don't see that as being possible or practical
that single mom with 4 kids is likely going to need more than a single man with no dependents

but you dodged my question
we have a universal income program for those who have lived long enough to be a senior citizen
you insisted a universal income program would skew markets and i challenged you to identify how the social security program has disrupted markets
if you are unable to identify how social security has impacted markets then it is doubtful that a universal income program would do so

 

[cpwill]

milton friedman agrees:

While similar, there is, I think, an important difference between a UBI and a NIT - the NIT can require work in order to access it, and is gradiated, whereas a Universal Basic Income is.... universal, and immediate.

 

[cpwill]

we have a universal income program for those who have lived long enough to be a senior citizen

......I do not think that holds up, entirely. If you are a senior citizen who has never had earned income, and who is not and has not been married to someone who has had earned income, that paid into Social Security, you get nothing.

I"m also not aware of UBI being gradiated like OASDI is, either, as OASDI gives more to those who have earned more, and less to those who have greater need.

you insisted a universal income program would skew markets and i challenged you to identify how the social security program has disrupted markets

It crowds out private savings and investment, which produces far better returns (we see the same evidence overseas).


Additionally, a Pay-Go system that requires expensive investment now in raising enough children to keep the system going.... but which allows anyone to avoid the costs of ensuring the system's survival while maximizing current gain creates a free rider problem. And, as socialized Pay-Go systems have come into been put in place across the west, we have seen birth rates decline as a result. That's not to say that this is the primary driver - but it is a driver.

 

[Artymoon]

your assumption is that the income from such a program would be identical for every recipient
i don't see that as being possible or practical
that single mom with 4 kids is likely going to need more than a single man with no dependents

but you dodged my question
we have a universal income program for those who have lived long enough to be a senior citizen
you insisted a universal income program would skew markets and i challenged you to identify how the social security program has disrupted markets
if you are unable to identify how social security has impacted markets then it is doubtful that a universal income program would do so

It's not my assumption. In this case in Austin, every recipient is getting exactly the same amount. If you don't see that as practical, then welcome to the side that thinks UBI is a crock.

SS is not UBI. You don't get SS if you didn't pay in. Also, the more you pay into, the more benefit you receive at a later date. UBI in this topic is getting something for nothing. A 1000 people receiving SS will be at different rates - much like people having different incomes. A 1000 people receiving UBI will all be getting the same amount. Will that affect pricing for things such as rent, goods and services? If all are concentrated in one geographical area it certainly could.

 

[justabubba]

It's not my assumption. In this case in Austin, every recipient is getting exactly the same amount. If you don't see that as practical, then welcome to the side that thinks UBI is a crock.

SS is not UBI. You don't get SS if you didn't pay in. Also, the more you pay into, the more benefit you receive at a later date. UBI in this topic is getting something for nothing. A 1000 people receiving SS will be at different rates - much like people having different incomes. A 1000 people receiving UBI will all be getting the same amount. Will that affect pricing for things such as rent, goods and services? If all are concentrated in one geographical area it certainly could.

You are correct this prototype UBI in Austin does offer a specific stipend to all participants
But as a prototype, I believe they are looking at how the money will be spent, rather than how much money is needed to be spent
As was mentioned in my prior post, different families have different circumstances, and thus have different financial needs
Our nation’s history of providing welfare assistance recognized that reality
As an aside, there are many, many people who receive mailbox money from the Social Security administration who have never worked a day in their life, nor contributed to the general fund allocated for such payments