Universal Basic Income

How would this work in practice - for example does everyone get £1600 plus any other income they earn?

Or is it you get your income topped up to £1600 if its under £1600.

If its the latter, what incentive is there for people to do say a care assistant's job?

It its the former we are going to have a lot of inflation.

Myself I would raise income tax thresholds to the level of Living wage - say £18,570 a year that would give everyone with an income of £18,570 or more - £1,200 a year. I would cut back some of the tax reliefs to pay for it. This would help low income groups and incentivise people to take on lower paid jobs. People who are given £1,200 a year in lower paid jobs tend to spend it more than giving money to people on above average incomes who would more likely save it.
 
ForssAwakens said:
www.mckinsey.com

An experiment to inform universal basic income

As income inequality and economic upheaval take center stage, is a guaranteed minimum income worth considering? Results from a two-year experiment in Finland offer clues.
www.mckinsey.com www.mckinsey.com

Anyway you assumed my stance but here’s some evidence
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Ah, but has it passed the common sense test? Don't forget people don't like experts nowadays.
 
Facefuzz said:
Ridiculous idea. Everything just goes up in price.
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Supposedly supply, rather than demand, has a lot more to do with inflationary prices.

So if there was only 1 loaf of bread left for anyone in the UK to buy it would become very expensive. But if everybody suddenly gets an extra £1k one month, the price of loaves of bread probably doesn't change.
 
coluka said:
I assumed nothing. You can't judge without clarity.
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I can ask someone to show me their workings out to their opinion. They made a statement, it’s on them to show my how?

I hadn’t made a claim on this thread, so I’m in my right to say where’s the evidence
 
ForssAwakens said:
I can ask someone to show me their workings out to their opinion. They made a statement, it’s on them to show my how?

I hadn’t made a claim on this thread, so I’m in my right to say where’s the evidence
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As i am to ask you your view and reasoning too surely?
 
SilentProf said:
It’s inevitable. All jobs will be made redundant as machines or software become cheaper and more capable than people. At that point we either let people starve or give them something to live on.
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I am staunch socialst so seems like eutopia to me however some people will always want more property and wealth than their fellow man how is that possible with zero jobs. Will automation and AI make capitalism a dead duck
 
Redwurzel said:
How would this work in practice - for example does everyone get £1600 plus any other income they earn?

Or is it you get your income topped up to £1600 if its under £1600.

If its the latter, what incentive is there for people to do say a care assistant's job?

It its the former we are going to have a lot of inflation.

Myself I would raise income tax thresholds to the level of Living wage - say £18,570 a year that would give everyone with an income of £18,570 or more - £1,200 a year. I would cut back some of the tax reliefs to pay for it. This would help low income groups and incentivise people to take on lower paid jobs. People who are given £1,200 a year in lower paid jobs tend to spend it more than giving money to people on above average incomes who would more likely save it.
Click to expand...
Everyone would get the payment. Anything they earn on top would be taxed. Probably at a much higher rate than they pay currently. That would cover a big chunk of it and there would be a lot of savings from things like not having to pay other benefits or a state pension but more would probably need to be found from other sources.
 
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