The Roosevelt Institute finds that a universal basic income could actually increase GDP.
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$1,000 per month cash handout would grow the economy by $2.5 trillion
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6 years ago by mannacurrency (62)
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Where would the money come from? I mean such a huge social program would need to be covered by massive inflation. They arent goint to relent on military spending so this type of program would retract from other social programs, and you know the republicans will probably want to cancel things like social security and welfare if we implement such a measure.
$1,000 per person in usa is around $300 billion and if we only count the adults the it maybe $200 billion a month. Nothing but the military gets such a hge annual budget.
where will the money come from?
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Money can be generated by quantitative easing. You should study the Modern Monetary Theory. Money does not have to be taxed first to be spent. Inflation only occurs if there is too much money out there, and that can be regulated by taxation. High taxes could be imposed onto the wealthy and onto goods and practices that are not sustainable or are otherwise undesirable. Concurrent to the introduction of a Basic Income, we also need to have system change towards an economy that is not based on exploitation and violence. Low-carbon activities could be fostered, high-carbon activities could be disincentivized. With that, military spending would automatically decrease. In the end, it just depends what we want as a society, and how much we value each other and the planet.
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If this would be put into action, GDP might grow under socialism... but I am not sure of the workforce when human become jobless because of automation... what will happen in my opinion is that, people will no longer work because the government gives them the basic income. People become lazy and some would think of business ventures which might become top or flop.
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people are unlikely to become lazy, they will actualy have time to do what they aspire and follow their dreams. You know darn well most people don't aspire to be in the jobs they have. They are employed because they need to eat and afford necessities. Very few folks make it to financial freedom and even fewer get to persue their dreams because they HAVE to work, usually fulfilling someone elses dreams.
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