Can universal basic income fix a crisis that's already begun? | Big Think

Can universal basic income fix a crisis that's already begun?
Watch the newest video from Big Think: bigth.ink/NewVideo
Learn skills from the world's top minds at Big Think Edge: bigth.ink/Edge
----------------------------------------------------------------------------------
The COVID-19 pandemic has thrown millions of Americans into unemployment, highlighting the impracticality of living paycheck to paycheck, which a shocking number of Americans must do. Yet pandemic unemployment is just a glimpse of the fallout the US can expect in a future where more and more jobs are automated.
Is universal basic income the answer? In this video, a range of experts from economists to entrepreneurs and historians explore different facets of basic income, like why we need it, how it's different to welfare, and how we'll pay for it.
Yanis Varoufakis, Greece's former Minister of Finance, explains why he's not in favor of a UBI tax, but rather the creation of a public equity fund: "[T]hese days capital is socially produced ... Take for instance ... the capital stock of Google. To a large extent it is produced by all of us. Every time we search something on the Google search engine, we are adding to the capital stock of Google. This is not just a consumer transaction. So, if capital is socially produced why are the returns to capital privatized? On what basis?"
What's your favorite argument for (or against) UBI? Let us know in the comments!
----------------------------------------------------------------------------------
ANDREW YANG:
Andrew Yang is an entrepreneur and author who is running for President as a Democrat in 2020. In his book The War on Normal People, he explains the mounting crisis of the automation of labor and makes the case for the Freedom Dividend, a Universal Basic Income of $1,000 a month for every American as well as other policies to progress to the next stage of capitalism.
----------------------------------------------------------------------------------
TRANSCRIPT:
ANDREW YANG: Universal basic income is an idea that's older than America, where Thomas Paine was for it at the founding of the country, [he] called it the citizen's dividend. Decades later, Martin Luther King, Jr., was for it and he championed it before he was assassinated in 1968. And Milton Friedman and a thousand economists signed the studies in the late '60s saying this would be tremendous for both the economy and society. It received so much support that it passed the House of Representatives twice under Richard Nixon in 1971 and the only reason it didn't become law was that Democrats in the Senate wanted an even higher income threshold. So, universal basic income has been with this country for a long time and it actually became law in one state in 1982, where now every person in Alaska gets between $1000 and $2000 a year-no questions asked-from a petroleum dividend. It's wildly popular, has created thousands of jobs, has improved children's health, has decreased income inequality, and it was passed by a Republican governor who made this argument to the Alaskan people: Who would you rather get the oil money-the government who is just going to mess it up or you? And the Alaskan people said ""us"" and now it's so popular that a majority of Alaskans, which is a deeply conservative state generally, the majority of Alaskans said they would accept higher taxes to pay for this dividend moving forward.
My plan, the Freedom Dividend, would pay every American adult starting at age 18 $1000 a month or $12,000 a year. This would push every American adult to just below the poverty line, which is $12,770 a year right now. But this money would get spent in main street businesses, on car repairs, food and tutoring for your kids, the occasional night out, a hardware store. It would go right back into our economy and would create two million new jobs, would grow the consumer economy by eight to ten percent, would make our families and communities stronger, would improve children's health and nutrition, would improve everyone's mental health and productivity, it would decrease domestic violence and hospital visits. So, universal basic income is a powerful policy that helps improve human welfare and that's why I'm proposing it.
NEWS ANCHOR: The Labor Department is out with the jaw-dropping new numbers.
NEWS ANCHOR: Unemployment claims skyrocketing with 6.6 million people filing in the last week alone.
NEWS ANCHOR: It's still 1.5 million. It's still an enormous number.
NEWS ANCHOR: One of the clearly worst parts of what's happened over the last couple of months is it has taken a much worse toll on the African-American community.
WOMAN 1: I feel sad...
Read the full transcript at bigthink.com/videos/universal...

[@bigthink]

What topics should we tackle next? Subscribe for DAILY videos: bigth.ink/GetSmarter

[@judithreyes4664]

This topic is very interesting how about doing a part 2? I think there’s a lot more I’d like to know about what life might be like with a basic income. I’d also would like to know what employment might look like in the future and whether or not a college degree will be useful. I’d like to hear from neurologists what they think about Elon Musks Neuro Link

[@judithreyes4664]

@@change1996 Sounds like a great read! I would love to read it! Thank you for sharing your book and insights what a wonderful accomplishment.

[@smallstudiodesign]

Climate change denialism as crimes against future humanity ... the rights of our children/ grandchildren/ great grandchildren ... the holocaust of future generations by our contemporary irresponsibility.

[@mav99700]

something provable?

[@lindajoyrainbowneal5609]

... wow ... l just discovered your channel & was inspired to communicate my ideas about solutions to Americans' problems, which l wrote in your comments section ... hope they're helpful !!! ... thank u & may God bless u for your efforts to A-Z educate ... (-_'|

[@markrichley4075]

I support UBI, but it needs to come with controls to make sure that your boss doesn’t decrease your pay by $500/month and that your landlord doesn’t increase the rent by $500/month.

