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The Push for Basic Income
https://mail.chicagofanatics.com/viewtopic.php?f=47&t=100179		 Page 1 of 1
Author:  WaitingforRuffcorn [ Thu May 05, 2016 8:28 am ]
Post subject:  The Push for Basic Income
Been hearing about this for awhile, and it is becoming more mainstream. A basic income for everyone.

http://fivethirtyeight.com/features/cou ... ideo-chat/

http://www.forbes.com/sites/laurengensl ... db861d4e15
Author:  JORR [ Thu May 05, 2016 8:30 am ]
Post subject:  Re: The Push for Basic Income
I support it as long as they're drug tested.
Author:  Sir Loin Of Beef [ Thu May 05, 2016 8:37 am ]
Post subject:  Re: The Push for Basic Income
You want to drug test the entire country?
Author:  Jaw Breaker [ Thu May 05, 2016 8:40 am ]
Post subject:  Re: The Push for Basic Income
Would this replace the "basic income" already in place (i.e., food stamps, etc.) or be in addition to it?
Author:  JORR [ Thu May 05, 2016 8:51 am ]
Post subject:  Re: The Push for Basic Income
Sir Loin Of Beef wrote:
You want to drug test the entire country?



No, just the tax eaters.
Author:  leashyourkids [ Thu May 05, 2016 8:59 am ]
Post subject:  Re: The Push for Basic Income
I think Boilermaker Rick is somehow non-ironically in favor of this.
Author:  bigfan [ Thu May 05, 2016 9:33 am ]
Post subject:  Re: The Push for Basic Income
Why not just give a free ration of COMCAST, LOTTO Tickets, Big Gulps and Pizza Hut and cut out the middleman.
Author:  TurdFerguson [ Thu May 05, 2016 9:42 am ]
Post subject:  Re: The Push for Basic Income
Not sure what the right answer is, but I don't see how cutting a bigger check to everyone fits the bill. Great news Dr. Ken, here is a check for 500 a month to spend on imported ice. BTW your marginal tax rate went up 15%.
Author:  IkeSouth [ Thu May 05, 2016 9:42 am ]
Post subject:  Re: The Push for Basic Income
bigfan wrote:
Why not just give a free ration of COMCAST, LOTTO Tickets, Big Gulps and Pizza Hut and cut out the middleman.


Dont forget two cans of steele reserve every night
Author:  WaitingforRuffcorn [ Thu May 05, 2016 9:49 am ]
Post subject:  Re: The Push for Basic Income
I think it is a fairly frightening idea, but it seems to be getting more mainstream support. I feel like this will be offered in exchange for getting rid of cash.
Author:  TurdFerguson [ Thu May 05, 2016 9:51 am ]
Post subject:  Re: The Push for Basic Income
WaitingforRuffcorn wrote:
I think it is a fairly frightening idea, but it seems to be getting more mainstream support. I feel like this will be offered in exchange for getting rid of cash.


Hopefully we can lend the Chinese another 10 trillion before we ask for our safe space free of Asian creditors.
Author:  IkeSouth [ Thu May 05, 2016 1:16 pm ]
Post subject:  Re: The Push for Basic Income
WaitingforRuffcorn wrote:
I think it is a fairly frightening idea, but it seems to be getting more mainstream support. I feel like this will be offered in exchange for getting rid of cash.


I would love it. All these people who dont want to work wont have to. Which means more work and money for me.
Author:  Chet Coppock's Fur Coat [ Thu May 05, 2016 1:22 pm ]
Post subject:  Re: The Push for Basic Income
Do we have to give the illegal aliens money too? Is it going to citizens or to residents? Is there going to be a cost-of-living adjustment, or will this convince poor people to move to cheap places to live?
Author:  Hussra [ Thu May 05, 2016 2:08 pm ]
Post subject:  Re: The Push for Basic Income
Joe Orr Road Rod wrote:
I support it as long as they're drug tested.



