General Discussion

meaculpa2011

(918 posts)

6. Universal Basic Income for all...

Thu May 5, 2016, 11:08 AM

May 2016

so that those who wish to work can and those who do not wish to work will not need to work.

Once the infrastructure for ALL means-tested income support and subsidies is dismantled (at every government level) there will be plenty of money left over to provide a UBI for every adult American.

I love my work. I could have retired years ago but I choose to continue working.

There are people who hate work. There is no societal benefit that accrues from forcing them to work or shoving them into the means-tested social welfare system.

All of the world's problems could be solved if people would simply do as I advise.

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Would a very low income tax and a very high inheritance tax please everybody? [View all] Baobab May 2016 OP

My wife and I are in the process of transferring... meaculpa2011 May 2016 #1

Because you will already have given them everything before you die? Baobab May 2016 #2

Universal Basic Income for all... meaculpa2011 May 2016 #6

I hate work and I'm 35. FML for the next 25-35 years MillennialDem May 2016 #10

I read The Culture books too. It's not right around the corner, sorry. nt IamMab May 2016 #3

Sorry, never heard of said books, its just fairly well known fact in the scientific community Baobab May 2016 #17

I think you mean "science fiction community." nt IamMab May 2016 #21

I don't know... JSup May 2016 #4

People could leave their children up to around $10 million in today's money Baobab May 2016 #5

Reward people for economic activity 1939 May 2016 #9

People would need a way to bypass that because they will not have practically any income Baobab May 2016 #22

mental labor will be done by machines too, much better than most people do because AIs Baobab May 2016 #23

Sometimes I read too fast... JSup May 2016 #14

It's more xianism than evolution... scscholar May 2016 #29

So the Sultan of Turkey living large 1500-1900 1939 May 2016 #31

Oh, he meant 'Christian'! JSup May 2016 #49

Naw 1939 May 2016 #50

With the 't'... JSup May 2016 #56

So long as there is poverty, all taxes should be steeply progressive. hunter May 2016 #7

UBI fixes most of these things MillennialDem May 2016 #11

Except for the "non-abusive workplace" 1939 May 2016 #24

thats the idea, by doing this, since everybody dies, there would no longer be poverty Baobab May 2016 #41

No. Income taxes have to be progressive. trotsky May 2016 #8

I would be ok with a flat tax IF capital gains were treated identically to income and there was MillennialDem May 2016 #12

I guarantee you, the rich would still come out ahead... trotsky May 2016 #13

Most flat tax analysis only looks at income (as opposed to capital gains and payroll). Now, I know MillennialDem May 2016 #15

There would likely be no middle class because all the middle class type jobs would be automated Baobab May 2016 #19

And if you could ponly pass $10 million down to your kids 1939 May 2016 #28

$10 million is way more than enough to live on the dividends. Even $1 million is close (for MillennialDem May 2016 #36

$30,000 (yr) isnt enough to live safely in America today, let alone in the future. Baobab May 2016 #20

$30,000 is def enough to live on, not safely... but it is the median individual income. And you coul MillennialDem May 2016 #37

"side work" wont be available in this hypothetical future- also >90% of mainstream jobs will vanish Baobab May 2016 #45

Tax on wealth upon death would be 100% - $10M for each child. Baobab May 2016 #18

Sounds kind of hellish to me. NT Adrahil May 2016 #54

They will be very much so, as the richer people are, the higher percentage of that tax. Baobab May 2016 #26

Say goodbye to the home mortgage deduction. trotsky May 2016 #35

They would not be taxed at all. Nor would many have jobs. Baobab May 2016 #38

That would help fix the debt practially overnight meow2u3 May 2016 #48

Interesting idea TrappedInUtah May 2016 #16

We couldnt "maintain a society with good jobs and wages" for everybody because most people will Baobab May 2016 #32

Inheritence tax should be minimal or non existent... TipTok May 2016 #25

This. B2G May 2016 #27

No, only the profit is taxed IphengeniaBlumgarten May 2016 #34

As it is now (current law) 1939 May 2016 #30

You only do that because the government is so corrupt now. Baobab May 2016 #33

Send me all your money 1939 May 2016 #42

$3.7M (just went through probate) not $5M REP May 2016 #46

From the IRS site 1939 May 2016 #47

Wonder what my lawyer was smoking REP May 2016 #55

unless those businesses were worh more than the number of children times $10M they would be passed Baobab May 2016 #39

Too many people?� Not enough resources? Not enough jobs? tularetom May 2016 #40

People arent "born to" spend most of their time making somebody else rich Baobab May 2016 #43

No, but it's the right idea MosheFeingold May 2016 #44

It wouldn't raise enough money 1939 May 2016 #51

Never ran the numbers, so I don't know MosheFeingold May 2016 #57

Pure Fantasy MichMan May 2016 #52

which jobs cannot be automated apart from the obvious ones? Baobab May 2016 #53