[@alexshane5713]

If people get enough money that they don't absolutely need to work to survive then it could actually force employers to offer better payments and working conditions. Most people take crappy jobs because they don't have many options and need to cover their basic needs

[@johnzoppa7981]

Your boss wouldn't be decreasing your pay, them government would through taxes. Who would pay this UBI? tax payers.

[@hunterhoyt9571]

thats a really great point i have never thought of. It needs to come backed with predator insurance lol

[@mageyeah7763]

@@alexshane5713 shit jobs would need to pay more. Jobs that people want to do could pay less.

[@californiaplant-basedeater2761]

Ostensibly, real estate hogs would get UBI, too, and eventually cease to exist. And every other type of hog, and all people would then go outside each day and just do the things that need to get done. No more 40 hours a week at a detestable workplace just to get full time benefits, but maybe 2-3 hours there, then 2-3 someplace else...

[@theroamingsavage8813]

I used to think that UBI couldn't work, but everytime I see "corporate basic income" like for example tax exemptions, tax free bonuses, trillions in bailout money, behind the scenes contracts, nepotism and favoritism, etc... I have a hard time believing we don't have the "budget" to give some of our own money back to ourselves instead of the 1% who ABSOLUTELY don't need it at all

[@keith_emerson]

Sos Argentino?

[@mikelarrivee5115]

It wont work and neither will these retarted trillion dollar fake money bailouts

[@timwoodger7896]

Nial, head, hammer! 👍👍✊

[@rqb6731]

@gespilk just curious what's the difference between the real and fake ubi

[@rqb6731]

@gespilk ay whatsup my 3 am brother

[@cemsengul16]

Coronavirus made the concept of UBI more popular than ever before.

[@acraze2287]

@gespilk uh explain better pls

[@acraze2287]

@gespilk 2nd

[@acraze2287]

@gespilk im fine with ANY version of UBI that get's money to the people with no problems or strings attached

[@cedrickulacz8468]

Absolute Longplay, it has been slowly gaining steam for a while. The pandemic skyrocketed its popularity. In fact there were experiments done in Europe before, but Yang in particular was looking at one of the weirder benefits found which was increased entrepreneurship.

[@cemsengul16]

@@cedrickulacz8468 I think it could have great results for entrepreneurs because they could take risks and try out other things in life.

[@Bucks7542]

Oh and by the way, UBI shouldn’t be taxed.

[@nyx211]

@She’s so Lucky Taxing UBI would be pointless. The government would be giving you money just to take it back.

[@scotiaguy]

If UBI is an anti-poverty approach, the it’s tax-ability depends only upon the rate structure, which should be indexed to inflation, like minimum wage should be.

[@jish55]

yep, and what's funny is that laws can legit be put in place right now where let's say the government provides $3k a month to each individual not in prison over the age of 18, and to avoid inflation, the treasury can have by laws put in place that has it to where inflation would outright ignore the UBI (since the entire existence behind inflation is that people decide how much or how little things should cost based on how much money someone has and how much there is of a product as well as how much someone wants it. If a UBI is not counted when determining the cost of things, prices won't increase from a UBI). Hell, they won't even have to tax people for a UBI as the government can just create it and then have specific laws put in place that would allow people to receive this without having to worry about extra taxes.

[@noticias6111]

'lest we forget', excellent point Corbitt :I d

[@manifestmyreality2025]

more like a technology tax credit refund for every citizen in the world, with no strings attached. Something they should have implemented a long time ago and we wouldn't be experiencing the huge wealth gap we see today between the rich and poor. They act like they are doing a favor. pitiful.

[@sebastianelytron8450]

In what world is Biden a better candidate than Yang?

[@THEMithrandir09]

Or Sanders

[@well-8814]

They're all Democrats, so they're all the same scum

[@gsilcoful]

@@well-8814 FT

[@THEMithrandir09]

@@well-8814 Are republicans any better? These two at least claimed to care about the people. Now we'll never see what they'd have done in the next term.

[@well-8814]

@@THEMithrandir09 I didn't say the Republicans are any better. But you're right, they're not. Trump is a )eu|$h Trojan Horse, won't the Trumptards be upset when they find out he's betraying them to please his |$raeli overlords hahaha

[@jamessizemore1446]

Yes I’m for universal healthcare and a universal wage. For profit healthcare does not work just as unregulated capitalism fails repeatedly and is bailed out by the taxpayers...

[@kimobrien.]

His idea is to cancel social security for welfare. We need to rebuild the unions and fight back not new welfare schemes.

[@nenmaster5218]

UBI and versions of it like the Baby-Fund, were covered by 'Some More News', like in his video 'Obvious Solutions to Obvious Problems'.

[@renragged]

How the hell is the poverty line $12,770/year??? That's barely over $1k a month. That's scary...

[@nextworld9176]

$12770 for a single person. $26k for family of four.

[@LisaCulton]

Supposedly, there are lots of frugal people are living on 1k a month. I used to live on on 1K a month but not because I wanted to, but because that's all I had.

