💰 Universal Basic Income | Pros and Cons | UBI

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  • Опубликовано: 29 сен 2024

Комментарии • 1,2 тыс.

  • @EconClips
    @EconClips  5 лет назад +92

    If you appreciate our work, and like the video (not the UBI, the video) please give us thumbs up!

    • @ayaz372
      @ayaz372 5 лет назад +1

      That was a very good video on UBI. Really loved it and your other videos.
      Just wanted to mention one mistake in it. You said that "Milton Freidman's Negative Income Tax Idea" is the same as UBI. I argue that it is not the same and actually it is better if you want to get out of the current redistribution mess. Let me explain how:
      UBI removes the incentive for people to work. While the negative income tax promotes the incentive to work along with some guaranteed money.
      Example: Suppose in UBI everyone will be entitled to get $3000 every month. And if someone's earning is suppose more than $5000 per month he will need to pay tax.
      Now, let compare with "Minton Freidman's Negative Income Tax Idea" with -50% -ve tax rate
      Formula is: Entitlement Amount = ($3000 - Income) * Negative Tax Rate = ($3000 - Income) * 0.5
      - If a person's income is $0 ==> ($3000 - $0) * 0.5 = $1500. So his total earning becomes $1500
      - If a person's income is $1000 ==> ($3000 - $1000) * 0.5 = $1000. So his total earning becomes $1000+$1000=$2000.
      - If a person's income is $2000 ==> ($3000 - $2000) * 0.5 = $500. So his total earning becomes $2000+$500=$2500.
      - If a person's income is $3000 ==> ($3000 - $3000) * 0.5 = $0. So his total earning becomes $3000+$0=$3000.
      So, as you can see Negative income tax guarantees an amount $1500 per month, but also creates an incentive to work for people until they reach some threshold amount like $5000.

    • @yaniwidjaja7652
      @yaniwidjaja7652 5 лет назад +1

      Hi, do you guys have any sources for this video?

    • @matefranek3088
      @matefranek3088 5 лет назад +4

      The migration problem is eliminated when only citizens receive UBI. No need to fearmonger on this.

    • @fieldflower7916
      @fieldflower7916 4 года назад +1

      Recently, Austan Goolsbee, chairman of President Obama's financial advisory board, in commenting about this plan, told CBS news, it would take around a 30% VAT to cover a $1000/mo ubi. Here's why I think he's right... See if you agree.
      Mathematically, it takes 30% to 39% VAT, on almost everything people spend their money, plus the savings from other welfare programs like SNAP, plus a 30% to 40% data tax to generate the amount needed,to fund every adult $1000/mo.
      Please check this, and tell me if you find errors. I provided links below for the resources I used. MATH ☺
      According to Reference, the US Census Bureau estimates there are 247,813,910 adults in the US.
      ➡To provide all adults $1000/mo is $3T Here's the math:
      247,813,910 (adults) × $12000 (ubi per year) = $2,973,766,920,000 (amount needed)
      which rounds to $3T.
      ➡To give 200M people $1000/mo, is $2.4T Here's the math: 200,000,000 × $12,000 = $2.4T
      So by using the consumer totals available by Balance, online, for 2018, we see the total for all goods and services except healthcare, rent/mortgage, clothes and food was $7.1T .
      Another search reveals that data is currently almost a $200B industry. $0.2T.
      That's a combined $7.3T.
      $7.1T(consumer spending) + $0.2T(data) = $7.3T
      If we take 10% of $7.3T, we have $0.73T.
      7.3 × .10 = .73
      Government savings estimated on freedom-dividend website from welfare programs, like SNAP, is $161.57B or written in trillions, is $0.16157T or. Rounds to $.2T
      $0.73T(10% spending & data) + $0.2T(gov't savings) = $0.9T (total to spend on ubi)
      ➡So that's $0.9T of revenue to pay for $2.4-$3T worth of ubi.
      $0.9T - $2.4T = -$1.5T (negative number)
      $0.9T - $3T = -$2.1T (negative number)
      ➡That is $1.5T to $2.1T less than what's needed.
      ➡To put $1.5T - $2.1T in perspective, in 2018, the IRS collected a record high $1.68T in individual income taxes.
      ➡$1.5T to $2.1T more money would be added to the national deficit.
      ➡$1.5T to $2.1T more money would be added into circulation each year. This amount is what's not from other money circulating, it's deficit spending, and would require money printing.
      See "Why Don't We Print More Money?" On Economist Thursday channel. In 2014, they made a cartoon illustrating what would happen if the government printed money and gave some to everyone. They show why it doesn't help us buy more.
      Also, the Infograph on channel One Minute Economist, "What is Inflation? " I have both videos on a playlist for anyone who wants easy access to the videos.
      ➡To avoid deficit spending and money printing what would it take to collect enough?
      It takes a 30% to 39%VAT and data taxe, plus the government savings. Here is the math.
      7.3T(spending & data) × .39 (39%VAT) = 2.8T + $0.2T (gov't savings) = $3T For 247M people.
      7.3T(spending & data) × .30(30%VAT) = 2.19T + 0.2T(gov't savings) = 2.4T For 200M people
      The math indicates a 30% - 39% VAT on everything except healthcare, rent/mortgage, food and cloths + data tax + welfare savings in order to fully fund it.
      Note: No business to business totals are included because the total amount collected by the IRS is still the percent of the VAT on the retail price. Although the VAT passes through the supply chain, businesses are reimbursed throughout the process by showing their receipts to the IRS. A short video that gives a simple explanation of how VAT works in the EU is, "What is VAT and how does it work? Will's Whiteboard" The channel is Avalara. I have it in the playlist, too, if you want easy access to it.
      Also, No administration costs were estimated and subtracted for the cost to interact with all the businesses to collect the VAT or to accurately distribute it to between 200M and 247M people. Not sure how to estimate this.
      Census estimate to see how many adults there are in US:
      www.reference.com/government-politics/many-adults-live-usa-b830ecdfb6047660
      Consumer spending totals:
      www.thebalance.com/personal-consumption-expenditures-3306107
      VAT example explanation:
      www.investopedia.com/ask/answers/042315/what-are-some-examples-value-added-tax.asp
      Info about our US sales Taxes:
      en.wikipedia.org/wiki/Sales_taxes_in_the_United_States
      What is data industry worth? (not yet $200B)
      www.i-scoop.eu/big-data-action-value-context/big-data-2020-future-growth-challenges-big-data-industry/
      Thoughts? Isn't this printing money and passing it out and cause inflation that consumes the benefit, putting everyone back to the starting point?

    • @matefranek3088
      @matefranek3088 4 года назад +1

      @@fieldflower7916 left out carbon tax and the estimated market growth from ubi, the roosevelt institution made a study on it. Every calculation that "proved Yangs calculation wrong" had something missing that Yang calculated with.

  • @demetriusmiddleton1246
    @demetriusmiddleton1246 5 лет назад +210

    The pros and cons don't start until the 7:00 mark

    • @SimplyKemee
      @SimplyKemee 5 лет назад +2

      Demetrius Middleton thanks

    • @jeffkeil1595
      @jeffkeil1595 4 года назад +4

      UBI will never start. There, I fixed it for you.

    • @o_n_a4641
      @o_n_a4641 4 года назад +5

      Just cons actually

    • @nguyenducbinh3849
      @nguyenducbinh3849 3 года назад +1

      thank you so much bro. it helps save my time lol

    • @randumbone
      @randumbone 3 года назад

      thanks homie

  • @gbat2479
    @gbat2479 5 лет назад +13

    This is the 4th Industrial revolution. We cannot compare to our past industrialization. The railroad, industrial machines, and computers could not think and learn. They needed humans to think and operate them. With AI the machines will learn and become much more efficient. No human will be able to compete because it will have the collective knowledge of all doctors, lawyers, engineers, etc.

    • @lexluther3066
      @lexluther3066 5 лет назад +1

      The fourth industrial revolution is going to fail thanks to Trump's tariffs.

    • @lexluther3066
      @lexluther3066 5 лет назад

      National Association of Sociopathic Black Men Nope. You're just an idiot eager to eat some pikes.

    • @jobokidd
      @jobokidd 5 лет назад +1

      and can operate 24/7 the self driving trucks can drive 24 hours a day, no sickpay, no vacations required..
      #Yang2020

  • @breakdance4cash228
    @breakdance4cash228 5 лет назад +142

    I disagree with your argument at 10:30 because that's a twentieth-century way to look at a 21st century problem. truck drivers are not going to become coders and data analyst with government retraining programs, they didn't like schooling then, what makes I think they like schooling now? and a degree does not guarantee you a job.

    • @MMGJ10
      @MMGJ10 5 лет назад +6

      Stupid arguments repeated ad nauseam.

    • @MMGJ10
      @MMGJ10 5 лет назад +11

      Most truck drivers came from other fields. Many are extremely intelligent but have families they need to support so they go over the road where they can make excellent money to send home to their families.
      Do you think there's just going to be a switch flipped somewhere that ends all truck driving jobs? It'll be much more gradual than you think and people will ADAPT like we always do.

    • @breakdance4cash228
      @breakdance4cash228 5 лет назад +22

      @@MMGJ10 you dont get it, automation is replacing low income workers, UBI is inevitable, eventually 50% of the labor force will be replaced by automation. Just face the facts and enjoy your $1000 a month bitch

    • @politiekhistorie
      @politiekhistorie 5 лет назад +3

      @@breakdance4cash228 things like restaurants and tourism weren't a massive thing untill the 50s. Jobs won't likely be in industries active today.

    • @matrixman8582
      @matrixman8582 5 лет назад +9

      @@politiekhistorie Wtf are you talking about restaurants have been around since 1000+ years

  • @benmartin1727
    @benmartin1727 2 года назад +2

    a UBI would be appreciated here, allowing me to spend more time improving my farm, instead of working a day job to survive. Fertalizer and equipment cost a fortune, so it'll be years before the farm generates a decent income.

  • @cpunykurde
    @cpunykurde 4 года назад +4

    Pani Justyno, swietna robota! :) bardzo informatywny film.

  • @vilecrocodile9171
    @vilecrocodile9171 5 лет назад +5

    There was an experiment done with similar principles of UBI called Mouse Utopia. Interesting results.

    • @acex222
      @acex222 5 лет назад +2

      Mice are not people. Mice do not have the kinds of traits that separate people from animals. Read Human Action by Mises.

    • @isaacvitela5131
      @isaacvitela5131 5 лет назад +6

      @@acex222 that's not the point though, it brings up the case that having a purpose in life is what drives humans and even mice to live. like mice eat, sleep, survive, and reproduce. humans also eat, sleep and reproduce, despite our differences in behavior. having everything given to you with no need of effort eliminates the purpose of living. in which seen in the mice utopia experiment experiencing psychological stress. for humans bordem and feeling empty with a question on why we exist would cloud a lot of people's mind. like what's the point of me being a restaurant owner if people get food daily? etc.
      I may be no economics expert, but I look at both the short and long terms, especially when the real test of ubi comes in when times go horribly wrong.

    • @juliasutter6996
      @juliasutter6996 4 года назад +1

      @@isaacvitela5131 I think the loss of purpose due to lack of jobs is inevitable (see CGP Grey vid called "humans need not apply), but the UBI gives a safety net for people to figure out what *does* give them purpose. We will need to change as a culture from purpose through work to purpose through something else, like art or helping those in need.

    • @isaacvitela5131
      @isaacvitela5131 4 года назад +1

      @@juliasutter6996 while it is true that robots and a.i are removing jobs for people. UBI appears to act like welfare, except everybody regardless of what class you are gets 1000 dollars per month. Now having 1000 per month does sound nice on paper, but most people tend to ignore the obstacles that reality has placed along the way. Like the idea of the companies are going to comply with the added value tax,?a you can't stop them leaving the U.S unless you have to use negative force to make them stay. What about when the economy is hitting hard times? Will this only add even more debt to the national debt? Will people likely abuse the 1000 dollar system? What about those that are in debt with the government? as much as i don't to use the loaded question, but there are pretty realistic. Like i am currently paying my student loans back, but with the 1000 per month, i'm sure the government is going to take that money away as payment for the loan. Plus the big question is on how we are going to fund this that can do well in the short AND long term.

    • @TeenNewsLive
      @TeenNewsLive 4 года назад +1

      I think the main difference is that in Mouse Utopia they were given an abundance of resources and space. If UBI is made as minimal as possible while still being effective people would for sure still be inclined to keep working. There's more to life than paying rent and eating.

