31: Scott Santens - Basic Income

What happens if we gave everyone a basic income? The pros and cons, experiments, and theory behind the "free money" - an interview with Scott Santens.

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[DoctorLokey]

Basic Income is what economists refer to as an "economic floor". It essentially just raises the cost of everything. Research this, I learned this in Economics Class 101. Pretty simple because it's dictated by human nature.

[alanbuddy]

Alan Watts pointed out something about the basic income problem, and it comes from the moral ideology thinking. it's the idea that if one doesn't work one will get in trouble., or put another way " idol hands are the devils workshop. They reduce everything to jingoism .

[ClubMillennium]

MY CASE FOR UBI
ctwatcher thanks for being part of the ongoing debate on whether it's morally right or otherwise to provide each person on earth with three basic human needs for survival namely food, clothing and accommodation plus free college education to develop individual talent to be able to contribute to building just society.

Universal basic income from moral perspective ought to be seen an inevitable necessity for every human with adequate basic income provision made to ensure that poverty is never transferred from parents to children anywhere in the world.

Unless you thought it's immoral to look after one another and care for each other in such a way that every human has equal opportunity to acquire college education instead of the present system where college education is a matter of affordability which means if a child's parents are unable to pay for tuition fees, that individual child becomes illiterate not being able to develop own talent to excel in the society. This kind of situation in the case of that uneducated child you may agree will have consequences not just for the child but society as a whole because when that child fails to find a job to earn a decent living due to lack of educational qualifications, he could resort to becoming societal liability in ways unpredictable. Presently our global societies are riddled with problems emanating from these types of liabilities we decry daily.

Now to prevent such situations all that is needed is provide every child with provision of basic necessities of life as mentioned above such that no individual person has to inherit the burden of poverty from poor parents denying them early childhood educational development required for skill and talent discoveries.

However, given the prevalent socio-economic class-divide of rich and poor in our society with the gap widening each day, it will be delusional to think that Government will ever implement universal basic income. It is almost impossible for Government run by politicians who are benefiting from the present system to implement UBI.

In case you are wondering my premise for the above statement I have to say this.
Our global society is owned by too big to fail monster corporations which by all means possible lobby/sponsor our politicians who make laws to protect these corporate entities thriving on cheap labor provided by 99% of the world population, it is likely inconceivable that the same politicians who benefit from the system designed to sustain cheap labor that propel the economic engine powering big corporations will somehow implement UBI which as a welcome good intention will enable most of the cheap laborers start acquiring college degrees for higher paying jobs. In order words the cheap labor market will begin to tank forcing corporations to either pay more for human labor or resort entirely to acquiring robots and machine automations which are already poised to takeover jobs anyway. Politicians will never turn on their sponsor corporations in our present vulture capitalism.

The only alternative is non Governmental self-help initiative program that will aggressively mobilize over 3.5 billion poor people worldwide to engage in collaborative arrangement whereby voluntary donations are made for FUNDRAISE for one another successively.
From the video I made CLUB4 MILLENNIUM is the core element of such self-help initiative program to actualize UBI without Government involvement to empower people financially with just onetime only donation of US$10. The potential of self-help initiative for personal FUNDRAISE powered by Club4 Millennium is huge and it's phenomenal.

[hitssquad]

5:40 "technology has been affecting us for decades" Technology has been affecting people for 2 million years. The first form of automation was fire. Like all forms of automation since then, it didn't permanently put anyone out of work.

[naomiluciano]

bc people won't buy certain products if they are too expensive... I wouldn't mind paying 50.00 more on 500.00 worth of luxury purchases .. I consider that an investment I pay 50.00 more for this tv I'm buying off of the first thousand dollar dividend and the rest of my money gets put to bills, groceries or rent and rainy day fund I'm getting back 1k next month to replenish that... Meanwhile a wealthy person also pays a vat tax and they buy 40k worth of luxury purchase and they only getting a thousand dollar rebate out of the 4k they put in to the dividend fund and atleast 3k will be split in between 3ubi aside .

Fact is where the greedy will have bots doing all the work and it's 99% profitable to get rid of nearly a thousand workers in tge same breath THAT is what keeps the costs down. Bc they don't have ti price jack anything the corporation gets a credit every time it exchanges hands to add value to a material .. cotton becomes processed into material, material is sold to a shirt company and the shirt is sold to retail... Each way along the line a partial rebate is credited but keep in mind the money pitched in through a vat is not given back it's simply credited. The vat would be a cost embedded in the price you see on the price tag.
The customer doesn't make it profitable bc it's not adding value to anything but along the line of manufacturing an item value is being added to be sold not necessarily bought.
The consumer buys it so with a Ubi you spend 50.00 extra on a 500.00 tv and next month you get a thousand dollar check to replenish . Think about it even if you don't spend on luxury items and you live a comfortable life with out it you can actually put it into a rainy day fund or bucket list money when you retire on top of your retirement fixed income..

Point is preparation ...some people will spend it on Christmas or black Friday, cyber Mondays, birthdays and vacations if they play their cards right ... But if they don't that's on them... Can't be worried about what people will do with the money ... The rich will be paying bigger money and funding a nice portion of the Ubi...

Fb made 40billion off their users last year...and funny thing is there was somehow 16.00 debited on my bank account pulled by FB ... Fb is free and somehow I got charged...
Fb literally sells access to our data to certain tech Advertising firms and they sell access to our FB by planting adds on your news feed...
Think about how you might Google specific products to price match or try to look up cheap flights for 2 weeks straight ...I promise that you will teach the algorithm to link you to adds for the exact product or services..

Check out the clinics now they get self check in for appointments and self check out to swipe their insurance cards or payments ..

Wonder what those office assistants are doing with their free time

[Mviews-chls]

Look at @positivemoney and positivemoney on the www.

[kymduncan]

Banks are creating the money-Money we need in the economy. Some of the wealthiest people pay the least tax's, on honoured income etc capital income. Capital replaces labour- tax capital games on a higher rate. Healthier population. Eliminate people's focus on meeting there basic needs. People need to be able to be free and be able to be more creative.

[alanbuddy]

won't the greedy just rase the price of goods and services??

[mischa]

I grew up in a communist country, so I am not naive to buy into this.
If UBI arrives in Canada, I will be gone in a jiffy.