Social Question

JLeslie's avatar

What happens if America rolls out the $1,000 per adult Freedom Dividend?

Asked by JLeslie (59518points) September 28th, 2019 from iPhone

Presidential hopeful Andrew Yang is proposing a universal basic income (UBI) of $1,000 per month for each adult American citizen. He’s going to be getting the money by taxing extremely profitable companies like google and Amazon, instead of letting them pay very low or no taxes with current tax law.

Here is a link to Yang’s website you can easily X out of his request for donations if that pops up first. He has a really good FAQ section. https://www.yang2020.com/what-is-freedom-dividend-faq/

For the Q, lets try to really think about the state of America now, and how you think it will affect America. I’m sure people will bring up other countries as examples, but we all know there are positive and negative examples around the world of socialism. Yang is not proposing a government take over of businesses and property nor dictatorship. He’s not a communist.

Some questions I have:

1. Would you stop working, or work less, if every American adult citizen was given $1k per month?

2. Do you think the amount should be different than $1k?

3. Would one benefit be that older people could retire sooner, so young people would have more employment opportunities?

4. If you don’t quit work, what would you do with the extra money? Spend? Save? Donate?

Aside from the questions I wrote out, I’m interested in your other thoughts on the topic.

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6 Answers

elbanditoroso's avatar

Ridiculous idea. Where does the $1000 come from each month? This is socialism / redistribution of wealth. Why should my taxes pay a stipend to my next door neighbor?

this is a politically attractive idea that has ZERO chance of ever happening.

That said:

Inflation would go up. (more money = more demand = higher prices.)

It would not change my work, my retirement, or anything else.

I might bank part of it, but probably no more than half.

JLeslie's avatar

@elbanditoroso Comes from the immense profits of the corporate winners in our technological society. You can read his explanation on the website if you’re interested. I’m not defending or pushing for it, just explaining.

I have mixed feelings about UBI.

elbanditoroso's avatar

Same issue as I mentioned. Do you think the corporate winners are going to voluntarily contribute billions of dollars a year? Of course not. It’s a tax. And we’re back to the same question: should the owner of GM (or the stockholders of GM) be forced to pay every deadbeat on the street? Of course not.

We have problems in this country, but the government playing Robin Hood (stealing from the rich) isn’t a sustainable way to solve it. Eventually the rich won’t exist.

kritiper's avatar

Soon we’d have to raise it to $2000…

Darth_Algar's avatar

@elbanditoroso

Scream “socialism” all you want, but it’s going to be necessary eventually as automation increasingly puts more and more people out of work.

Zaku's avatar

1. Would you stop working, or work less, if every American adult citizen was given $1k per month?
4. If you don’t quit work, what would you do with the extra money? Spend? Save? Donate?
– No, I’d just be able to pay my taxes. It would be a huge relief actually, but I’d do what I have mostly been doing already – working for a client and developing my own games. I just wouldn’t have to worry so much about money and finding more work.

2. Do you think the amount should be different than $1k?
– I think it’s a great start, and might be enough in combination with other social welfare programs. It’s certainly not enough for most people to live on by itself. For instance, it wouldn’t let me afford US health insurance.

3. Would one benefit be that older people could retire sooner, so young people would have more employment opportunities?
– Yes.

@elbanditoroso “Ridiculous idea. Where does the $1000 come from each month? This is socialism / redistribution of wealth. Why should my taxes pay a stipend to my next door neighbor?”
– The US government sends ridiculous amounts of money to the military and corporate welfare, and doesn’t tax the mega-wealthy enough.
– Unless you are making much more money than everyone else, it would not be a case of your taxes going to your neighbor.
– The reason is because we as a society have the means to not starve or abandon the needy, and the wealthiest nations should not be full of people afraid of becoming homeless. Etc etc etc.
– Also because traditional jobs done by humans, especially high cost-of-living Americans, are going to continue to become less and less needed by those who can provide jobs.

And we’re back to the same question: should the owner of GM (or the stockholders of GM) be forced to pay every deadbeat on the street?
– I don’t know about GM, but those making the most extreme profits from the economic situation, yes, should not have unlimited profits while people go without basic needs. And most people who struggle to make ends meet in this economy are not “deadbeat[s]”.

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