  • @RandyLy
    @RandyLy 4 года назад +4

    UBI exposes complacency from passion. If people didn't have to work really hard to get what you want, would they really strive to work harder or just accept things as they are and go with the flow?
    Of course, some would be OK given their basic needs, but boredom and passion may surpass this urge. This is where individual motivation, innovation, and finding your "what is your goal in life" kicks in.

    • @jeremytoney9367
      @jeremytoney9367 Год назад

      $1000 a month isn’t enough in my area sir to get by. The cost of living in the rural area where I live is about $1600 a month so if you want to live then you have to have a job and so complacency is not required, in fact, complacency is not an option. In most places around the country you would have to work because thousand dollars is not enough to pay everything it’s enough to provide a little bit of a cushion but it’s not enough to provide for rents which in Chicago the last time I checked were a minimum of $1400 a month, so you have to have a job you have to have some other source of income and for most people like me you need a job or you’re making 40 hours a week at at least minimum wage and I’m already at that point and I can still hardly get by so complacency is not the issue the issue is something else.

  • @ThankYouESM
    @ThankYouESM 4 года назад +2

    I believe there needs to be a newly structured zero-risk online survey job opportunity in which everybody is entitled to... as for earning a basic amount of income... maybe similar to UBI. The world united in such a way could boost progression a whole lot more.

  • @sbyrstall
    @sbyrstall 3 года назад

    I know people think it's a great idea, but I've hear stories from Alaska with this. The day many get their checks, people spend the money on alcohol and drugs. They don't use it for food, rent or education.

  • @privateprivate4384
    @privateprivate4384 4 года назад +2

    Will this adversely affect the sick and disabled and what about all those who are in receipt of state benefit. I think it’s a fantastic idea as long as people are protected from any losses in benefits?

    • @KurtvonLaven0
      @KurtvonLaven0 Год назад

      This is a well understood concern (although surely not by everyone!), and UBI is not actually intended as a replacement for all social programs, particularly not Medicaid or Medicare in the U.S. for example.

  • @williamoverton7775
    @williamoverton7775 5 лет назад +4

    this would only apply to corporations and not small business.

  • @lexluther3066
    @lexluther3066 5 лет назад +15

    Time to live in the woods!!!

    • @breakdance4cash228
      @breakdance4cash228 5 лет назад +2

      In the woods in Alaska? Where people are getting 1000-2000$ in UBI? Thats sweet dude :D

    • @jobokidd
      @jobokidd 5 лет назад

      Heck yes! Without UBI it'll be chaos

    • @sphereron
      @sphereron 5 лет назад

      Yeah, like anyone with a real life would ditch all there responsibilities and relationships for that. Funny

  • @jakobfredriksson2272
    @jakobfredriksson2272 5 лет назад +102

    Like many others in the comments im also wondering about pricing after an implemented UBI. If all (adults?) are given a fixed figure of money every month wouldn't the market soon are later adjust to this reality with increasing overall prices?
    Great channel btw!

    • @whatNtarnation90
      @whatNtarnation90 5 лет назад +29

      I think prices would increase slightly, but not much. Most businesses will have to pay employees more money, BUT many companies will also have less employees. I work at a casino in Vegas and MGM casinos recently replaced around 4 THOUSAND jobs with automation. The grocery store near me has taken out ALL manned check out counters, they're all self checkout now. Soon all call center jobs will be replaced, some medical professions, driving jobs, fast food, etc. So these places will be paying employees more, but much less employees.

    • @whatNtarnation90
      @whatNtarnation90 5 лет назад +13

      Oh and I forgot about retail stores, they're all being shut down due to online shopping like Amazon, while paying 0 in taxes

    • @sphereron
      @sphereron 5 лет назад +43

      In short, no they would not. Inflation only happens when more spending is created without anything to back it up. For example, the fed printing more money. But UBI is simply redistributing wealth, and the value is preserved.

    • @FakeAssHandsomeMcGee_
      @FakeAssHandsomeMcGee_ 5 лет назад +8

      There is no extra money being "printed" which is one of the ways to cause inflation. Also, companies can already operate at the current levels, so they don't need to charge more money to get by. Some will charge higher prices due to rising demand, but that will just be extra cash. There will be other companies that will try to undercut their competition and not raise prices. They can already operate at current prices, so they will keep them approx. at the current level. The companies that raised their prices will most likely then reduce their prices back due to lost sales to the cheaper competitor. This is capitalism.

    • @arcosiancosine1065
      @arcosiancosine1065 5 лет назад +18

      @@FakeAssHandsomeMcGee_ I don't think you guys understand how capitalism works. It doesn't care about feelings or morals or ethics. It only cares about profits and when your customers have $12,000 a year extra to spend you can bet your ass capitalism will milk them dry.

  • @devinseymour7321
    @devinseymour7321 4 года назад +48

    The jobs that you discuss as being "unaffected" by automation are those careers that account for a tiny fraction of employed persons (archaeologist here). It is absurd to pass automation off as some overinflated alarmist cry. The reality is that 30% of manufacturing jobs have been lost to automation, and those jobs are not replaced by ones quantitatively or qualitatively better. Also, Andrew Yang's concept of production taxation is a quite ingenious way to curb the high cost, and, in fact, likely totally fund such an incentive. Also, what makes you believe that it would curb productivity? Having access to only baseline need income does not pacify one into discarding ambition. People will work to increase their disposable and investable income.

  • @mrbam8833
    @mrbam8833 5 лет назад +107

    It all about the impact of automation and technology! Even 20 years ago we couldn't have predicted iPhones, RUclips, Facebook, Cloud Computing and most importantly A.I and Machine Learning! Buckle your seatbelts the world is probably gonna go thru the biggest economic shift since the industrial revolution! We can't apply old theories to a new age problem!! Let's give UBI a try!!

    • @mr.motivation3797
      @mr.motivation3797 5 лет назад +4

      Get your unamerican, traitor, communist ass outta here. You fucking moron.

    • @jobokidd
      @jobokidd 5 лет назад +32

      @@mr.motivation3797 It's totally American, a form of Capitalism and totally the logical way to go.
      #Yang2020
      #YangGang

    • @Sora_Nai
      @Sora_Nai 5 лет назад +23

      Capitalism that doesnt start at 0

    • @anandsuralkar2947
      @anandsuralkar2947 5 лет назад

      True

    • @anandsuralkar2947
      @anandsuralkar2947 5 лет назад +4

      @@mr.motivation3797 lol american dumbass with name(mr.motivations) has most unmotivated and unmotivational ass in this world

  • @PUXXYCAAT
    @PUXXYCAAT 4 года назад +14

    the basis of our existence isn't to work... it's creation

    • @spamface5162
      @spamface5162 4 года назад +4

      But you don't have a right to have all your expenses paid by someone else. You need to be able to eat too. For that you must earn money; it is immoral to steal it.

    • @Dennis-nc3vw
      @Dennis-nc3vw 3 года назад +1

      Work is creation.

    • @tinman7814
      @tinman7814 3 года назад +1

      @@Dennis-nc3vw and creation is work

    • @cooladam2167
      @cooladam2167 3 года назад +1

      Of course one of YOU would think that.

    • @PUXXYCAAT
      @PUXXYCAAT 3 года назад

      @@cooladam2167 ohhhhkayyy gimme your stimulus then

  • @jobokidd
    @jobokidd 5 лет назад +93

    It wouldn't be sipping cocktails by the pool, those cocktails are expensive. The UBI proposed by Yang is only $12k per year which is crazy low for most families. Wouldn't cover most peoples Health Insurance premium or rent/mortgage.
    #YangGang

    • @jeffreyrodriguez1913
      @jeffreyrodriguez1913 5 лет назад +6

      Hell naw #Nobody2020 stop voting for con artists who are in love with publicity.

    • @jobokidd
      @jobokidd 5 лет назад +11

      You mean like the guy that collected massive corporate donations & gave tax cuts in response. None of that trickled down.
      Pfizer -->
      Donations to GOP: $16M
      Tax Cut Received: $39B
      GE-->
      Donations to GOP: $20M
      Tax Cut Received: $16B
      Chevron-->
      Donations to GOP: $13M
      Tax Cut Received: $9B
      It's socialism for the rich in exchange for campaign $$$
      We need a new Leader

    • @jobokidd
      @jobokidd 5 лет назад +6

      Wasn’t there a “beautiful” healthcare system promised?? Beautiful for who?
      Pfizer -->
      Donations to GOP: $16M
      Tax Cut Received: $39B
      Chairman & CEO - compensation $19M
      Profits $53 Billion
      Pfizer beats profit estimates but lowers its 2018 revenue forecast
      What did the people get for their loss of tax dollars in this scenario?

    • @LostxToxAxSnail
      @LostxToxAxSnail 5 лет назад +4

      at the very least it'll help families who are living paycheck to paycheck have a little more support. Sadly, people who have an issue with spending won't benefit at all or will most likely acquire more debt relying on their $1000 check to come in.

    • @Modestasgailius
      @Modestasgailius 5 лет назад +4

      @@LostxToxAxSnail people thing that everyone will become lazy and fall into their comfort zone. I doubt that would happen because the money is sill extremely low it will cover your survival and thats it no more, and you will still need to be lucky to find a cheap place and survive on packets of noodles so i dont get it why people think that way, UBI if not now in the future will happen because there will be little to no jobs available for the masses.

  • @claudiasutton8240
    @claudiasutton8240 4 года назад +12

    The government gets great salaries and healthcare for doing nothing.

  • @FakeAssHandsomeMcGee_
    @FakeAssHandsomeMcGee_ 5 лет назад +139

    The number that gets thrown around is $1000 per month or $12000 per year. That is not enough to just retire for the rest of your life, but enough to act as a shock absorber or for those unexpected payments while you earn money elsewhere. So if you want a good life (home and a car included), you will need to get a job to supplement the UBI payments.
    I think this is a very good idea. We in America love to be inefficient and to spend money the worst way just for ideological reasons. If we help the needy rich all the time, we should help everyone who is below that level.

    • @iwellbreastfed
      @iwellbreastfed 5 лет назад +13

      Agreed. Those above us have gotten so many tax breaks. I was skeptic at first. But if it supports inventors and progress I'm for it.
      We've lost that

    • @joemann7971
      @joemann7971 4 года назад +11

      UBI is meant to be a minimum income to replace social security. It's not really meant to replace work. I like to see UBI sort of like giving you a power-up in a game of Mario Kart. You still need to do the racing (aka work), but the power up is there to help you out so you dont fall too far behind.
      It's like having a safety net underneath you 100% of the time. Currently, the safety net gets removed if you gain too many assets. If you own a car worth more than $5000, you wont qualify for some of the services unless you sell it. Those programs effectively keep you in poverty.
      This is another great video to watch on UBI.
      ruclips.net/video/kl39KHS07Xc/видео.html

    • @powerstroke304
      @powerstroke304 4 года назад

      I agree to the whole "get off your ass and do whatever you can" thing but the bottom line needs to be a tiny bit higher to just leave it at that. One thing is though, the outcome depends on if we all actually get our shit together and do good instead of dumb stuff

    • @JeffreyGillespie
      @JeffreyGillespie 4 года назад +1

      Right, exactly, it's designed as a buffer for people who really need it and could be saved or spent by the people for whom it was a bonus. If I got it, for example, I would divide it by my estimated annual income and take that number of hours off of my work week to do other things, like hang out with my family or hike.

    • @boggless2771
      @boggless2771 4 года назад

      Dude. I know that if my friends an I got into a group of 4, we would live our lives playing video games and with 48k a year, 4 can live pretty comfortably. Maybe one of them works and the rest do stuff around the house. Either way, you have a significant decrease in the number of people working.
      The only way it works is if you abolish every other type of welfare and close the borders. This is only a replacement for social security and welfare, not automation insurance.
      Also with automation, everything will get significantly cheaper, to the point that it will eventually become almost free. In fact it will become free. The people who invested in making all of the robots did that expecting a profit, but what are they going to do if nobody has money? Get rid of their automation? Nope, they're going to have to "sell" or trash their products, they're not doing anything anymore anyway. At that point, progress will be made by people who are driven by non-monetary gain, like how I believe Elon Musk is for example.
      Sounds like a socialist utopia, i know, but thats because of socialist propaganda. It's not socialist, its just post-scarcity which is the goal of all economic systems. I doubt this will happen for a long time, unless a general artificial intelligence gets created. Probably more than a hundred years.
      And people (or not people) will invent machines to create stuff they want, which will get automatically produced by a general-purpose assembly line that is completely automated by a very good narrow artificial intelligence. What do they have to gain? Their satisfaction of using unlimited of the thing they wanted in the first place.