drug testing welfare recipients might seem like a good idea in theory; in practice it ends up being a waste of time and money--except for the companies that administer the drug tests. they make out like bandits:

http://thinkprogress.org/economy/2015/0 ... ng-states/
Author:  Hussra [ Thu May 05, 2016 2:22 pm ]
Post subject:  Re: The Push for Basic Income
going to a basic income would mean we could stop pretending social security/FICA taxes are anything other than transfer payments.

once you do that, you realize it's stupid to have people pay money into the government [FICA taxes] only to have the government distribute it right back out to them--after an administrative fee and transaction costs.

one thing i could see happening as low wage jobs are taken over by technology is attaching a "FICA exemption" to individuals/members of a household of wage-earning age.


Currently, the max income for FICA taxes is ~ $120K. And aggregate FICA taxes are nudging toward 20% total for everything.

if you attached a "FICA exemption" to individual wage earners of, say, $60K AND allowed individuals to designate another wage earner to be able to claim that FICA exemption, you could have scenarios like this:


husband and wife both work, he makes $30K, she makes $120K. After FICA and state and all other taxes, the Husband takes home, what, $15K to $20K a year? And then the couple has to maybe pay day care because the Husband is working.

The wife earning $120K already gets a $60K exemption; allow her to use her husband's full $60K exmption IF the husband is not in the work force and you are basically allowing one half of the couple to stay home and still have about the same take home cash flow they had previously while working and paying taxes/day care etc.

Image
Author:  WaitingforRuffcorn [ Thu May 05, 2016 2:59 pm ]
Post subject:  Re: The Push for Basic Income
Will not need taxi drivers with a couple of years: http://www.huffingtonpost.com/entry/lyf ... e9f0907294
Author:  Chet Coppock's Fur Coat [ Thu May 05, 2016 3:34 pm ]
Post subject:  Re: The Push for Basic Income
So why do we need people?
Author:  Regular Reader [ Thu May 05, 2016 3:37 pm ]
Post subject:  Re: The Push for Basic Income
BRick will explode all over this thread tomorrow (if he's back) :lol:
Author:  IkeSouth [ Thu May 05, 2016 4:35 pm ]
Post subject:  Re: The Push for Basic Income
WaitingforRuffcorn wrote:
Will not need taxi drivers with a couple of years: http://www.huffingtonpost.com/entry/lyf ... e9f0907294


taxi drivers, truck drivers, pizza delivery guys.... see ya. sure, it wont happen right away.. were at least 10 years away from mass takeover, but its going to happen.

but what i like most is we wont need to own cars anymore. essentially all cars on the road will be rentals. you call it, through uber or lyft or whatever, and it just comes to your house. you get it, it takes you where you need to go, then when you need to go home you just call again and a different car comes. and since they will always be driving around everywhere, it will only take seconds for one to pull over and pick you up.

all these parking lots we complain about not having enough space.. gone. wont need them. all the complaints about emergency repairs to your car... gone. when a car breaks down just call a different car and leave the broken one on the side of the road.

its going to be wonderful.
Author:  Hussra [ Thu May 05, 2016 11:20 pm ]
Post subject:  Re: The Push for Basic Income
technology wise? we're already there. As noted in this article on the platooning convoy of semi-self-driving semis that drove across Europe last month:

"THE TECHNOLOGY IS HERE; REGULATIONS ARE NEXT"

http://www.theverge.com/2016/4/7/113833 ... ing-europe

GM and Lyft are deploying self-driving cars in Chicago starting in 2017....UBER's sky-high valuation is due to their plan to move toward a completely self-driving fleet.

2020 sounds about right for these fleet vehicles to have a lot/majority of self-driving cars in daily operation.

Google, Apple, GM, Tesla, Chrysler et al have gone to Congress and asked for a Federal law on self-driving cars to avoid a patchwork of state laws.

Tesla's already offering self-driving capabilities in their vehicles.
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