Is a guaranteed income program really going to solve society's problems?
Will a guaranteed income program really solve our society's problems?The US has devoted trillions of dollars to poverty programs since the days of Jack Kennedy and Lyndon Johnson. Did any of that spending really bear fruit?
It is not accurate to say that spending was useless, but it is clear that no amount of spending on those programs would ever accomplish the lofty goals implicit in those programs.
It is not its intent.It is intended to replace the bloated, inefficient welfare system with something simpler.
It's intended to encourage thousands of government employees to find honest work in the private sector, instead of being a drain on productive persons through taxes
It is not intended to solve our society's problems.It could reduce some of the disincentives to climb out of poverty.It's unclear if it's suitable for that.
It can’t hurt. None of that money will evaporate into thin air. ALL of it will get spent and re-spent. As long as you don’t run into too much money and not enough goods you won’t have inflation to worry about. At this point the world is awash in products to sell. Of course starting last week this virus thing has slowed down the world economy and should it continue for X amount of time manufacturing, shipping and shopping will slow down…. we could be looking at a real depression. Any economists out there that can explain how such a scenario will work out?
It might go a long way towards that goal.Eliminating unneeded paperwork, red tape, and bureaucratic checking for compliance leads to the savings.The system is the same as capitalism in that it is the invisible hand of each person making their own decisions as to how they will spend the money.We can finally agree with our libertarian brothers that there is no excuse for poverty if good decisions are made by individuals.