  • @SplitPersonalityBPD
    @SplitPersonalityBPD 5 лет назад +51

    Elon Musk said this was bound to happen years from now. I can't remember the clip but he was talking at an event about it.

    • @matrixman8582
      @matrixman8582 5 лет назад +6

      He is wrong.

    • @matrixman8582
      @matrixman8582 5 лет назад +3

      @@juneauxmader9893 Why? Cuz he's a billionaires? Don't you think he might have a personal stake in UBI?

    • @matrixman8582
      @matrixman8582 5 лет назад +2

      @@juneauxmader9893 So just cuz he's accomplished means he's not gonna further his self interest?

    • @matrixman8582
      @matrixman8582 5 лет назад

      @@juneauxmader9893 Self employment

    • @matrixman8582
      @matrixman8582 5 лет назад

      @@juneauxmader9893 Not as worthless as UBI

  • @danieldelatorre7829
    @danieldelatorre7829 5 лет назад +69

    How could this be any worse than companies demotivating their work forces with shitty corporate work culture. The difference between this, and corporate fuedalism is people actually have some leverage with ubi

    • @benevolentautore4463
      @benevolentautore4463 4 года назад +6

      The cost to everyone actually working, that's how.

    • @jordanclark4635
      @jordanclark4635 4 года назад

      JG the ones who also get the money? 🤔 tit

    • @mr.anderson1454
      @mr.anderson1454 4 года назад +6

      Capitalism is an obsolete and unjust system. UBI is a way for capitalist to not only retain their concentrations of wealth and power in the future when capitalism becomes mostly obsolete. But a way to even obtain higher concentrations of wealth and power in the future when human labor is no longer needed. They will control everything. And they will decide what basic allowance we are allowed while they control the wealth and resources. Jeff Bezos and other billionaires and corporations are already starting to push UBI.

    • @benevolentautore4463
      @benevolentautore4463 4 года назад +4

      @@mr.anderson1454 Except that it's the only system that actually works to make everyone wealthier. There isn't a single healthy country on Earth that doesn't have capitalism as a component of it's economic system.

    • @mr.anderson1454
      @mr.anderson1454 4 года назад +3

      @@benevolentautore4463 you can say that about socialism as well. I would argue the more socialism a country has the more happy and health the country is.

  • @suasponte8363
    @suasponte8363 5 лет назад +13

    Thats communism at its finest. When Germany sucked up the DDR, some of the biggest issues with the work force was zero motivation and no clue about a competitive job market.
    We already have millions like that after decades of welfare. So for example if you're on welfare and get this UBI and you still get welfare....do you get both?
    This is such a great idea but what do we do when the country goes bankrupt within a few monthes you dumbshits?

    • @MMGJ10
      @MMGJ10 5 лет назад

      @Tasters Choice Exactly, a thousand bucks isn't a lot of money per year and that argument will be made to expand it to 2 and then 5 thousand etc. It's literally communism. Only indoctrinated fools would think it would be a good idea

    • @acex222
      @acex222 5 лет назад +2

      I guess Friedman was a communist

    • @GreenSamurai2
      @GreenSamurai2 5 лет назад +5

      @dskmb3 "Friedman didn't advocate UBI."
      Only by name. He was in favor of every principle a UBI stands for. His preferred plan was an NIT (Negative Income Tax). You would be paid if your wages were under the poverty level, no matter what.
      That sounds like an unconditional basic income to me. I just wish people that defend your stance were not so pedantically sophist.
      The problem with an NIT is that you need a month buffer for every emergency. Not easy under the poverty line, you could lose your house if the rent is due and your check stub is not up to date. UBI is just easier to implement and maintain. Especially now with unreliable wage jobs (Uber, Lift, exc..) being more prominent for the working poor.

    • @Koushi82
      @Koushi82 5 лет назад +2

      No you choose welfare or the ubi it is said not both.
      Also free money is only given if you make below a certain amount right now.
      If you give it to everyone right now. Regardless I'll still find work.
      But that is me. I still want to volunteer or find meaningful work. I'm a rarity though.
      Junk jobs like McDonalds are worthless I rather they just automate it completely.
      Also no ubi based on babies. U dont get ubi with each child popped out.
      Musk and Zuckerberg are right here imo.
      Also min wage jobs should not be counted as work.
      1/3 of income = rent in location
      Else it is not real work.

    • @GreenSamurai2
      @GreenSamurai2 5 лет назад +1

      @dskmb3 "So it's not universal."
      Yes, it's universal.
      Universal - 1. Of, relating to, or affecting the entire universe.
      2. Including, relating to, or affecting all members of the class or group under consideration; applicable in all cases: synonym: general.
      3. Done, produced, or shared by all members of the class or group under consideration.
      Except for the first definition, universal, applies to all the individuals making up the group in question and nothing else.
      "What don't you understand about the word universal?"
      It's about what you don't understand about the word universal. Universal programs apply to everyone but can and mostly do have conditions. You are thinking of unconditional, aka without conditions.
      So universal applies to groups of individuals and unconditional applies to conditions on a policy.
      "I'm not being a pedantic sophist."
      How about obtusely ignorant? Because "You're just 100% wrong."

  • @gurumage9555
    @gurumage9555 5 лет назад +71

    This is eventually bound to happen in developed nations as more and more jobs gets replaced by robots.

    • @MMGJ10
      @MMGJ10 5 лет назад +2

      Who's going to make all those robots?

    • @gurumage9555
      @gurumage9555 5 лет назад +17

      @@MMGJ10 Robots.... And the few with high programming skills.

    • @MMGJ10
      @MMGJ10 5 лет назад +12

      @@gurumage9555 if there's a huge demand for robotic engineers people will fill that demand. This incredible nonsense that people believe about robots replacing everyone's jobs is ridiculous.
      It's like comparing that to large excavating machines replacing 100 men with shovels. Those 100 men will find new work that's probably better and society advances.. With your logic it's better to stay in the dark ages

    • @gurumage9555
      @gurumage9555 5 лет назад +5

      @@MMGJ10 Not everyone would be good at/ selected/ to have job in robot engineering. Just like how everyone can't be a pilot.
      There'll be a lot of demand for less available job opportunities, means more people would get turned down.
      And you're right robots would never completely replace humans... And that is not what I'm arguing.
      My argument is that Robots and automation would eventually start taking a huge chunk of potential job opportunities.
      Meaning more competition for less job spots. And more human laborers displaced by robots.

    • @MMGJ10
      @MMGJ10 5 лет назад +4

      Your comment seems to have disappeared. I disagree. Jobs may be lost but people will continually find new ways to serve one another and our needs and wants, so jobs really aren't lost they just change and people adapt to new opportunities.

  • @vamoscruceros
    @vamoscruceros 3 года назад +9

    This is what I'd propose for the United States:
    $12,000 for everyone, although for those born after UBI is implemented, there is a mandatory Roth IRA contribution of 10% ($1,200) from birth to age 18. UBI would not count as taxable income. The cost would just be under $4 Trillion a year.
    Individual income above the standard deduction would be taxed at 12% higher than the current marginal rates - i.e., 10% becomes 22%, 12% becomes 24%, etc. A single person with a $35,000/year job would pay $2,694 more in Federal income tax (using the 2021 brackets) but still come out more than $9,300 ahead. The break even point for a single person with no dependents is $112,550/year (the standard deduction plus $100,000). This pays for $1.331 Trillion of UBI.
    The US does away with the dependent tax credit ($37 Billion), EITC ($63 Billion), and other forms of welfare ($569 Billion). That gets us up to an even $2 Trillion.
    We raise the corporate marginal tax rate by 14% to riase another $568 Billion.
    We then cut Medicaid ($448 Billion), and reduce Social Security Benefits by the amount of UBI ($816 Billion). The goal is to keep everyone on Social Security from having their total benefits being decreased.
    I'd tax all capital gains as ordinary income ($45 Billion).
    Ideally I'd squeeze the last $133 Billion out of defense, but some other benefit programs run by Social Security for disability or survivors may be on the chopping block here as well.

    • @lylecosmopolite
      @lylecosmopolite Год назад

      I propose a lifetime refundable income tax credit of $8000/person/year. Before their children's 18th birthday, parents would receive the UBIs to which their children would be entitled.
      It would be very easy to estimate the total cost of the UBI = 335M persons x $8000/person = US$2.7 trillion. The $8000 amount would be indexed to inflation.
      Social Security and unemployment benefits would be fully taxable.
      UBI + Medicare + Medicaid + section 8 housing vouchers => End of poverty-line poverty in the USA for all but 1-2 member households.
      All income tax deductions, including the standard deduction, and tax credits would be abolished. Exception: capital expenditures by business, which would be fully expensed in the year incurred. Unused capital expenditures would carryforward indefinitely, and accrue interest at the T bill rate. FICA tax collections would be credited against employer tax liabilities.
      Employers would credit FICA tax collections against their flat tax liabilities.
      Break-even income for a single person, assuming a tax rate of 33.33% = $24K/year. For a family of 4, break-even income = 4x$8000/0.3333 = $96000.
      The only persons required to file tax returns are the self-employed.

    • @jeremytoney9367
      @jeremytoney9367 Год назад

      I think you have a good reasonable plan with a few tweaks probably would be a very good thing. For me a person who makes less than 20,000 a year universal basic income would be a godsend. I’m over 40 years old so getting an extra thousand dollars a month and making sure that my rent doesn’t go up $1000 a month is the issues that would have to be worked out because I don’t want that money eaten up by excessive costs such as gas going up to nine dollars a gallon or $10 a gallon. I would not want my pay to decrease because of higher corporate taxes and since I work for a small company, I wouldn’t want to lose my job or have the man close his business down so I would lose my job if provisions aren’t made for that kind of thing. I do think we need universal basic income of somewhere between 12 and $15,000. I also think that we need to eliminate some of the social programs that are there we need to eliminate some of the programs that keep people in bondage that cost them hundreds and hundreds of dollars and potentially in the long run most of the rest of their life. We would also need to update this, so that people in prison can actually have access to this as well, so that they are getting out of prison with nothing. People that are spending 10 2030 years in prison if they’re getting universal basic income and you were to divide it up in a certain way they could put 20% in the savings for the amount of time that they’re in prison from the start till the end use 30% for their living expenses so that the government doesn’t have to pay for the prison system anymore so that would eliminate a lot of the problems with tax dollars and prisons and everything like that and then you take part of it. You give it to their children if they have any if not, then you put it into an investment account that pays them dividends for the amount of time they’re there. So basically if a person is sitting in prison right now, use 20% to, make sure that they are fed and housed every year you take another 20% you invest that into a dividends bearing program that allows them to get paid so they have a stream of income beyond universal basic income and everything like that and it just gets bigger and bigger so after 10 years, they have a massive investment fund so that they don’t get out of jail and have nothing. Then you take 20% and you would use it to support either a savings or some other type of thing that would allow them to do the other things necessary now I’m not sure about the last 40% but I do know that if they had children than 20% of the income we go to support their kids but it’s all with the understanding that they are taught how to utilize and manage this money which means that everybody would have to go through education program on how to utilize universal basic income but you are correct. You’ve got that basics down Pat and I think you are correct we do need universal basic income. Thank you for your comment.

  • @HardKore5250
    @HardKore5250 5 лет назад +61

    All answered by Yang

    • @mr.anderson1454
      @mr.anderson1454 4 года назад +5

      Capitalism is an obsolete and unjust system. UBI is a way for capitalist to not only retain their concentrations of wealth and power in the future when capitalism becomes mostly obsolete. But a way to even obtain higher concentrations of wealth and power in the future when human labor is no longer needed. They will control everything. And they will decide what basic allowance we are allowed while they control the wealth and resources. Jeff Bezos and other billionaires and corporations are already starting to push UBI.

    • @joemann7971
      @joemann7971 4 года назад +14

      @@mr.anderson1454 They already control wealth and resources, if you didn't know. The UBI isn't controlled by the wealthy. It's controlled by the government. You need to get money out of politics out of the government.
      Why would the rich want to hand over part of the resources to the poor if they aren't working to earn those resources? Pragmatically, it makes no sense for a rich person to want to hand over 10% of their wealth to the poor so they could buy more shit, when they would just be better off without the poor buying anything, and them keeping their 10%.
      I dont think you thought it through, but nice try in trying to smear UBI.

