Universal Basic Income

[grenfell]

I'm gad you mentioned market forces deeps as the concept is so deeply rooted as to be unavoidable. And business and market forces being what they are I could foresee how they would react. If a worker is currently earning say £20,000 and UBI were to be paid as well that worker would be deemed richer , prices would rise , the so called idea of charging what the market can afford would come into play. Furthermore if the government is paying that worker £8000 trough UBI an employer is going to be less inclined to pay that worker more than they can , thus we get to a situation of wage stagnation and rising prices which in turn would probably lead to calls to increase levels of UBI to help people cope. I seriously doubt that such a system would be viable within the economic system we have at the moment but even if it were tried it would have to involve higher taxes for corporations . Taxing the working man to pay him UBI simply wouldn't work as there'd be no "extra" money entering the system , again not rocket science.
Corperations can and do provide jobs although I have always believed foreign investment is something of a double edged sword. When we hear corporation X is making a £100M investment they are simply increasing their own assets and are then taxed at lower rates and export their profits or at least a large percentage of those profits to foreign shareholders . The money rarely stays within the "invested in" country. Take Cadburys for instance. Sold to Kraft , they close down production here and move it to Poland and went from paying over £200M in tax to sod all , pretty hard to put actions like that in a good light.

[Drcamburn]

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[jansman]

Lets try and swerve away from the politics please.

[grenfell]

Does anyone have a plaster that will work in my mouth?

[Drcamburn]

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[Deeps]

To be fair though this is a very political subject.

I'm sure you know what Jansman is referring to.

[jansman]

To be fair though this is a very political subject.

It is political,but also about economics.We try not to be politically partisan.

[Drcamburn]

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[Deeps]

To put a financial spin on it I would be skeptical about who gets to pay for it. Using some quick google you can see this is going to be very expensive. If we assume the whole point of this is to lift every person out of poverty it's going to use the national living wage as a payment, as not many people would live off of £8000 a year, the government set living wage for the year is £17,550 outside of London. Taking UN estimates of the UK population of 66.5 million would come up with a bill of £1,158,300,000,000. Since the government spends £800 million already at the moment adding 125ish% to everyone's tax bills would have to take place. However since trials that looked into UBI I've found mostly mention a reduction in working hours, hell id cut my hours down to prep more too, people are paying less income tax. Then hypothetically VAT (along with basically all indirect taxation) would go through the roof as the government has to claw the money back somehow, and I imagine prepping would become a rich person sport.

The problem was more your personal take on socialism.

[jansman]

Thanks Deeps.I was trying to be subtle At least you got it.