[@michaeld4861]

Tha'ts what I was wondering. That's insane. I don't know anyone that doesn't live with their parents that can afford to live on 12k a year. I mean you can technically do it, but nobody would ever choose that lifestyle. Hell, the cheapest studio apt is at least $500/month and most are more (I mean in my area, in michigan surrounded by ghettos and farmland). How could someone support 4 people on 26k?

[@savagesalvage9449]

@@michaeld4861 We run on homelessness and cheap coffee.

[@Myrddnn]

@@LisaCulton Retired and living on SS. It isn't a lot more than 1k/mo. Makes me get creative with my little bit and accept a lesser standard of living than I used to enjoy.

[@Ardjano234]

My mind is blown that it actually exists already: in Alaska!

[@charleschenhua]

Yes, that’s why Alaska is the richest state in the US

[@Bucks7542]

I’m a very conservative guy and I’m for a ubi. I think we need about 2000 for adults though. We could reduce our welfare state. It makes sense. We have money for bailout so we have money for this

[@archmad]

2k x 328M people x 12mons, probably more than US GDP per year. math people, you need math.

[@CrystalMouse1]

Kyle Corbitt also it would get rid of social security inequality. I’m disabled and don’t get senior discounts or perks the elderly get but my income is 1/3rd of the minimum wage in my state. I’m completely dependent on my husband financially. UBI would create independence for millions of people with disabilities.

[@thewizzard3150]

@First Amendment The have not's will always take from the have's, they have no choice. There is nothing you can do about that! the only question is; is it to be done by violence? or do we work out a system where everyone benefits. you don't seriously think I am going to let you eat your dinner in peace, while I stand here hungry!

[@primeroyal7434]

@First Amendment USA spends 2.6 trillion dollars on welfare, while it only needs 2.4 trillion dollars to give people 1000$/month. If you get rid of this ineffective welfare system, introduce a new form of taxation, you can give people 2000$/month.

[@drlt3375]

I like the idea if we can drastically decrease government

[@The4Tifier]

Universal Basic Income wouldn't even have become a concept if people were simply paid what their work was actually worth...

[@NightMourningDove]

Exactly

[@ForAnAngel]

Where the Yang Gang at?

[@spinnetti]

I had never heard of him a few months ago, but I really like what he's got to say.

[@Prague3203]

@gespilk Economy was put on hold because there's a pandemic, pretty much everyone is out of money. The Yang Gang are most likely saving up to drop money bombs for his potential 2024 run

[@Prague3203]

@gespilk Ive heard your speech before, but you never clarify what a "REAL" UBI actually is.

[@Prague3203]

@gespilk You mean authoritarian socialism/communism?

[@Prague3203]

@gespilk That is the definition, yes. What you're suggesting is a very poor way to structure an advancing society because its not incentive-based, and it promotes more corrupt behavior from the US government system by setting the precedence of seizing wealth/assets. The point is to preserve/reclaim freedoms, not strip more away

[@maddie9185]

I like Andrew Yang. His ideas are very progressive and very doable.

[@brandonelliott7297]

Yeah I 1,000% agree that Andrew Yang should be president, but what I want to know is why do progressive candidates always lose early in the primaries?? Ugh we'll never have an Andrew Yang or Bernie in office. We get blocked out by neo-liberal candidates (Obama/Biden) or by racist Republicans like Trump

[@mikebar42]

It's a great idea on a world level but as a world where Countries are still fighting

[@asalamander7182]

Actually, his ubi proposal might not be what you think. His plan is for 1,000/mo to replace ALL social safety nets.

[@kimobrien.]

@@asalamander7182 That's right its just another do nothing political scheme. We need escalator clauses to fight inflation and a cut in hours with no cut in pay to fight automation.

[@EyeoftheTiger1031]

Get rid of the mega wearily tax loopholes that are ever prevalent in our legislation

[@michaeld4861]

@She’s so Lucky The ones that allow companies to funnel money through the Cayman Islands for one. lol Ain't nobody fooled by that shit. We all know google and amazon don't make all their money from the 3 people that live in the Cayman Islands.

[@marsrows2167]

There is no such a thing as loopholes it’s a leftist talking point. Taxation is slavery. Taxation makes people poor.

[@mannyredd]

You're Awesome Andrew Yang !! 👌 Finally someone that's smart and cares for us little guys

[@billymankenya]

How can you be poor in America unless you are lazy. Please explain. With all those opportunities in education and training. Give me a break

[@TomisaLami]

@@billymankenyawhat are you talking about?

[@ConsumerWatchdogUK]

Bollocks, he's just trying to buy votes with other people's money. Output isn't going to be increased by stealing from people who produce and invest, then giving it to people who do nothing.

[@alanhonlunli]

Once he said Value Added Tax, I knew he was a fake. VAT will increase the cost of goods, thus negating the benefits of UBI. The poor will be a bit better off. The middle class will windup paying more than they gain from UBI, and the wealth of the rich is unaffected, because much of their wealth is in the form of investments. What we need to do is tax capital gains as regular income. Andrew Yang is just another stooge for the rich, he spitting out "ideas" that ultimately fix nothing.

[@kimobrien.]