    • @mr.anderson1454
      @mr.anderson1454 4 года назад +3

      @@joemann7971 you haven't thought it through. please think further.
      if the capitalist oligarchs dont support ubi than capitalism will fall apart. most people will be starving eventually. people will be showing up at jeff Bezos mansion in Malibu with pitchforks.
      ubi is a form of life and home insurance for ultra-rich capitalist.

    • @danielvalleduarte
      @danielvalleduarte 4 года назад +2

      @@mr.anderson1454 screengrabbed and sharing...although, as a disabled vet...a guaranteed 1600 is paying most of my rent, right now. I think the homeless could definitely use 1000 a month, but when i lived in a homeless shelter with vets, many had disability coming in, but they just spent it all on....life. they couldnt save. If they were at 100% dis, they were too crazy to use it wisely. It flows to the rich

    • @mr.anderson1454
      @mr.anderson1454 4 года назад +3

      @@danielvalleduarte
      you are exactly right. that's why yang calls it trickle up economics. at the end of the month most will be broke while jeff bezos makes 250million per day.
      yangs ubi is a shity right wing capitalist system.
      I would call it neo feudalism. a very small minority own everything robots and all. while most receive a poverty dividend.
      we need to end capitalism. its the only way.

  • @MrGrimsday
    @MrGrimsday 5 лет назад +5

    There is no maybe AI will take jobs they already are people. Stop thinking with an old fashioned mind set. Ubi will happen weather you like it or not. Ai improves our life freeing up time so we can follow our true dreams yes we loose job's but they pay for it. I would be proud to pay a tax that would benefit my brother's and sisters of America

    • @mr.motivation3797
      @mr.motivation3797 5 лет назад

      @dskmb3 Im with you

    • @jobokidd
      @jobokidd 5 лет назад +2

      @dskmb3 During the Great Depression unemployment reached 25% AI is predicted to reach 50% possibly 75%. That would wreck the economy. UBI is to help prevent that from happening. It's not so some lazy assholes can do nothing. When people are jobless, hungry and homeless, they will turn to crime, rioting etc. Would you prefer that or UBI?
      #Yang2020

    • @___von___7377
      @___von___7377 5 лет назад

      #GangBangYang2069

    • @jobokidd
      @jobokidd 5 лет назад

      @dskmb3 Are you saying you'd rather have billionaires raking in billions, than have a redistribution of money that is already there, paid back to the people in the form of UBI? Jeff Bozo doesn't need another mega yacht! But millions are struggling financially. Why are you arguing to benefit the wealthy and not the regular people??
      UBI is a smart solution to a plethora of problems, poverty, income inequality, freedom!!! We will have anarchy & civil war if we don't have UBI! Because when the full tilt of the Automation job apocalypse hits, that's about 70 MILLION people without jobs to go to. What do you think will happen then??? One truck driver just lost his job in Texas & shot up 20 people. What happens when trucks become fully automated and 3 MILLION of them lose their jobs?? You need to really start looking into this so we can prevent a Depression worse then the Great Depression - which had Unemployment of 25%. Listen to Andrew Yang on the Joe Rogan youtube podcast or listen to his book on youtube for free, "The War on Normal People", we are at war right now, and the string pullers are trying to make you scared of what is actually good for you and all of us..Universal Basic Income www.yang2020.com

    • @jobokidd
      @jobokidd 5 лет назад

      @dskmb3 your lack of respect to someone willing to discuss this shows exactly the type of person you are. You're probably the type of person that could be helped by this Policy but have been so brainwashed you can't see it. Who are you voting for and why? I'm genuinely curious about what policies matter to you and how they directly benefit you and regular people.

  • @gustavohopkins242
    @gustavohopkins242 4 года назад +2

    I hate the tech creates job arguement. Or that robotics wouldnt lower the amount of jobs. As if there are no consequences to it until you really examine it. A job will be lost in a state or city and the job that was created by the change could be on the other side of the country to someone with way different skill sets and totally different demographics.
    You still hurt the original employee. They may never recover or see benefits from the jobs created. They may forced to stay where they are by debt obligations and may never be able to retrain thier skill set because of the need to cover thier financial obligations.
    However UbI solves this problem 😂 giving the person a cushion to restructure thier life

  • @victorrosales9985
    @victorrosales9985 5 лет назад +9

    Let's give it a try for 1 year in the U.S then record data and see if it works you cant disprove or prove a theory until you tried it.

    • @whatNtarnation90
      @whatNtarnation90 5 лет назад +6

      You might have missed it, but there have been 1 year trials before but the data isnt accurate because people will behave differently when the UBI is only for a year, vs indefinitely

    • @juliasutter6996
      @juliasutter6996 4 года назад

      @@whatNtarnation90 have there been any cases where they told people they were getting it forever but only gave it to them for a year? That might solve the bias

    • @whatNtarnation90
      @whatNtarnation90 4 года назад +2

      @@juliasutter6996 No. I thought that'd be a good experiment too, but at the same time it could really fuck them.. What if they buy a car or house they can't afford without the UBI lol

    • @CarFreeSegnitz
      @CarFreeSegnitz 3 года назад

      No need. It’s been instituted in Alaska as the Permanent Fund since 1976. It varies based on oil revenues. It topped out at a bit more than $2,000 per person in 2015, in 2020 it was roughly $1,000. Not much but then an industrious person doesn’t need much in Alaska.

    • @footyball66
      @footyball66 Год назад

      They should just ask people what they would do. I think most people would be honest and accurate with what they decide. Assuming the UBI payment was the same as my current salary, I'd likely continue to work, but only 2 or 3 days per week, rather than 5. I think most people would get bored if they retire as soon as UBI starts. For most people between the ages of 18 and 45, they wouldn't be able to live a particularly fancy life on $25,000 a year. I'd assume most people would work at least a day or 2 per week to top up their income and to keep them busy. Maybe have a rule, to qualify for the UBI payment you need to work at least 12 hours per week.

  • @goku-pops7918
    @goku-pops7918 4 года назад +8

    How do you stop inflation? When everyone knows that everyone else has an extra money

    • @allanjeong
      @allanjeong 3 года назад +7

      Does UBI increases inflation?
      **Competition: **If company A raises its prices, consumers will switch to a different lower cost brand. Also, competitors jump into the business when there’s more demand for goods or services, which increases competition & drives down prices. Ford built first mass produced car. Today, there are 60 major automakers in the world.
      **Relevance: **Look at it another way. The problem #UBI is trying to solve is the problem of low wages. So what ever solution you choose to use to raise wages (UBI or not), you’ll still have the same question as to whether raising wages will increase inflation, right?
      **Dynamic Macro Market Forces: **Rent in big cities will drop drastically with UBI because 27% of Americans wish to live in small towns (Gallup2018) but won’t because there are few if any jobs there. But UBI of $10million/mo or $120mil/yr to town of 10k adults, for example, will revitalize local commerce ( e.g., increase demand for a local coffee shop on Main Street to begin reversing the spread of economic blight).
      When that happens, the 27% will move to small towns (where they can reap the rewards of buying a house at less than one year’s city rent & lower cost of living) using UBI to cover moving expenses.
      Any mass exodus from big cities of this magnitude would most certainly drive down the price of big city rent, and those that elect to stay in the city will benefit from this as well.

  • @pierre-rose7783
    @pierre-rose7783 3 года назад +8

    Just imagine how many people will be able to go to the dentist !

  • @TruDruDragon
    @TruDruDragon 5 лет назад +48

    Andrew Yang has my vote all day

    • @alp.9672
      @alp.9672 4 года назад +2

      This aged well.

    • @B00B13S_L0L
      @B00B13S_L0L 8 месяцев назад

      Yes, giving people money for doing nothing

  • @danielvalleduarte
    @danielvalleduarte 4 года назад +26

    Milton Friedman loved UBI, and he was right wing as hell.

    • @spamface5162
      @spamface5162 4 года назад +6

      That's wrong. He saw it as a preferable alternative to current welfare, but ultimately it was still bad.

    • @subhadityasen5486
      @subhadityasen5486 4 года назад +2

      But the amount was very low so you had to look for a job to actually have a life not just survive.

    • @AnonyMous-og3ct
      @AnonyMous-og3ct 4 года назад +6

      Friedman preferred NIT (negative-income tax) which is a slightly different system from UBI. It's not universal. And, as pointed out, it was mainly a compromise to the existing maze of welfare programs we have with all their perverse incentives.

  • @anonymousreport9234
    @anonymousreport9234 3 года назад +5

    We need UBI to release technologies firms to deploy their automation for a better world

  • @EconClips
    @EconClips  5 лет назад +7

    Nice to see that our viewers are not into this "free money" idea

    • @JesusChrist-rf9wn
      @JesusChrist-rf9wn 5 лет назад

      Racist!!!!!!

    • @MMGJ10
      @MMGJ10 5 лет назад

      @@JesusChrist-rf9wn Jesus?

    • @breakdance4cash228
      @breakdance4cash228 5 лет назад +3

      Nice to see your viewers are dimwits who refuse to look at the data behind the benefits of UBI, Alaska has had UBI for more than 30 years! Wake the fuck up America!!!

    • @jobokidd
      @jobokidd 5 лет назад +1

      UBI is not free. The Automation technology was inherited by us all.
      If a company replaces all its Employees with Robots they reduce their costs too. If the VAT is charged taking a portion of the "No Human Employee" savings the UBI would not cost more.
      EG Amazon replaces more workers with robots (which is happening), reduces it's costs by 20%
      Add a VAT of 10% to all purchases, the cost is still 10% less and we all benefit when the VAT is converted to UBI. It's a trickle up system. The UBI is also so low, that there is still incentive to work when able to raise your living standard. Think about it, could you live on $12K a year? My colleague pays $25K a year in Health Insurance alone, my prior home taxes were $12k a year. So no I don't think it will cause inflation nor will it cause laziness. But it will prevent starving homeless people #Yang2020
      www.livemint.com/companies/news/accenture-to-sell-automation-software-that-allowed-it-to-cut-40-000-jobs-1548768068351.html

  • @danielnutter2655
    @danielnutter2655 3 года назад +3

    UBI is the second coming of the minimum wage and will fall to the same stagnation and decay. The minimum wage was meant to be a livable wage that would support an individual and family but now can't even cover the cost of basic housing. We do need to start planning for something however as large sectors of employment are on the cusp of being automated out of existence and dignified low skill work being made obsolete.

    • @AnimMouse
      @AnimMouse 3 года назад

      We have minimum wage, a regulation, it failed, now we are replacing with UBI, another regulation. What about if we stop this regulations altogether.

    • @danielnutter2655
      @danielnutter2655 3 года назад

      @@AnimMouse laws and regulations are essentially the rules that the government writes, supposedly to fix a problem or for the common good, usually in response to incidents or public sentiment. The lack of government regulation doesn't mean there are no rules but instead that the rules are decided by whoever fills the power vacuum, usually a corporation that is even less accountable than our corrupt government representatives.
      If you look at our history you'll know that deregulation is not the answer. Without regulations poison and rot would be mixed into the food most buy, the rivers would be flamable and bought water potentially hazardous as well. Without regulations every project would still have a body count, jobs would still commonly maim and kill, and employers can treat their workers as slaves with shackles and beatings. Without regulation pay would likely be in script and a pay freeze would still mean that they chose not to pay workers for the period. Scammers and cheats would abound with newly built houses collapsing like matchstick and quacks prescribing leeches or exorcism.
      On the subject of wages alone the economic policy institute estimated that annual wage theft was likely greater than all other criminal theft combined. For large restaurants wage theft is standard industry practice with over 80% paying below the minimum wage, or having them work either off the clock or at nontipped tasks excessively.

    • @AnimMouse
      @AnimMouse 3 года назад +1

      @@danielnutter2655 "supposedly to fix a problem or for the common good" Minimum wage are "supposedly" to fix a problem. Yea, what now?
      "the rules are decided by whoever fills the power vacuum" Corporations has no power, they cannot force their customers to buy a specific item. Govt. regulations is the one that creates monopoly.
      "corporation that is even less accountable than our corrupt government representatives" If a corp. made something wrong, they lose profit. If a govt. official made something wrong, how long it takes for them to get removed from office?
      "If you look at our history you'll know that deregulation is not the answer." Are you sure about that?
      Killing your customers is not profitable. Destroying our environment is also not profitable.
      "employers can treat their workers as slaves with shackles and beatings" Slavery is caused by the govt. regulation, there is no slavery back in time when govt. did not right laws allowing slavery.
      "Without regulation pay would likely be in script" Then workers leave finding other employers that has more pay.
      "Scammers and cheats would abound with newly built houses collapsing like matchstick" Compare the no. of collapsed public vs private housing.
      "quacks prescribing leeches" The customers should have a right to choose their doctors.
      Wage theft? Employment is a mutual agreement, there is no employment if the other side is losing.

