Universal basic income to be trialled

[danlightbulb]

You do realise you would also pay more tax right?

So would anyone working end up in exactly the same place? Receive UBI, but pay more tax on your actual salary = same net income?

If so then what's the point, all it will do is incentivise lower paid jobs to drop out the workforce.

If it does make people better off, perhaps on a diminishing scale as your earnings go up, then it will cause inflation especially on everyday goods and housing.

 

[Deleted member 77746]

You have no idea how bad it really is.

Tell us. In a story.

 

[413x]

You would benefit from the initial change , prices would rocket and those that didn’t buy before that point would even be more worse off that before that event.

Exactly this.

 

[Mrwong]

Are you actually in the UK?

I wonder how much the benefits currently costs us. Not in terms of the money to the person, but the entire supporting infrastructure for it, has to be savings somewhere on that front.

Still if Labour did introduce it the Tory scum would only start taxing it 8 years later

The cost of benefits specifically unemployment is nothing to this country, it is pretty much like losing 10p thats the value in economic terms.
However, they will highlight as it costing this country a fortune when it is peanuts in monetary term.

 

[Deleted member 77746]

You would benefit from the initial change , prices would rocket and those that didn’t buy before that point would even be more worse off that before that event.

If prices rocketed how do you expect someone on 1600 a month to afford these new prices?

and around and around we go.

 

[Chuk_Chuk]

This must be funded by huge tax increases?
I mean huge.
I cannot understand how you can tax the wealthy that much to make it worth doing those jobs.

What would the tax rate need to be? 50 percent across the board?
50pc for any income. 70 percent for income above X?

It sounds too good to be true. Actually, thinking about it, if there was no inflation (there would be) I think I'd quit work. I could easily live on that much.

What I'd probably do is retire at 40 rather than 55.

The UK population is 69 million.

The UK would be spending 110 billion per month on this program.

Elon would run out of money in just under 2 months.

You would burn through the top 10 richest people by the end of the year.

From what I could find the most profitable compandy (Saudi Aramco) made £105 billion in a year.

I doubt any level of taxiation is enough to cover this.

Edit: These aren't even UK entities.

 

[Mrwong]

Brilliant
Another hapless government idea that will drive house prices up even more

The extra money will need to go somewhere. This is not about helping people this is about helping a very few, but giving the impression it is helping the many. Transfer of state wealth to private hands, corporate/ top 5% benefit.

Btw there is no such thing as government, in terms of what most of this population understand to be.

 

[Deleted member 77746]

Mrwong says he can afford "one hundred ten billion four hundred million" to help pay for us all on UBI.

Thanks dude!

 

[rumple9]

Stop panicking. It's a trial of just 30 people (15 in London and 15 in the North East) people getting £1600 per month, to see what they do with the money andf how it might change their behaviour. Similar trials have been done in Scotland, Wales and Scandanavia to positive effect.

It will lift the lowest in society out of poverty and get rid of the need for a benefits system.

Obviously the government recognises the fact that in the next few years most of us are going to lose our jobs to AI. (I know my last 2 jobs could easily be replaced by AI).

Financial commentators have been saying for the last few years that we need plans in place to tax the AI and give everyone a unversal basic income. People will have more leisure time and more time to be inventive thereby improving society further.

 

[Deleted member 77746]

Similar trials have been done in Scotland, Wales and Scandanavia to positive effect.

I hope these trials are also to drug users, gambling addicts and takeaway addicts as well.

 

[Mrwong]

Mrwong says he can afford "one hundred ten billion four hundred million" to help pay for us all on UBI.

Thanks dude!

Last time a charity asked me for money, I responded let me have a look at your books. That was the end of the conversation.

 

[Deleted member 77746]

Stop panicking.

 

[throwaway4372]

Yep, it simply can't work in my eyes.

If I was given at extra £1600 a month and there was no inflation caused from it, I could use it to pay back my mortgage in only about 8 years. I mean, happy days but it will never happen.

Very interesting observation about using ubi to pay mortgages.

There was a suggestion that mortgage payments could be tax exempt.

Suspiciously similar effects.

 

[Deleted member 77746]

Last time a charity asked me for money, I responded let me have a look at your books. That was the end of the conversation.

You going to do that for everyone on UBI before you donate all your one hundred ten billion four hundred million?

 

[xashzx]

People will have more leisure time and more time to be inventive thereby improving society further.

This should've been true about computers. People shouldn't have needed to work as much because computers did a lot of work for them, ergo more free time, but instead it just incentivised employers to lay off staff and have the remaining ones pick up the slack because of the increased efficiency

 

[mid_gen]

Granted, I only read the BBC article, but it's not clear at all about what the plan is. If rolled out, everyone would get £1,600 a month and you continue to work to earn more. Are other benefits still given to some? Or is this just for unemployed? What if you earn less than £1,600 a month? As said, why would you then work?

I think the risk the UBI introduces is making a mockery of the lower paid jobs in society. I.e. You can sit at home all day and earn 20k a year versus someone who goes to stack shelves for 21k a year - you know what most people will choose.

Yes I know the obvious answer is to pay these jobs more, but that just won't happen in a capitalist society.

I'd be more for a "top-up" of wages. For example if the UBI was set at 25k a year then the shop worker earning 21k would get an additional 4k. At least this way it would still encourage people to be in work, and provide them with a little bit more income.

Amazed so many people don't understand it.....

You don't lose the UBI if you work.

Say you get your £1600 UBI. You then get a shelf stacking job, and you get 21k a year ON TOP of your UBI.....so the incentive to work is still there.

If anything, it really incentivises people to fill these low paid jobs because you can actually have a good standard of living on them.

 

[BUDFORCE]

Stop panicking. It's a trial of just 30 people (15 in London and 15 in the North East) people getting £1600 per month, to see what they do with the money andf how it might change their behaviour. Similar trials have been done in Scotland, Wales and Scandanavia to positive effect.

It will lift the lowest in society out of poverty and get rid of the need for a benefits system.

Obviously the government recognises the fact that in the next few years most of us are going to lose our jobs to AI. (I know my last 2 jobs could easily be replaced by AI).

Financial commentators have been saying for the last few years that we need plans in place to tax the AI and give everyone a unversal basic income. People will have more leisure time and more time to be inventive thereby improving society further.

You remember that show on BBC back in the 80's tomorrows world?

How they thought technology would drastically improve our lives?

Look at us today.

I do however, respect your optimism.

 

[Deleted member 77746]

People will have more leisure time and more time to be inventive thereby improving society further.

Defo not!

 

[Mrwong]

This should've been true about computers. People shouldn't have needed to work as much because computers did a lot of work for them, ergo more free time, but instead it just incentivised employers to lay off staff and have the remaining ones pick up the slack because of the increased efficiency

Computers have increased the work load, not reduce it as you pointed out.

Business letter would take days or a weeks or more for a response.

Email response almost instant, more workload.

Now factor in your wage and it works out you were paid more back then, than today. This is a quick estimation, but hopefully sets out the logic.

 

[413x]

Amazed so many people don't understand it.....

You don't lose the UBI if you work.

Say you get your £1600 UBI. You then get a shelf stacking job, and you get 21k a year ON TOP of your UBI.....so the incentive to work is still there.

If anything, it really incentivises people to fill these low paid jobs because you can actually have a good standard of living on them.

Yeah this is a possible. It's certainly something I'd look to do. An easy 2-3 day a week job