@@alanhonlunli You've got that right he wants to end Social Security also another welfare promises with UBI.

[@kirmie44]

Yang Gang!

[@donngreitontordilla1456]

Right here, baby. Still at it. Yang Gang!

[@Estabanwatersaz]

Yang gang!

[@SlothKing33]

YangGang love

[@donngreitontordilla1456]

Yang Gang!

[@Rickwmc]

3:38 Pay check to pay check jobs are subsistence wage jobs which offer unaffordable benefits. People who favor UBI are not lazy, they just don't want to work at exploitative jobs. It's not a question of common people being lazy, it's question of the ownership class behaving like bandits.

[@codacreator6162]

Yup. And a kind of corporate exploitation of the fact that living wage jobs are disappearing. I've heard too many times from my peers that they're just happy to have a job, like it's a gift from the corporation and the value they bring to the company has no bearing on the transaction. It seriously depresses me, especially when benefits continue to be eroded and bubble gum programs take their place in-house: wellness programs that "pay" you for "healthy" behaviors but don't (honest, I swear) penalize you for not taking part in them. Bull. If you want to encourage better behavior, give them a greater stake in the outcome not just trinkets on a health website "market." They've shuffled the healthcare investment dollars around so many times, involved so many 3rd parties, that you have no idea WTF is going on anymore. Only that your family deductible is now $8000 and the likelihood that you'll meet that in any one year is nil. And for the privelege of eating $8K out of pocket, you'll pay $6K in premium. In what world does that sound like "insurance" to you?

[@matthylkema2717]

You have no idea how business and economics work. Would you prefer there be no "owner class" with jobs provided to you? Maybe you should consider thanking them instead of hating them.

[@peanuttasty247]

@@matthylkema2717 What if we extended democracy into the way businesses are run? Those who work in a company become the only shareholders, combined with transfer of wealth for social spending. Workers can vote on how their business is run, whether to elect managers, etc. In this system, the state doesn't own companies. There isn't a divide between workers and owners despite there still being some hierarchy in pay. Workers are owners. Combine this with a UBI directly from company dividends for all people (as Yanis said) and basic socialized functions such as health care.

[@NYCeesFinest]

Added Value Tax and Universal Basic Dividends and Public Equity Trusts sounds genius.

[@lucasdieguez1244]

The recipe of disaster, as seen in South American countries. Stop feeding the lie; anything that gives the government even more power over people will end in a starving mass of idiots idolizing their leaders from their poverty houses. Open your eyes, you're just in time to avoid the catastrophe.

[@Raphael11001]

@@lucasdieguez1244 The problem in South American countries is with the high level of corruption and mismanagement of capital. No true UBI has been implemented in any South American country at a large scale. You have some cases of non-universal basic income where it is used as a political tool and excludes certain groups. In the 2010s Brazil had an incredible growth, but the government didn't go far enough to invest in the people or infrastructure. In 2020 Brazil has now become the epicenter of covid cases in South America.

[@Raphael11001]

@gespilk You make a fair point, though I disagree with it. The money must always come from somewhere. If we go by your standard then the only "true" UBI is when the government prints money or use the profits of state-owned companies to fund it. The way Mr. Yang proposes still makes it a UBI, in my view. It just happens to also work as a balancing tool for wealth inequality. If you have an issue with that part then you have a problem with taxation in general, since that's how tax works.

[@Raphael11001]

@gespilk Ahaa, I got what you mean now. You are saying that wealthy individuals should be forced to fund it, by law. That with a VAT-funded system the funding would be dependable on wealthy individuals spending money? Yeah ok, I can see what you are getting at. It's a valid concern for sure. I personally think it's unrealistic to say that wealthy people will stop buying products. What I can agree is that for example a land tax could be more effective and less variable, but that would also make it way harder to pass. Another alternative would be a tech fund as mentioned in the video. In the end there might be better ways of funding it, but those would make it impossible to get the wealthy people onboard.

[@lucasdieguez1244]

@@Raphael11001 I'll be blunt: in my 44 years of age I've never seen universal income being used as anything other than a political tool. In my country, this has been going on for the last 80 years, and poverty has been multiplied from 25% to about 60%. Meanwhile, the tax payers give 55% of their salaries to the state that supports said universal income. FIFTY-FIVE PERCENT. You work 7 months a year just to pay taxes to a government that gives you terrible public education, inefficient law enforcement, bad public medicine (hospitals are now collapsed, despite the "preventive quarantine"), and a retirement that's not even enough to pay for rent. I'm not saying you are not right: I am saying that those who see the problem from afar have no real dimension of how bad the situation can get.

[@livelearnandteach7402]

It will come in when the poor are so poor they have nothing to lose and the rich feel threatened. Then in will come UBI (aka the please dont riot payment)

[@Parrotting]

Lol

[@andrewsomers1909]

Funny,but jokes aside if pp, can't work and times get rough for the less fortunate riots are almost for certain 😉

[@andrewsomers1909]

People can't work i meant to say

[@timfrudenberg8324]

So much sense talked in this video. UBI is pretty much inevitable, I sincerely hope that it's implemented very soon ✌

[@GarlicGrinder9]

Write to your state represetative and/or congress person and have them advocate to it so fhat the Biden administration can start work on it! The video is right, we have to reframe the idea of "progress." It doesnt always mean "up," it needs to also mean equality if we're going to survive.