    • @danielnutter2655
      @danielnutter2655 3 года назад

      @@AnimMouse The regulation is not the problem as can be seen by more effective systems in Europe working better as they are directly tied to inflation. The US minimum wage was designed to stagnate and decay by the way it is set up because congress has always been more beholden to the rich than the people. If we had an effective government for the people, we would review regulations to see if they are being effective in their design and reform, modernize, or rewrite as appropriate, but we do not.
      You say that at the same time that we have massive corporate consolidation and our current cooperative oligopolies (cartels in all but name) are not much different than monopolies and aren't monopolies only due to anti trust laws. While the government can create monopolies they are also created by the actions of those seeking to maximize gains from the market as well such as old trusts like standard oil.
      {"If you look at our history you'll know that deregulation is not the answer." Are you sure about that?} looks at historical conditions prior to the labor movement and consumer protections: YEP! I'd rather not be chained to my workstation for the entire day, risk maiming, be beaten for any reason, and then not get paid because my employer wanted to save money.
      "Killing your customers is not profitable. Destroying our environment is also not profitable." Cigarrettes/oil and gas industry. While it is not profitable and even damaging for society as a whole for those who get away with offsetting costs onto others it is VERY profitable.
      Slavery has existed throughout the entirety of human history because of the greed of man, furthermore the conditions I mentioned were for supposedly 'free' workers during the industrial revolution.
      "Then workers leave finding other employers that has more pay." Again do you know absolutely nothing of history. It is called blacklisting, peonage, and debt slavery. If you pissed off your employer for any reason nobody in town would hire you to do anything if the companies guards didn't cripple or kill you. There is a reason that the US did not have any restrictions on immigrants until AFTER the labor movement. Prior to that the wealthy wanted as many people in as possible to keep the workers desperate for employment/survival and replace all of those they regularly killed or maimed while doing business. Now they use immigrant labor and keep them in line by threats of torture under ICE detention, or regular workers renamed 'contract gig workers'.
      Public housing utterly reeks with corruption, when we can create a tiny home that lasts for 10 years for $5000 why are we spending $200,000 a unit for giant complexes. It is marketed as helping the poor but is in actuality a giant giveaway to the wealthy since with the same investment we could feed, clothe, and house them in a tiny home village.
      While consumers have the right to pick their providers they should also have the right to know that the professional is qualified.
      Before you even mention public boycotts only those businesses that directly interact with the public and stay in the public eye need to fear them. The rest can easily escape these by rebranding or making grand public promises and plans that they abandon as soon as the heat dies down.
      You seem to imply that all mutual agreements are mutually beneficial regardless of the power dynamics in play. You could say that paying protection money is a mutual agreement between the store owner and the mob but only one really benefits. Ensure peoples survival and I bet many wait staff will no longer be willing to work at restaurants for the right to beg for tips and tithe a portion of the donations to the owner.

    • @AnimMouse
      @AnimMouse 3 года назад

      @@danielnutter2655 Most rich countries in Europe do not even have minimum wage, like Sweden, Denmark, Iceland, Norway, and Switzerland.
      "standard oil" Saying Standard Oil a monopoly is like saying Google, Facebook, RUclips a monopoly. They are not. Having higher market share does not mean monopoly.
      "looks at historical conditions prior to the labor movement and consumer protections" You mean prior to capitalism?
      "I'd rather not be chained to my workstation for the entire day, risk maiming, be beaten for any reason, and then not get paid because my employer wanted to save money" No wonder why businesses today are richer than the richest business at that time.
      "Cigarrettes" Also alcohol, Coca-cola, McDonalds, right? Blame the consumer, not the producers. No wonder why prohibition era fails.
      "oil and gas industry" The benefits of oil and gas is greater than the damage it has done. You want Stone Age where there is no pollution?
      "offsetting costs onto others" To whom?
      "Slavery has existed throughout the entirety of human history because of the greed of man" Greed, the reason why they are poorer compared to us today. Slave owners don't know that their productivity will increase when they set those people free.
      "blacklisting, peonage, and debt slavery" That is why there are not rich compared to us.
      "pissed off your employer for any reason nobody in town would hire you to do anything" What is the reason why you pissed off your employer in the first place?
      "Prior to that the wealthy wanted as many people in as possible to keep the workers desperate for employment/survival and replace all of those they regularly killed or maimed while doing business." They are not wealthy. Never wealthy.
      "Now they use immigrant labor and keep them in line by threats of torture under ICE detention" But today they have right to leave their work.
      "Public housing utterly reeks with corruption" Thanks government
      "should also have the right to know that the professional is qualified" How do you make sure that the professionals is qualified? Let a private sector do the work, or the public sector? No wonder why IIHS is stricter than NHTSA.
      "The rest can easily escape these by rebranding or making grand public promises and plans that they abandon as soon as the heat dies down." What's wrong with that? If they rebrand and still do dirty, another boycott.
      "paying protection money is a mutual agreement between the store owner and the mob but only one really benefits" That involves coercion, not a mutual agreement.
      "Ensure peoples survival and I bet many wait staff will no longer be willing to work at restaurants" Then no work.

  • @andremodesto
    @andremodesto 5 лет назад +20

    The human species evolved from living in the wild to organizing complex megalopolis by recognizing and rewarding talent. It was the only thing that encouraged people to do their absolute best. If you stop rewarding merit, and thus talent, all the progress will be lost.

    • @gurumage9555
      @gurumage9555 5 лет назад +2

      As our technology improves AI would become more advanced.
      AI and robots would be able to do more tasks faster , more efficient and far cheaper.
      This would inevitable end up with more displaced human workers and rising unemployment in the long run as more jobs gets outsourced.
      To compensate for this disruption, businesses would pay a tax ("robo - tax") based on the total economic impact their business brings due to the use of robots.
      This tax would be distributed evenly among the unemployed citizens as a form of UBI.
      If we must have a UBI it should be funded (at least in part) by co-corporations that displace human workers to automation. (I'm not against automation or AI, I just feel this is reasonable)

    • @MMGJ10
      @MMGJ10 5 лет назад +2

      It's almost like Progressivism is mostly regressive..

    • @GreenSamurai2
      @GreenSamurai2 5 лет назад +6

      True but a UBI does not "stop rewarding merit, and thus talent". You will still be able to be paid in excess of your $1000 (or whatever) if you choose to use your talents for monetary compensation.

    • @thomas0086
      @thomas0086 5 лет назад +1

      dskmb3 it’s only “stealing”if you are selfish and greedy to begin with. Which is what caused this cluster fuck in the first place.
      Does someone really need a 70 million dollar soccer contract for one year?
      The whole goal should be to improve the human experience for everyone.
      Can’t you already see the gross financial and resource mis management governments are responsible for. The money and resources are already there. Just controlled and manipulated to benefit a few.
      Everything owned, learned will be lost. We are all dying from the moment of birth. To live just for yourself and yours is truly in the grand scheme of things pointless.
      I don’t disagree there are some valid points but most seem to come from just that hate and selfishness.
      There are countless methods that could be instated to mitigate leeching.
      Enough to eat and have a roof is that really so much to ask.
      It’s foolish to look to the past and state the struggle was beneficial, human progress etc. millions and millions of people with potential never even had a chance due to many systemic factors.
      In order for our civilization to progress to the next stage we can’t live like we did.

    • @neo00779
      @neo00779 5 лет назад +2

      dskmb3 wrong. This income would be unconstitutional, meaning if you don’t work you’ll get it and if you work you’ll get it too. So those that work will get more money. So basically nothing will change except the poorest people in society will still have money for housing and food. Is that so horrible?

  • @carecup809
    @carecup809 5 лет назад +17

    I wish school's instead of making you sing the national anthem they would make you shout "There are no free lunches".

    • @fayjaimike
      @fayjaimike 5 лет назад +9

      Mant public schools do offer free lunch for lower income children.. but besides that, here's to hoping your job gets automated away soon. I hope you dont apply for welfare programs and also dont opt into the freedom dividend! Because you dont want a "free lunch".

    • @uskrusader
      @uskrusader 4 года назад +1

      Fayjai Mike somebody is paying for those lunches. UBI will only drive prices higher

    • @yamaha6501982
      @yamaha6501982 3 года назад

      Remember the old Fram oil filter slogan ? You can pay your mechanic now (regular oil/filter change) or later (engine replacement) !

    • @cancelled_user
      @cancelled_user Год назад

      @@uskrusader How it will drive price higher? People who are now working will receive UBI because their jobs will no longer exist. Employers will save tons of money due to automation. Employees are very expensive. Plus, it would probably greatly reduce small crime, since there wouldn't be people with zero income just looking to mug you or scam you.

  • @simeonnedkov894
    @simeonnedkov894 4 года назад +2

    Universal Basic Income will lead to Universal Tragic Outcome :D

  • @DoubleOddJosh
    @DoubleOddJosh 5 лет назад +54

    And then suddenly, for no apparent reason whatsoever, everyone's rent increased by $1000 every month......

    • @DoubleOddJosh
      @DoubleOddJosh 5 лет назад +1

      @@darkshadow955
      Well actually it's hard to consider my channel to be a news source when I haven't uploaded anything in over a year

    • @DoubleOddJosh
      @DoubleOddJosh 5 лет назад +2

      @@darkshadow955
      Don't tell me what to do, here I'm going to like my own comment again just to spite you

    • @acex222
      @acex222 5 лет назад +13

      ...so people moved to landlords charging lower rent, because we live in a market economy which rewards aggressive, profitable businesses

    • @freedomdividendnews5042
      @freedomdividendnews5042 5 лет назад +12

      False. There are six homes for every homeless. Problem is they have no money to give money to home owners and government. Lose lose for everyone

    • @St0ckwell
      @St0ckwell 5 лет назад +6

      @@acex222 Is that why there's so many universities that "compete" by not lowering prices since money is given to them by the government?

  • @ilham1634
    @ilham1634 3 года назад +1

    wealth is not money. wealth is goods and services. u dont have produce more money. u need to produce more goods and services. to do so, u need to distribute the means of production. not by taking from private ownership, but by giving non productive resource to productive people. and by abolish stupid regulation.

  • @godnex211ify
    @godnex211ify 5 лет назад +6

    In Germany over 50% are in favor of it, but nobody is running on it.

    • @mr.anderson1454
      @mr.anderson1454 4 года назад

      Capitalism is an obsolete and unjust system. UBI is a way for capitalist to not only retain their concentrations of wealth and power in the future when capitalism becomes mostly obsolete. But a way to even obtain higher concentrations of wealth and power in the future when human labor is no longer needed. They will control everything. And they will decide what basic allowance we are allowed while they control the wealth and resources. Jeff Bezos and other billionaires and corporations are already starting to push UBI.

    • @spamface5162
      @spamface5162 4 года назад +4

      @@mr.anderson1454 Wrong. Capitalism is the natural way people fulfil their wants and desires. The only reason that we even have billionaires today is due to government regulations allowing corporations to monopolise markets and make loads of money for their shareholders. There are no monopolies in free markets. There are no billionaires in true capitalism.

  • @Phi1eap
    @Phi1eap 4 года назад +1

    I think UBI is great idea that is complitely compatibile with capitalism, but this solution alone is incomplete and therfore might result in udesirable effects.
    What is need to be acknowledge and act upon is how dopamine reward system works. There is no training is basic psychology and motivation mechanisms in schooling system. Part of this lack is why 'life-caoching' and 'self-help' is becoming popular among adults who have somehow failed or underperform in life to their assesment, despite often longer and better education of their peers. Soft skills and character shaping techniques should be tought at school to prevent mismenagment of time and attention.
    Dopamine is powerfull and potentially addictive. Healthy people use real life achivements and proper social interaction for their dopamine reward. People that fall into bad habits and unbenefitial or harmfull dopamine triggers are in danger of psychological problems and failures in life. Modern media are designed to give us instant gratification for almost no effort or by offering artificial achivements (like gaining new items in video games). UBI can alevate socieities to next level, but lack of early training and common awerness of dopamine mismenagment can lead to a socieity of lazy, usless, depressed, fearfull people addicted to distractions offered by media, ideology, perversions, junk food, supplements and drugs. Fear and hardship while effective for some, for others is not good motivator, and brings many side effects, like anxiety, depression, health problems, violence and crime. We need to create environment that is more aware of it's impact on intself, of how our choices, public presence and technologies change our bodies and minds. We should all strive to protect our lifes from short sighted politics of instant gratification. The rising trend now is called 'dopamine detox'.

