Soldato
- Joined
- 22 Jul 2014
- Posts
- 3,900
- Location
- Oxon
But this would replace the tax-free allowance too so there's saving there.
And state pensions surely?
But this would replace the tax-free allowance too so there's saving there.
Thats the idea. Plus the massive economic output of having so many more consumers, and placing more power back to the working man by giving them an option not to work in a soul destroying job, forcing wages for rubbish jobs to go up. Universal basic income is a fantastic idea and the future, i'm just sad I wont live to see it.
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started paying income tax yet?
started paying income tax yet?
Thats the idea. Plus the massive economic output of having so many more consumers, and placing more power back to the working man by giving them an option not to work in a soul destroying job, forcing wages for rubbish jobs to go up. Universal basic income is a fantastic idea and the future, i'm just sad I wont live to see it.
Its an interesting thought.
I wonder if the cumulative effect of removing disability benefits, shuttting down the job center and other things that would be made redundant by this would make up for the required spend?
It would just cause inflation in things like rent.
UK equivalent
https://en.wikipedia.org/wiki/Demography_of_the_United_Kingdom#Age_structure
15–64 - 41.704
65+ - 10.378
52.082 * 576 = 29,999,232,000
= 359,990,784,000 per annum
Do total UK benefits even come to this figure? I doubt it. I guess that many services that are provided by the govt free at the point of use would have to become payable.
That in turn opens up services to the private sector.
I'm surprised left-wingers are supportive of this idea! It's a capitalists dream.
Even got a full time job. Friend of mine got caught big time, money laundering charges, proceeds of crime tried to take his house etc. I had to do something. I stand by my stance of not paying tax on something that my government won't legitimise, and even had some experts tell me it's far more trouble than its worth at my previous income, brings more scrutiny than anything else.
Please don't attempt to take the thread off topic by making it about me though. I know you are fond of it.
The benefits bill comes to £217bn, so this would be a £150bn rise (baring in mind there would still be an admin cost). Income tax currently raises ~£160bn. While it's an interesting idea, we'd need to vastly increase government income to pay for it. £150bn isn't far off a 25% increase in revenue!
A scheme like this would have to be met with hikes in the higher and top rates of tax that not only removes the value of the citizens income, but goes some way toward funding it for the unemployed and for basic rate payers. We'd also need significant hikes in other taxes - income tax can't come anywhere close to funding a worthwhile citizens income. There's no way this country is going to be in favour of the idea.
it is legitimised and legal. i know quite a few who do it (you need to have it on the books for mortgages etc)
you're looking at it the wrong way - it is flawed to assume that everyone is supposed to get an increase from this - as you point out it would need tax changes
you change the tax brackets too so that people in work get roughly the same net income - obviously you'll get some people gaining or losing slightly to some extent but doing a calculation that assumes an increased cost of the value of this benefit per head of the population as you seem to have done there initially is completely flawed... so long as most people aren't worse off from this then it wouldn't be that hard to impliment
Give 33% of people a gun, give 33% a bullet and then give the last 34% a job.
The reality is this.
1. People work to provide their offspring with the best chance going forward - nature doesn't care about the others.
2. Taxation is seen to be artificially simply undoing the effort that people do to propel their own kids forward.
3. Lazy people will simply absorb funding for free.
The only thing is rich people only need the sperm and eggs from other rich people or people with the genetics (usually good looking in trade).
Money is the abstraction of force and power that provided status within a tribe or tribes that existed before economic times.
Finland are doing it right. I've long said that a system like this is what we need here. We would do away with benefit cheats, and all the administration required because EVERYONE would get it. Yes, the capital cost per month would be high initially but the savings from all of the admin departments no longer being required would surely be huge.