[@andrewsomers1909]

Me too, I can't find a job anywhere its depressing

[@GarlicGrinder9]

@@andrewsomers1909 i have 3 years college in me and SOME (Admittedly very little, literally like 2 shifts ever) work exp. So that makes it VERY hard for me to convince people i have and have used skills that can help me at work to even get that first job. Im a great guy, my problem is transportation and tiring due to my health. I can do a task for like mayve an hour at a time, or light work.. And even thats SORTOF a lie.. i font actually know what im capable of. I have no "training" and cant be a cop or solider due to genetic CKD. And im 21. WORST time to be me at my age. Everyone wants people that magically have 1-3yrs experience, not some kod trying to overcome an illness and BARELY make money it'd probably literally be cheaper to give me this UBI than make me work and cost you money to train me because my condition means my work is slower, albiet decent I think.

[@andrewsomers1909]

@@GarlicGrinder9 hang in there bro , I'm a carpenter by trade which is usually seasonal at best now with this covid its virtually impossible so now I'm left living on peanuts lol, and like u said hirers want experienced people but how do u get experience if they won't hire u due to lack of it lol its a shit show, anyway merry Christmas to u stay strong

[@nenmaster5218]

@@GarlicGrinder9 ...UBI and versions of it like the Baby-Fund, were covered by 'Some More News', like in his video 'Obvious Solutions to Obvious Problems'.

[@smallstudiodesign]

The fact that UBI has become part of the debate is incredible. Also - an Asian American, plus an openly gay candidate along with a more woman candidates ran for democratic leadership to enter the presidential race is HUGE!

[@kimobrien.]

Its just another proposal meant to save on government expenditures at the working classes expense.

[@anthonypettid1786]

Those who thumbs down are the people who are already completely taken care of, selfish people always want to feel superior, it’s disgusting.

[@kanedNunable]

so many people seem to be happy to be serfs to the right wing or neo libs. its so annoying we are capable as humans of so much more but so many people are lied to about what is possible, the rich do not want changes.

[@ernestmac13]

UBI, Universal Healthcare, Universal Higher Education, and making housing affordable would transform America.

[@briangruenewald7536]

And THAT is how we make America truly great :)

[@nickking6371]

This entire video is church. So well and clearly spoken. Thank you for your videos. Huge fan. I share them all the time.

[@modernmind5872]

The boom to the US economy from the increased spending power would be unprecedented.

[@Gastell0]

Spending power of the past could be considered a statistical anomaly level of patheticness

[@SABaruj]

Seriously? you have to think this: how you will pay it? by increasing taxes? printing money? no, having more deficit as a goverment leads to a big debt, if u cannot get any more of it u will print money or raise taxes, and thats called socialism, from there its crisis and inflation and you are living it today. Biden do not even knows how inflation works and i had seen any kind of country living with inflation with their leaders blaming and making excuses about why its happening, no, its not russia, its not the war, as long its not the speculators, its not the fuel or the gas, no, its your goverment fault, but, do not expect the one its causing it to resolve it.

[@ScaredTurtle]

LOL, Federal Reserve telling us why we are losing our jobs... Yes, let's trust the architects of inequality to tell us the truth, and lead us to prosperity!

[@mikelarrivee5115]

Nice

[@Raphael11001]

You can quote independent sources or publish your own research to show how the jobs are being lost. In the end most people choose to believe a narrative, be it illegal immigrants, globalization, trade deals or automation. I trust numbers, not people.

[@mikelarrivee5115]

@@Raphael11001 i respect your opinion, but you should probably trust theory over even numbers, that way you can always figure things out deductivly and then empirically, which helps sort out bogus numbers. Sometimes numbers are full of fog, as with the case of minimum wage law numbers, and though reputable studies have worked that out, it came much later than the theory predicted result.

[@Raphael11001]

@@mikelarrivee5115 I don't disagree with your rationale. There are cases where the numbers don't show the whole picture. At the same time theories don't apply to every case scenario. My point is that it's still important to look at problems with a critical mind. If the numbers are foggy then get more data points. New problems may require the development of new theories. Newton's law of gravity was good enough until Einstein refined the theory by thinking critically and doing the math.

[@mikelarrivee5115]

@@Raphael11001 yea suffice it to say were both right lol, i disagree far more with other people than with you

[@timwoodger7896]

Who ever brings this about deserves the noble peace prize

[@seanu6840]

Tim Woodger well they gave it to Obama the first year he was President when he did absolutely nothing for it, so now that it's worthless I suppose anyone could get it that is the Nobel prize

[@MrOrangefuse]

@@seanu6840 😂 awesomely said

[@silversolver7809]

@Brandon Palmer "Spain has implemented it" Really? Last I heard, the citizens initiative didn't get enough signatures to warrant parliamentary consideration. I'm pretty sure I'd have heard of anything since, so if you have a source, please share.