  • @rickh9852
    @rickh9852 4 года назад +28

    The first time I heard about UBI I had the typical conservative reaction, "commie, socialist slackers yada, yada". But the more I study it I'm thinking it might be a good way to address many horrific social and economic woes that we have today. The world has changed so much that many of the old ways don't work so well anymore. It leaves "free market capitalism" in place which is good. It doesn't involve govt owning industries and all that communist crap. I say we give it a try!

    • @spamface5162
      @spamface5162 4 года назад +4

      Redistribution is still socialism, not "free market capitalism".

    • @wkhristafer
      @wkhristafer 4 года назад +1

      No

    • @Daniela-pr7rz
      @Daniela-pr7rz 4 года назад +1

      if you leave free market alone, the prices for basic goods will rise, just think about the rent, that's all about how much you can or cannot pay, it will go up if all of a sudden everybody has $1000/month more in their pockets. So UBI will barely cover the increase of prices. Sure the price of what well of people buy might drop, for they will have less money due to tax increase to support UBI, so technically , no inflation, just increase in the products poor people buy.

    • @wkhristafer
      @wkhristafer 4 года назад

      @@Daniela-pr7rz what

    • @Daniela-pr7rz
      @Daniela-pr7rz 4 года назад

      @@wkhristafer huh

  • @devinmcmanus
    @devinmcmanus 9 месяцев назад +1

    Some people would say that COVID stimulus was a form of UBI. What would the author have to say in response?

  • @OneTrippyPlanet
    @OneTrippyPlanet 4 года назад +16

    I think we'll get a reduction in crime also if UBI is implemented....

    • @tinman7814
      @tinman7814 3 года назад +1

      ubi is a crime in itself, a communist takeover

    • @OneTrippyPlanet
      @OneTrippyPlanet 3 года назад +1

      @@tinman7814 I think it would depend on the way it's structured.

    • @ronachadwick7908
      @ronachadwick7908 3 года назад +2

      Also a massive reduction in mental health issues, addictions, domestic violence and such.

    • @PacificBird
      @PacificBird 3 года назад

      @@tinman7814 okay McCarthy, go back to the 50s

    • @PacificBird
      @PacificBird 3 года назад +2

      "Poverty is the mother of crime" - Marcus Aurelius, a sentiment also agreed upon by pretty much every social scientist ever, as well as the US Department of Justice

  • @robotron17
    @robotron17 2 года назад +2

    UBI is about control. "Do everything we say, or no UBI." Just imagine what your political enemies might do with that power...

    • @dying_allthetime
      @dying_allthetime Год назад

      How did that work out with social security? If any politician dares to lower or repeal social security that politician is voted out

    • @robotron17
      @robotron17 Год назад

      @@dying_allthetime Are you talking about the thing you pay into with every paycheck? Ha ha. That's not UBI, that's returning your stolen money. And just because people support it, doesn't mean they understand the ramifications. most people are totally clueless about everything.

    • @cancelled_user
      @cancelled_user Год назад

      UBI doesn't prevent you from having a job as well.

  • @Jim-fo2sr
    @Jim-fo2sr 4 года назад +15

    Alaskans have been having UBI for almost 40 years, it's pros definitely outweight cons otherwise they would have gotten rid of it decades ago. Yes automation traditionally creates new jobs but with artificial intelligence it's likely that the speed of innovation is accelerating to a point where labor market is simply unable to cope with the job loss (low skilled especially) fast enough. Above all, the simple fact that UBI eradicates poverty, reduces crime rates and reduces hospital visits in society makes it a very viable policy option.

    • @lubb213
      @lubb213 4 года назад +12

      that can be said about every welfare program the government has ever created. It doesnt matter if the cons outweigh the pros, whatever gives government more power, will not be repealed. Getting people to be dependant on government welfare is not a sustainable.

    • @aiden7487
      @aiden7487 3 года назад

      @@lubb213 Bingo

    • @srs6461
      @srs6461 3 года назад +1

      @@lubb213 That’s a conservative take and a half.

    • @dying_allthetime
      @dying_allthetime Год назад +1

      @@lubb213 and the alternative is many of those people dying horrible deaths.. that's what you're arguing for btw, people dying because of society becoming pure evil

  • @bollweevil8112
    @bollweevil8112 3 года назад +1

    Not sure I’ve heard of a single legitimate, believable CON. Read up

  • @manoo422
    @manoo422 4 года назад +11

    Cons
    1. Cost - Its actually cost neutral as it replaces the existing benefit payment Budget.
    2. Negative impact on Labour market - Actually it has a positive effect as there are no more benefit traps that stop people working i.e people cant take any work they want and it wont effect their benefit
    3. Productivity decrease - Productivity would actually be unchanged or possibly go up as workers would be in a much safer financial position.
    4. Wage pressure - The pressure would be downward as people were more able to work for less due to the UBI income.
    5. Tax progression - UBI would be non taxable and therefore uneffect existing tax system.
    6. No reason to implement UBI - If jobs lost to technology creates new jobs in new areas the UBI allows people time to retrain for those jobs.
    7. Increases Migration - Normal boarder restrictions would solve this but UBI would not be payable to 'Johnny come lately' looking for a free ride.
    8. Another regulation rather than deep reform - You cant get much more of a deep reform than UBI!! there would need to be some reforms for special cases, hardly a major issue.
    9. New taxes or tax increases - No, payments would be a % of gov funds so always remain cost neutral.
    10. Difficult to withdraw from - Why would you want to withdraw from the best benefits system ever invented?!!!

    • @footyball66
      @footyball66 Год назад

      I'd worry they'd be nobody joining the army unless wages were significantly increased. If there are not enough people in the armed forces then countries may have to do mandatory military service, and therefore anyone could be called upon if a war breaks out.

    • @manoo422
      @manoo422 Год назад

      @@footyball66 Sounds like you dont want to fight for your country, which is pretty cowardly.

  • @jv2274
    @jv2274 4 года назад +1

    Trump supporters will call it SOCIALISM ❕ and CHINA ❕😂🤣

  • @neorich59
    @neorich59 4 года назад +14

    Apparently, Spain is set to introduce UBI sometime soon, but not just for the duration of the Covid-19 Pandemic. For someone who's worked as a self employed Piano Teacher/Professional Musician, UBI would be great for me, personally.
    Depending on the amount, it'd cover my rent and utilities and a few other montly bills, as a given, which don't amount to much, but if I wanted "luxuries," to keep a car on the road etc, or holidays, then I'd need to make sure I worked for them, but it would be nice to have a safety net.
    For me, it would not be an excuse to sit around and do nothing.

    • @JimiHL
      @JimiHL 2 года назад +1

      Indeed, it might increase the level of creativity among people.

  • @seanmeantime
    @seanmeantime 3 года назад +1

    There are no cons. Can people live a damn life and not one of slavery and exploitation. This is not a way to run a society

  • @PedroTRamos1
    @PedroTRamos1 4 года назад +4

    This would be a very good thing for the average person, but the sad reality is: Governments and politicians dont give two fucks about the poor/average person.

    • @AnimMouse
      @AnimMouse 3 года назад +1

      Yea, that is why reducing government interference is a good idea, not increasing it.

    • @yamaha6501982
      @yamaha6501982 3 года назад

      They will have to give a fuck someday when other countries who implement it have success lowering their overall expenses on crimes, prison, welfare programs, pollution, etc. and boosting their economy as a result.

  • @dottierplace
    @dottierplace 4 года назад +10

    Actually the reason more companies are becoming more technical is because they know it’ll be cheaper in the long run and displace more jobs than creates that why you only have 1 person manning 8 self checkouts

  • @waynewuest8509
    @waynewuest8509 4 года назад +1

    Too many people would treat such a system not as a safety net, but a hammock. As evidenced by various trials of UBI, people adjusted their lifestyles to the basic income, and remaining at that level. Very few used it to invest in education or innovation. The results are more similar to the Mouse Utopia experiments than Star Trek.
    Instead of a universal welfare check, which tends to de-incentivize productivity, perhaps the UBI could be structured as a credit, reducing a individual’s monthly tax burden. If your monthly tax is less than the UBI, then you would pay no tax and the UBI would provide a check for the difference, resulting in a guaranteed minimum income. If your monthly income tax is greater than the UBI, that amount would be deducted from your taxes. This would increase the purchasing power of the employed while maintaining incentive to remain productive.

  • @walterruano9831
    @walterruano9831 5 лет назад +9

    It’s so easy to make a horrible concept seem great with happy little drawings.

    • @MMGJ10
      @MMGJ10 5 лет назад

      Amen

    • @breakdance4cash228
      @breakdance4cash228 5 лет назад +1

      Here In Alaska we love this UBI concept, it has worked great for the last 30 years 💰👏

    • @MMGJ10
      @MMGJ10 5 лет назад

      @@breakdance4cash228 There's a huge difference between state power and Federal power.. Read the Constitution and the Federalist Papers..
      Also, $1000 -$2000per year vs $1000 per month is a huge difference.
      The money is dependant on oil and gas reserves. If there's more the dividend goes up. Less? It goes down. Dries up?.. well, so would the PFD..
      It was done to help stabilize the state that was struggling to make ends meet and had high taxes because of it.
      The UBI would be the creation of a "guaranteed" living wage of basic income.
      If you give people a huge portion of their income for doing absolutely nothing they will only become dependant on it. It could never be reduced because people would feel they would have a RIGHT to it, when they do not. It would only increase.
      This is completely different than the situation in Alaska, although I'm sure the people have come to count on this money, it's not given to them with the promise that it's a guaranteed income.
      The PFD in Alaska is tied to oil and gas revenue.
      The Federal government doesn't create any wealth..
      The UBI is tied to what? Our already insurmountable debt?
      If you give people an income for free, you make them your slaves.

    • @cancelled_user
      @cancelled_user Год назад

      What's horrible about it?

  • @primeroyal7434
    @primeroyal7434 4 года назад +1

    At the time of pandemic, people are becoming more and more poor. UBI is an unavoidable need of time. Zakat is like the Islamic model of UBI. If a Muslim's net worth(beyond need) over 3 ounces of gold, he must spend 2.5% of his net worth(beyond need) to make poor self-reliant and end poverty. If we tax rich people and non-essential product market 2-5%, we can have enough money for UBI. Not higher because it will scare the rich off.

    • @dallassegno
      @dallassegno 19 дней назад

      The richest pay the highest taxes. What is the matter with you?

  • @StudioUAC
    @StudioUAC 3 года назад +3

    If I was given a UBI, I would use it to hire some artists to help me produce a graphic novel then sell it and make a living like that.

    • @lorefrancis3319
      @lorefrancis3319 3 года назад +2

      Sick!

    • @nathanhedglin931
      @nathanhedglin931 3 года назад

      If I was given it, I’d want my $3,000 in extra taxes I paid to get the $1,000, back.

    • @lorefrancis3319
      @lorefrancis3319 3 года назад +3

      @@nathanhedglin931 Congratulations on being financially stable? Not sure what you want from this? You'd be helping two other people survive, sorry if that's not enough

    • @nathanhedglin931
      @nathanhedglin931 3 года назад

      @@lorefrancis3319 I’m just saying there is a cost. Nothing is free.

    • @nathanhedglin931
      @nathanhedglin931 3 года назад

      @@lorefrancis3319 guess I’m more of a teach a man to fish over give a man a fish guy. We should focus on the former before the later. I’m not against UBI.

  • @jodyssey9921
    @jodyssey9921 2 года назад +1

    My only problem with UBI is how it will be paid for? Yes, I've read all the different ways it can be done but ask yourself this, when has the government ever proposed anything that came in at or under budget? There are always massive cost overruns. I just don't trust the incompetents that go into politics and civil service to do it right.

  • @MoorenaEl
    @MoorenaEl 5 лет назад +3

    $1000 IS VEEERRRRYYY LOW. CALCULATE YOUR TAXES FROM YOUR JOB EVERY MONTH.

    • @lexluther3066
      @lexluther3066 5 лет назад +2

      Moor-ena El No. Let's make it a billion dollars and watch home prices and food skyrocket.

    • @ShidaiTaino
      @ShidaiTaino 5 лет назад

      Moor-ena El MUH TAXES MUH TAXES

  • @MyWasteOfTime
    @MyWasteOfTime Год назад +1

    Would this do away with Social Security?

  • @ljpeng3473
    @ljpeng3473 4 года назад +4

    "no reason to implement UBI" lol

    • @yamaha6501982
      @yamaha6501982 3 года назад

      People with no disposable income don't buy fancy things, so less income and possibilities for the riches like you !

  • @kaputfretudy
    @kaputfretudy 3 года назад +1

    Who says the labour markets are over-regulated? Also, government intervention in the market is an abosulte necessity, not a burden, though it does need to be done right. People forget that government regulation (enforcement of contracts etc.) is what creates the market in the first place. There is no disconnected phenomenon called 'the market' without government, without regulation.

  • @BakedBeanieSigel
    @BakedBeanieSigel 5 лет назад +20

    I actually would argue that UBI would infact increase worker productivity as employees would be less stressed about money, thus happier and more productive at work (and less likely to do things like steal from the company). People would still work because it is human nature to for people to want more in life, especially if everyone around you has more. $1,000 is not enough money to be lazy and live a life of leisure.

    • @MMGJ10
      @MMGJ10 5 лет назад +2

      Hahahahahaha! The CANCER of socialism... Unreal

    • @MrNate-jd1nc
      @MrNate-jd1nc 5 лет назад +5

      People do not want to work! I run a business and that is the hardest part is finding people who want to work.

    • @MMGJ10
      @MMGJ10 5 лет назад +4

      @@MrNate-jd1ncI hear that from everyone. I run a masonry business. Almost impossible to find anyone that wants to do hard work anymore. More handouts is only going to make that worse.. Entitlement..

    • @MrNate-jd1nc
      @MrNate-jd1nc 5 лет назад +1

      @@MMGJ10 and think when robots and AI do all manual labor we will be forced into ubi in a sort of technological socialism.

    • @princeofcats6883
      @princeofcats6883 5 лет назад

      Wrong.
      Fuck you making the same as me when i work harder or easier. Where i come from that gets your ass whooped.

  • @nzmak3220
    @nzmak3220 4 года назад +2

    then hyperinflation kicks in..
    good luck with that.

    • @soarhighyandow9109
      @soarhighyandow9109 4 года назад

      That is correct. Is it possible to some how regulate it?

    • @nzmak3220
      @nzmak3220 4 года назад

      @@soarhighyandow9109 next year they will have twin summit world economic forum titled The Great Reset.
      for me, the hyperinflation globally is planned to make way for UBI and digital currency.

    • @Daniela-pr7rz
      @Daniela-pr7rz 4 года назад

      @@nzmak3220 so hyperinflation will make the little money we already have , worthless. The great reset is confiscating our money in the form of devaluation.

    • @nzmak3220
      @nzmak3220 4 года назад +1

      @@Daniela-pr7rz they need to offer something that the majority needs to bring out their agenda in the name of 'helping' us.
      hyperinflation (that they create) will make us beg for 'help' on monetary system.
      the 'help' that they will provide is through monetary reset and new one digital currency.
      to understand their methods, we just need to know what is their endgame.
      it is #totalcontrol over us.

    • @Daniela-pr7rz
      @Daniela-pr7rz 4 года назад

      @@nzmak3220 so what can be done? how to protect ourselves from them?

  • @craigdaubbeats-rapinstrume9185
    @craigdaubbeats-rapinstrume9185 4 года назад +6

    There really is no cons in the idea of universal basic income itself. It's how it's implemented that could add pros and cons.
    For instance it can be implemented without creating debt. You would need to end all other cash assistance programs and end income tax. Then implement a federal sales tax on non essential items and a premium tax on premium luxury items. Then you base the ubi on a percentage of the total tax revenue every quarter divided evenly for every qualifying adult citizen.
    I lean right on economics but I would support UBI if implemented this way. It would help the people and help capitalism thrive. It would also drastically reduce the size of the government so they can focus on more important things.
    I think we would see a huge advance in technology and new ideas as well which is always a plus!👍

    • @Daniela-pr7rz
      @Daniela-pr7rz 4 года назад

      So the prices of basic goods will rise, for there's more money there and the prices of non essential goods will drop. No inflation over all, but the poor will spend UBI on increased prices of the essentials..

    • @cheri19791
      @cheri19791 4 года назад

      It will help the ones on retirement barely making 1000 or less and disability. I would still work and use that for my 60,000 student loans and save for retirement. It can do alot for others

  • @cold-warfool7512
    @cold-warfool7512 3 года назад +1

    With that money I could invent a better hammer and sell it to the Pentagon for $60.😉

    • @sta.c
      @sta.c 3 года назад

      Funny 😁

  • @paulstandaert2042
    @paulstandaert2042 5 лет назад +2

    If you own a business, would you expect your and everyone else's business to see an increase in demand for your goods & services? If so, as a business owner, you have two options -- expand your business, or raise your prices. Expanding your business makes you work harder for what turns out to be not a lot of extra $$$$. If you raise your prices to continue to achieve that equilibrium point in the supply and demand curves, you would make more $$$$ and not have to work harder. There's a fine line to draw there. With all the business regulations that the democrats like to push, why not just raise your prices?

  • @soraiya2065
    @soraiya2065 5 лет назад +18

    Interesting video about Universal Basic Income and very well explained. Thank you!
    I notice that this video has got a lot of thumbs down...I think it's more to do with people being against the idea of the UBI rather than it being a badly made video. I don't know where I stand on the topic, but have given it a thumbs up for being informative and well put together .

  • @xXIronSwanXx
    @xXIronSwanXx 2 года назад +2

    I supported the idea until I realized that the more income a consumer receives on average, the more the privatized sector will raise their prices to leech off the excess cash.
    I also believe that those who are already wealthy will likely use the excess cash on investments allowing them to widen the wealth gap even further. When they invest heavily on property, it will lead to an increase in rent pricing making this entire idea pointless.
    The only way I can see this work is if the money given can only be used on certain basic needs or if property were owned by the government and not private owners.

    • @wayneshamba6961
      @wayneshamba6961 11 месяцев назад

      Well what you said about property prices increasing in value and wealthy people buying them up is already happening and it won't stop until laws are put in place to protect people's property.
      The only way I see UBI being implemented is with digital currency but that will create problems of privacy.

  • @calsavestheworld
    @calsavestheworld 4 года назад +18

    As a Canadian, I'm concerned that if we consolidate existing social assistance into a UBI program, it would then become logistically easy for a future conservative government to reduce or repeal that assistance, resulting in less social assistance than ever. That is a concern I haven't heard addressed in public discourse.

    • @yamaha6501982
      @yamaha6501982 3 года назад +3

      It should made be like social security that is very hard to repel by conservative government....

    • @jodyssey9921
      @jodyssey9921 2 года назад +2

      Doesn't seem any more likely than them reducing existing social assistance to me.

    • @blubberman911
      @blubberman911 2 года назад

      I don't think they would dare if it worked.. like they don't touch the single payer system.. it's political suicide for them

    • @blakenewton2781
      @blakenewton2781 2 года назад +2

      Instead we will keep an inefficient ineffective patchwork of programs.

    • @JimiHL
      @JimiHL 2 года назад

      Certainly a concern, but it would be very difficult to take it away once people felt the benefits. Citizens would become accustomed to it and rely on it. It would be nearly impossible to dismantle.

  • @Sugho2023
    @Sugho2023 5 лет назад +2

    So many dislikes. Probably most of them are from people who have no idea their job will disappear in the next years.

    • @antiquarian1773
      @antiquarian1773 4 года назад

      jobs disappear all the time, what are you talking about?

    • @Sugho2023
      @Sugho2023 4 года назад

      @@antiquarian1773 Not like they gonna in the next 20 years.

    • @antiquarian1773
      @antiquarian1773 4 года назад

      @@Sugho2023 Ok

    • @AnimMouse
      @AnimMouse 3 года назад

      Their jobs will be replaced, not destroyed.

  • @chairde
    @chairde 4 года назад +2

    Basically creative people will be creative and the lazy stay lazy. However poverty goes away.

    • @lorefrancis3319
      @lorefrancis3319 3 года назад

      Sounds good to me

    • @AnimMouse
      @AnimMouse 3 года назад

      @@lorefrancis3319 Then productive people will see lazy people as "wow, you are out of poverty by being lazy, it seems like being productive is a waste of time" so productive people will also become lazy as they now being lazy is the same as being productive.

    • @lorefrancis3319
      @lorefrancis3319 3 года назад

      @@AnimMouse The survival of one person does not negate the work of another. The basics of survival should be ensured but that doesn't mean someone is living a good life. People still have to work for things that they want

    • @AnimMouse
      @AnimMouse 3 года назад

      @@lorefrancis3319 "The survival of one person does not negate the work of another" True, but ensuring the basics of survival, first, who is going to pay for it? Charity is ok, because that is voluntary, but what about welfare? That's not voluntary. Letting the taxpayers ensure the basics of survival is a bad idea because that is not voluntary.

    • @lorefrancis3319
      @lorefrancis3319 3 года назад

      @@AnimMouse If someone believes people deserve to die because they're poor then I don't believe they deserve to interact with a civilized society.

  • @Slasher95
    @Slasher95 5 лет назад +7

    This sounds similar to communism hmmmmm your Kim jong un

    • @KyleHUNK
      @KyleHUNK 5 лет назад +2

      Direct 995 yt it actually replaces government welfare agencies and has those people buy those services on the private sector from a private business.

    • @TylerDurden-jt4vt
      @TylerDurden-jt4vt 5 лет назад +2

      Direct 995 yt
      Not the same considering America has already done it...

    • @Slasher95
      @Slasher95 5 лет назад

      Tyler Durden its a joke

    • @MMGJ10
      @MMGJ10 5 лет назад

      If it actually replaces welfare I'll shit my pants.

    • @jobokidd
      @jobokidd 5 лет назад +1

      Communism definition - "Communist society, which is a socioeconomic order structured upon the common ownership of the means of production and the absence of social classes, money, and the state".
      UBI is not communism. It is Capitalism with a floor of $12k instead of zero. it won't mean that the state owns all the businesses.
      #Yang2020

  • @user-uv9fp3jy5x
    @user-uv9fp3jy5x 4 года назад +2

    What’s up

  • @michaelanderson9792
    @michaelanderson9792 4 года назад +5

    With UBI you could live where you want to small towns are hurting too many people are leaving for jobs in the city

    • @cancelled_user
      @cancelled_user Год назад

      Cities are shitholes. I moved from a city to a tiny village 3 years ago and I would never go back to any city.

  • @bonniegaither3994
    @bonniegaither3994 3 года назад +1

    The cons: because I’m sure someone who makes a dollar an hour is much more productive than the person who makes $30/hr. 🙄

  • @zumretakaplanovich2088
    @zumretakaplanovich2088 5 лет назад +9

    That's how migrants live in westetn europe

  • @RowbotMaster
    @RowbotMaster 3 года назад +1

    Assuming that it would negatively impact the labout market and worker productivity only makes sense if you also assume people don't want to work harder for more money.
    And sure taxes might go up for employers but they would probably also make a lot more money if slavery were legal.

  • @michaelanderson9792
    @michaelanderson9792 4 года назад +6

    People could wait for the right job and walk away from places that miss treat their workers

    • @Jono1982
      @Jono1982 4 года назад +1

      do you mean like people collapsing at Amazon and ambulances being called? No more suicide nets?

    • @ElanaVital83
      @ElanaVital83 4 года назад

      The suicide nets were in China though?

    • @yamaha6501982
      @yamaha6501982 3 года назад +1

      Master/slave attitude inside corporations will disappear. This is just one of the many benefits....

  • @topcomment3816
    @topcomment3816 5 лет назад +1

    *Here’s what happens:* The banks will then approve everyone for a “lifestyle” loan that is guaranteed by their $1,000/month income. The financially incompetent will take out the loan, blow it on dumb purchases, and within 2 years, the money will have gone back to the rich.

    • @jobokidd
      @jobokidd 5 лет назад

      Fair call, the banks love giving loans no one can afford lol
      But at $12k it's not much.