[@JoeKerr1492]

The people who brought this about in past socialist countries ended up causing untold starvation and death.

[@thecontrarian1446]

@BallOnEm PBS No, he didn't. He accomplished being the first biracial President.

[@wombatpuppy4436]

Yes

[@__-tz6xx]

Positively yes

[@ericartman0]

Wait until the robot wave hits after Corona. Why hire human anymore? Before you ask the design bots and the repair bots have that under control thanks. Have you considered universal income? All the A I thinks you should.

[@Prague3203]

The office workplace is already becoming obsolete. Businesses figured out its far more efficient to have people work from home: 1) No building to pay utilities or property taxes on 2) No extra staff to keep the building clean/operating/safe 3) The employee is absorbing the operating costs; ex: electric bill, rent/mortgage, etc. All of that maximizes ROI. The next step is automation.

[@boxer1dog]

@@Prague3203 I think Corona is moving this into fast drive.

[@tripsalloveramerica689]

The problem with UBI is that it will make the major corporations more greedy so they keep incrising the products prices and hello inflation

[@TonyChester]

The Federal Reserve must have 2% inflation, as we don't have that now, they will have to start giving money to everyone. I expect the $2k a month for all will be here soon. This will allow the velocity of money to pick back up, driving inflation back to it's desired 2%. The big problem is hyperinflation could follow quickly if we've got everyone with money, all buying the same stuff, all while that stuff is limited in supply due to the cerveza sickness.

[@Azural]

um what? Are you talking about the USD? If you are then you must have missed the key part USD is the global reserve currency... there will never be enough USD in the world because all business is done on the USD and all other currencies in the world is averaged to the USD. The inflation bullshit is for countries that aren't the GRC which basic macroeconomic principle applies, however as the literal BACKUP of all other currencies in the world combined... inflation is artificial adjusted by the fed and not tacked on to a real demand/supply dynamics. You look down on youtube channel comment section and see all the people that failed macroeconomics 101 or skipped the chapter on global reserve currency period, the shadow currency war for regional "deutsche mark" has been on going in the last 20 years with advent of the Euro as a counter measure, to China now pushing RMB to be the pan pacific reserve currency decoupling the reliance on the GRC of the USD.

[@TonyChester]

@@Azural It's the global currency until it is not. All fiat comes to an end, the USD is on that downward curve. The Fed Reserve wants 2% inflation and to get it, they will give money to the people.

[@seanengelsen7267]

@@AzuralIt doesn't matter what the Fed does. The USD won't be the world reserve currency for much longer mainly due to more attractive alternatives and it's debasement over the last hundred years.

[@matthylkema2717]

@@Azural never say never. America is soooo complacent. We're untouchable! We will always be chasing the standard of living and lower wages will always be chasing higher wages.

[@superj-man137]

The idea of a UBI is great, only if we can stop companies from raising prices due to "forced inflation."

[@Gastell0]

UBI would need to be tied to inflation anyway, so that'll be a bad idea for them to raise prices over the inflation without a good justification =)

[@spinnetti]

Great conversation, thanks. Just thinking about the cost of administering Welfare, food stamps, Aid to dependent children, unemployment etc. and the associated administrative waste would pay for most of it. Just get rid of all of that and replace with UBI. Cheaper in the end and helps everybody reducing economic friction. The poor will spend 100% of it maximizing the multiplier effect. Seemed shady to me at first, but I say make it happen, and make it happen now. The economic concentration in the .01% will eventually lead to the end of our democracy if we don't do something and soon. I like the "public dividend" idea too.

[@kimobrien.]

Sure in Yang's Brave New World there will be the ultra rich like him, Ben Shapiro and Jeff Sachs and everyone else on the dole at subsistence wages.

[@83shaunam]

This was my first thought. I have a disabled child and with the homecare nursing shortage, I'm unable to work. Taking care of a quadriplegic child with a feeding tube and vent is a full time job in itself anyway, even if I could get away in order to work. But we get SSI, food stamps, medicaid, and I recently took advantage of a paid parent program where parents can take training, get hired by an agency, and get paid to care for their own child. And this program only came about because of covid because covid made the shortage worse. They can discontinue it at any time, even though the shortage is worse than ever. So between the ssi, the assistance, and a meager paycheck, we're getting by. But I can't help but think of all the money that goes into these programs as far as administration. Every month I have to send paycheck stubs to ssi. Every 6 months I get a jfs review. It's so much time on effort on both ends just to make sure only the "right" people get assistance. But what if we could do away with all of that?

[@12KevinPower]

I like how this video ends about talking how Big Tech are too massive and how do address how to restore more equity in society while we are in a moment where Big Tech can censor opinions because they want to.

[@johnholmes9435]

The point of constant innovation is to steadily increase the efficiency of production. I've never heard of someone who thought that innovation is a good thing in and of itself, regardless of its its consequences. If the old way of doing things is the most efficient way possible, then innovation would be completely pointless in that case. The point of innovation is not simply to do something new, regardless of how useful or harmful it may be. It is to do things better than they have been done before.

[@stevenngov]

How do you notice our economy was missing something if it was never there? Maybe we never even realized why our economy needed a moral compass until this glaringly obvious moment. Human-Centered Capitalism is a necessary revolution. The extreme choice would be to keep going like this. “Revolution will happen either before or after the breakdown of society. We must choose before.” -Andrew Yang

[@alloomis1635]

you could organize, create democracy, and socialism if most want it. you could educate every child, feed them well and enlist them in support of the nation. but you just complain when yer supply of peanuts is threatened. i sympathize, but my experience has been that if you make little effort, you get little reward.

[@spain1983carlos]

A disaster world is more expensive than a happy world with UBI

[@TheExcellentVideoChannel]

If the only means of generating the money to provide UBI is taxation then you would require a one world government to ensure multinationals can't divert their profits to low taxation jurisdictions. Bottom line has always been if you increase tax beyond a certain threshold then tax collections diminish. The only other way would be if each country were to magic money out of their asses ... i.e stimulus or quantitative easing i.e more debt kicked into an infinite future. Anyone else get the feeling that the only reason the financial system keeps working is because the vast majority think that someone else understands it. We've gone from fiat currencies to fiat economics where infinite debt isn't a problem so long as you think it isn't.

[@raulyepez1427]

00:50 that is a good argument but here is my rebuttal. I believe it works well for Alaska due to their commodity of oil, giving them a better economic standing to be able to implement this concept. We must also take in account that Alaska has a smaller population compared to other states making it financially possible. Taking this concept small scale to large scale will come with more complexity and problems in trying to implement the concept.

[@JerrySeriatos]

right, there isna fund that controls and manages it, kust like in norway. Then population is limited so per capita come down to some good dollar. It is an actual economy, exploiting a commodity.

[@FiveBangers]

Healthcare costs would need to be fixed first

[@mikelarrivee5115]

Yea how exactly? Its because health providers leach off of private insurance users that medicare can be so cheap. Take away private insurance and prices have to go up, or quality down. Either way fuck it both options are ass, deregulate and let the market sort it out, at least we'd be free individually to plan for our own health needs without being shackled to the life choices of everyone else in a public system

[@ForAnAngel]

Actually, the first problem we need to fix is our democracy. If we don't fix that first then nothing else will be fixed.

[@orionxavier6957]

Healthcare needs major reform, like our two party political system. But that kind of reform really requires tearing down what exists and replacing it. The American Medical Association has to go. It's an institution founded by a world banker, designed to for profit first and foremost. You don't reform that kind of institution from the inside, it changes _you._ That's why everyone is complicit within our healthcare system. The institutions has all the power, and you have nothing. For example, there's no way to run a clinical trial/study which shows the flaws in the system. Like, how natural cures can reverse disease. The studies never reach a conclusion, or they are run incompetently, or never funded from the beginning. Or, they actually reveal something that deserves public attention- _like the extremely powerful effects of Iodine against coronaviruses_ but the public is never informed. Bret Weinstein pointed out the flaws of most laboratory mice due to breeding practices (having extremely long telomeres- the structure at the end of a chromosome), which brings into question the FDA approval of many pharmaceuticals which are not fit for human consumption. Since, these tests did not show a true reflection of the likely cancer markers. This was all quietly dismissed by "experts" except for Nobel Prize winning Biologist Carol Greider who allegedly used his discovery to further her career.

[@mikelarrivee5115]

@@gorgthesalty the reason there is only one provider of internet is because the one area provider does such a good job that it would not be profitable for another company to attempt to try and take over the market. In the free market the threat ifnlosing your business always hangs over large and cumbersome corporations and new businesses coupled with new technology always manage to break down all barriers to entry in every free market. Has it occured to you that you are having a choice of internet provider rather than say mail provider or maybe horse and buggy pick up area? Massive companies rose and fell to gain portions of an ever changing market through innovation, progresses so fast that all but the absolute most business savy companies die within a few generations and most within one year. The corporate giants of today will be gone tomorrow, unless government takes on more of tbe economy, and I'll be educating tomorrow's idiots on how the corporations of today went down. The main point is either your one service provider will provide you with good services, or not so good. If not so good, then they create market incentives for entreperneurs to create rival businesses or to inovate their market out of existence. No corporation in a free market can erect a permenant barrier to entry such that no other company can compete, and then proceed to charge outragously high prices. On the other hand if it's true that you are getting good services from your one provider, why are you even complaining?

[@mikelarrivee5115]

@@ForAnAngel yea i agree, ban democracy lol the idiots count as much as the educated, keep it strictly consititutional and have a process for changing amending the constitution that is very difficult, say 3/4ths of all people vote to change. Do most of the litigating through courts reading the law and laying down precedent. Fuuuck the democracy of today lol.

[@liveyourlife7367]

Just make everyone do something for the UBI, like sweep the street, volunteer work,,etc.

[@zontarr8812]

Yeah , mandatory to run 2km a day at least and soon we all will be fit.

[@urbanwarchief]

Kinda messed up how folks will turn away workers for not jabbing themselves with an experimental drug

[@sidekick96734]

Talk about being a hoarder! The fact that a rich person can drive past a homeless person at a stop light says a lot about their humanity.