    • @topcomment3816
      @topcomment3816 5 лет назад

      jobokidd
      12k a year would easily qualify people for a $100k loan. Especially if the bank had the power to garnish that monthly check

  • @azireandrai7240
    @azireandrai7240 5 лет назад +3

    Second thing cost of living will go up because businesses will know people have guaranteed income coming in so why not raise the costs of things we nedd

    • @j-nifty6664
      @j-nifty6664 5 лет назад +5

      Azire Andrai then one business will come along and charge cheeper prices. Then all the consumers will flood to that store. This will then force all the other stores to start making their prices cheaper in order to be more competitive with the stores they are loosing consumers too. The businesses will compete the same as they do now. Just because people have more money doesn’t mean the principles of a free market change. In no way will this lead to them raising the prices of their goods.

    • @breakdance4cash228
      @breakdance4cash228 5 лет назад +1

      Inflation on housing will go up regardless of UBI, what's your point?

    • @mr.motivation3797
      @mr.motivation3797 5 лет назад +2

      @@j-nifty6664 youre so full of shit. Thats why prices go up when the minimum wage is raised. Or is my wallet confused? Stfu shill.

    • @mr.motivation3797
      @mr.motivation3797 5 лет назад

      @@breakdance4cash228 he made his point dumb bitch. You and people like you are fucking worthless.

    • @jobokidd
      @jobokidd 5 лет назад +1

      Competition/Capitalism will keep it in check.

  • @ThankYouESM
    @ThankYouESM 4 года назад +1

    tax the automations

  • @Danimally
    @Danimally 4 года назад +4

    Most of the ideas of the "cons" have a solution.

    • @ryanodagawa
      @ryanodagawa 4 года назад

      They have to have a con list so it looks balanced, but in reality solutions can probably fix them.

    • @uskrusader
      @uskrusader 4 года назад +1

      There’s no such thing as a free lunch. UBI is an attempt to to get a free lunches for everyone.
      Somebody always pays with their time and energy spent. Free things always become worthless or unavailable if they were not worked for.
      Prices will inflate beyond what UBI was meant to pay for. UBI will adjust until it is cancelled or hyperinflation.

  • @ryanlisterman1864
    @ryanlisterman1864 5 лет назад

    Guys,
    All socialism has failed, this will be different because we figured out the problems
    🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️🤦🏼‍♂️

  • @acex222
    @acex222 5 лет назад +12

    I have to make another comment here because people seem to think UBI is meant to replace having a job. UBI is an unconditional cash payment. You can keep working or not bother, you will always be guaranteed your UBI. It isn't communism.

    • @MMGJ10
      @MMGJ10 5 лет назад

      You seem to make arguments in both sides of things. Strange.

    • @acex222
      @acex222 5 лет назад +4

      @@MMGJ10 yes, because real life is more nuanced than "this is fascism/communism"

    • @MMGJ10
      @MMGJ10 5 лет назад +2

      "You will alwaysbe guaranteed your UBI." How? How do you guarantee something to be given from an entity that has to steal it from others? You can't, but you certainly create a dependency.. This is how nation's collapse. A child could see through it

    • @acex222
      @acex222 5 лет назад +1

      @@MMGJ10 well, the main source of income in Yang's analysis will be a VAT and a carbox tax, two taxes designed to hit large businesses like Amazon and Alphabet, who dodge historical taxes with finesse, to recoup retail spending in a way that consumers will not take the flak. Military and foreign aid cuts are also high on the revenue list.
      People are already "guaranteed" welfare, it's the same shit only far fairer, and with more positive outcomes than SNAP and shit. We already live in a society where the authoritarians have convinced the majority that theft is forgiveable or even justifiable. If that theft can at least be turned into relative economic improvement, then I fully support that, and that's what UBI will do.

    • @Koushi82
      @Koushi82 5 лет назад

      @@acex222 this is likely why even some white supremacists 4chan racists, libertarians, Democrats, independents and Republicans etc support this.
      I am swayed by it too because I criticize the welfare queens because other citizens do not get that free lunch. But if everyone does then I wont complain.
      Its a fairness thing.
      As I need to be a bumb just to get welfare. I have more dignity than that and as a result I scoff at ebt and such welfare programs. I hate leeches.
      But if everyone gets ubi including the rich. It takes that stigma away and I can accept it.

  • @CJohnson19121
    @CJohnson19121 4 года назад +1

    This sounds expensive.

    • @eg14000
      @eg14000 4 года назад +2

      poverty is expensive.

  • @HeyCharlieBrown
    @HeyCharlieBrown 5 лет назад +5

    #yangGang

  • @Fromard
    @Fromard 4 года назад

    The question of how to pay for it is always avoided. I don't think people realized just how expensive it is. It would be roughly 2.9 trillion every year. Cutting other programs and having a VAT tax wouldn't come anywhere close to making up the cost. To give you an idea of the amount of money we are talking about, lets look at the wealthiest Americans and assume as an experiment that they would pay for it.
    There are approximately 621billionaires in the US with a combined net worth of 2.9 trillion dollars. There 18.6 million, millionaires with a combined net worth of 93 million. Added together that is roughly 2 trillion 900 billion dollars. There are 243 working age adults in the US. If each received $1000 a month in UBI that would be 2 trillion 900 and sixteen billion dollars for one year. So, if you stole all the wealth from all the billionaires and millionaires it would only fund UBI for about one year. Then where would you get the money? Well, you wouldn't.
    I'm using this example to show just how much it would cost. It simply isn't sustainable.

  • @jonathanpicket124
    @jonathanpicket124 5 лет назад +5

    Studies show that any impact on the workforce is minimal. The people who primarily work less when given a UBI tend to be new parents and students. Considering the influx of workers who currently are on disability or welfare, it would seem just as likely that workforce participation would actually increase.

  • @TheGrateful108
    @TheGrateful108 4 года назад

    Why reinvent? Improve existing Social Services and education.1. Make an Unemployment insurance Fund and make IT companies and hyper rich to donate, increase Unemployment rates.2. Create free self Education programs and free DYI Entrepreneurship programs (like those on RUclips) and in India free computer self education programs in all academic fields. Make them accessible free Online. So people can reeducate themselves quicker by watching videos created by top experts.

  • @stevencanzonetta1971
    @stevencanzonetta1971 5 лет назад +3

    How does it work in Alaska?

    • @FletcherFinance
      @FletcherFinance 5 лет назад +3

      Extracted hydrocarbons.

    • @stevencanzonetta1971
      @stevencanzonetta1971 5 лет назад +2

      @@FletcherFinance , so they take a percentage of the state's gross domestic product, and give it to the residents. If only the American GDP was trillions of dollars annually, it might be possible. I know it's just crazy talk, right?!

    • @FletcherFinance
      @FletcherFinance 5 лет назад

      @@stevencanzonetta1971 It is crazy talk, unless we start neutralizing certain populations so that the ratio equates to a sizable income every year. Let The Purge begin! ;)

    • @FletcherFinance
      @FletcherFinance 5 лет назад +1

      @@stevencanzonetta1971 Remember, Alaska relies on a hard mineral for its negative tax revenue. Extracted hydrocarbons. Not all states and certainly the Federal government does not rely on hard assets. Some states and the Federal government rely on paper profits and taxes those paper profits. Those can vanish in a split second.

    • @ebonyblack4563
      @ebonyblack4563 5 лет назад +1

      Alaska's dividend is often described as 'oil' money because it comes from the state's natural resource collection. Note: Their implementation has some yearly variability because it's tied to the resource that it is.
      Most proposals for UBI in broader terms target things like creation or adjustment to a Value Added Tax (VAT) or other program that would target 'electronic' resources, things like data collection rather than raw materials. Some ideas include using UBI funding to push green moves for companies by adjusting things like the carbon tax.
      The biggest hurdle to UBI is funding and efficacy. There are several models that have been proposed over many years.
      One plan gaining spotlight for the US right now is Andrew Yang's 'Freedom Dividend'. I'd suggest looking into it or checking out a UBI social community to explore various options.

  • @immanuelt613
    @immanuelt613 4 года назад +1

    UBI would never reduce productivity to work. Because it is only enough to cover for the most basic things. People would work for things they WANT not for the things they desperately need.

    • @AnimMouse
      @AnimMouse 3 года назад

      What about those people that does not have wants?

  • @ZooomaCW
    @ZooomaCW 5 лет назад +10

    This would be AWESOME!!! I'll just sit on my couch all day, every day, drink Coca Cola, eat Doritos and play video games. I mean if I don't have to work and Ocasio-Cortez and Yang just want to send me a check every month, that's cool with me. Is that okay with everyone if I do that? Sweet! You work, I won't which means I will not pay any income tax but you will and you will fund my life through YOUR income tax. THANK YOU!!!

    • @ruizft
      @ruizft 5 лет назад +5

      Chris W. If you’re that big of a loser, it’s your choice. AOC and Yang are two different people with different ideas. You should listen to yang first.

    • @Estephan2013
      @Estephan2013 5 лет назад +5

      That's right. If your that much of a unproductive loser then sit your ass at home. I'll be out making money on TOP of my UBI, living in better standards then you, and unbothered by the fact that it really is your fault that your unproductive and poorer and not the "system" holding you down. Grow up.

    • @mr.motivation3797
      @mr.motivation3797 5 лет назад

      Im coming for your Xbox Chris. No more Forza. And im taking the new wheel you got. 😃

    • @jobokidd
      @jobokidd 5 лет назад +3

      Probably can only afford your moms basement still. I think if you want a nice life there is still a lot of incentive if you're only getting $12k per year. But it would be awesome to never worry about being homeless or hungry! Woot!
      #Yang2020

    • @matefranek3088
      @matefranek3088 5 лет назад +2

      Will be hard to live off from just 1k a month tho bro, and Yangs UBI is VAT based not income tax based, if you don't work you are fucked the same it just takes longer to hit the ground. Unless you live in a commune in the middle of nowhere, and all you really do is eat your 3 meals and sleep.

  • @mpaso6634
    @mpaso6634 5 лет назад

    Sorry but Congress wouldnt pass this idea unless there was a super majority of what people would consider extremely liberal Democrats in the house and Senate. UBI simply goes against the traditional Republican party value of, working for what you get. And many many Democrats think this is a terrible idea fundamentally and would never fight or vote for it. Basically, even if Yang or Bernie were to make it into the White House, more than likely (simply due to the American electorate) none of these sweeping changes would ever happen. Congress would simply never allow it. This is not all because the politicains are evil Bernie and Yang haters..it's just the system they've been put in. Polarization people, it's a bitch.

  • @DaveSimkus
    @DaveSimkus 5 лет назад +3

    As an introverted person barely getting by on minimum wage, UBI would be life-changing and certainly give me some freedom and security to pursue other things with less anxiety and more confidence.

    • @MMGJ10
      @MMGJ10 5 лет назад

      I wonder if comments like these are from real people sometimes..

  • @fernandomarturet2486
    @fernandomarturet2486 4 года назад

    The changes will be gradual. We're not going to jump from having 3.5 million truckers one day to 0 the next. Think about the logistical challenges currently facing self driving cars. Are they going to be overcome some day? Probably, but it certainly won't be overnight. Just like cellphones took 40 years to get to the point they are today, self driving vehicles and other technologies that may replace humans down the line will do so gradually. This is will also make the costs of all consumer goods and services substantially lower. It will also increase demand for workers in other fields. Also, it is worth considering how government mandates, like the minimum wage, may cause employers to choose robots over humans, precipitating the transition. If I am making $4/hr, but I can afford to live on $200 a month, due to the lower costs, I would be in a good situation.
    The problem with all of these people predicting mass unemployment is that they are doing just that, predicting. People have been warning about the dangers of automation since the industrial revolution, yet every time they are proven wrong as standards of living rise for all.

  • @MoorenaEl
    @MoorenaEl 5 лет назад +4

    ALL THIS IS...IS GIVING THE POOR THEIR MONEY BACK AND STILL SHARING THE POOR'S MONEY BACK WITH THE RICH.

    • @coopsnz1
      @coopsnz1 5 лет назад

      Goods and cars will cost more , small business owners aren't wealthy with huge debt

  • @amandasanchez9177
    @amandasanchez9177 4 года назад

    I think we should try it. I know it won’t fix everything. We will still have people who are homeless and who are incarcerated. However, it can reduce ssdi, it can get rid of tanf, more people will not qualify for snap or some may not qualify for Medicaid. People don’t want to rely on the government. Then don’t rely on 1000 dollars. Go work or go to school. If people only want to live off 1000 month and are capable to work they should not get assistance for housing if capable of working. When people want to retire they can get social security if they pay into it.