[@g550driver13]

Do you propose that he stop at every intersection and hand out money?

[@adriantween584]

I don’t hate the homeless I drive past. I just don’t feel I have the power to help them all by giving them money. Some homeless are addicts. They need psychological help, something to do, food and shelter. I don’t want to finance drugs by giving them my pocket change. I offer food, but believe it or not, many homeless prefer to get money. Many homeless struggle but giving them a salary rather than a donation is much more useful. Don’t put a bandaid over the solution. Go to the root of the problem.

[@Deedee-ee1sg]

UBI is a good idea, particularly right now when millions of people are losing jobs due to covid!

[@opengolfcoursesnow8603]

Lol so the elite can do as they please and if you don't agree they withhold your basic income. Wake up this is not a good thing.

[@zontarr8812]

@@opengolfcoursesnow8603 so you complain of something you don’t have that you could lose ? Let get the thing, than complain if we lose it, is more logical yes?

[@mellow9299]

We should do both what Andrew yang is saying and the guy right after him. You’d be able to tax the rich at a cheaper rate and get less stock from companies. Win win for everybody

[@UBIAICOSMOS]

Thanks for supporting Basic Income🙏🙏🙏 Dignity Life For every one. Basic Income is a human right

[@SABaruj]

I live in argentina, Socialism doesnt work, its the recipe to destroy a country because.. who will pay it? how much u will raise the taxes to do that? would you simple print money? we live that there every day and half of the population or even more recieves something from the goverment.

[@NastyCupid]

17:30 , this gentleman is basically saying : ''BEZOS, THINK OF THE CHILDREN!''

[@riggmeister]

Absolutely spot on, all of these guys are correct. Public equity based on stocks and shares of every company makes sense. There is no opportunity for poor people to join in the spoils of the stock market so let's give everyone a share by default.

[@kimobrien.]

WTF do we need a betting parlor (stock market) for in the first place?

[@Leftatalbuquerque]

Margaret Thatcher said that socialism was fine until you ran out of other people's money. While, as a Canadian, I like a social safety net and medicare, I know these are a result of us all contributing for the common good. I wonder that if a Basic Income were to come in, that Private Industry would index prices/inflate them to compensate. Did a house in 1965 cost as much percentage-wise to a person's income as it does in 2020?

[@VegetableFRIES]

How come they don’t talk about Asian businesses and people in that clip when talking about the 6.6 million unemployment? Asian ones were suffering the most as well...

[@Xpistos510]

Why don't we have bipartisan support for UBI on Capitol Hill?

[@nsrc4031]

Poverty and economic instability is a good business and also politicians love having that power and control over poor’s poverty and middle class economic instability.

[@NashHinton]

Capitalists need unemployed and desperate people so they can continue to exploit them.

[@zshn]

UBI does give money to people, but it also pushes cost/increases inflation. If $1000/month UBI was implemented, then rent, insurance, auto, mortgage rates, medical, airline, etc costs would automatically increase since the prices in these industries/markets are highly unregulated and subject to supply-demand. So the theory that people will be able to 'afford' more because they have 'free money' is an illusion, because basic need institutions now can charge higher too since they know you have atleast 12k a year to spend. Through UBI, we just made 12k a year the new '0'.

[@projectw.a.a.p.f.t.a.d7762]

Seems like it's on it's way!

[@Viperzka]

It's wonderful to see so many liberal and conservative voices supporting UBI. This is the only direction that makes sense going forward. The real struggle will be how big it is and how to get the money but those are questions of how but we need to get together and agree that it must be done.

[@KevinAndrewRea]

A maximum wage combined with a UBI would go SUCH a long way to keeping in check unfettered oligarchic capitalism... Beyond that - those two policies would solve an extremely nuanced equation of issues that barbaric hierarchy has inflicted on so many lives. THAT is real “trickle down economics” (or trickle up). A heron’s fountain of wealth.

[@CrypticRite]

All I read was no more nice vehicles and electrics, and much more drug use.

[@jish55]

@@CrypticRite you act like most inventions were created with the purpose of getting rich even though that was never the case. Implementing elctricity nation wide was a race for who could put their name on the map, the original motor vehicle was created as a means to no longer rely on horses, ships were created out of necessity for survival, the original plane was created to test the limits of human innovation, the original phone was created to move towards a far quicker form of communication, the original computer was made to solely process information for things like science, the original internet was created to advance communication. Now what all these have in common is that none of them were created with the purpose of becoming wealthy, they were created to better humanity. It's when those who see these decide to take them and make them slightly better to solely make profit, which in turn leads to a greed like mentality, but if that's no longer the case, and money is no longer a driving force behind creation, then people will return to creating for bettering society, not to make money. Without money blinding people, we could have different companies working together to create better products since they no longer need to compete, thus weakening both products.

[@daniellassander]

Those two policies would ruin the country if you had any sort of understanding of economy but you dont, so you dont have a clue what those two things will actually do. So let me inform you, a maximum wage, well what do you think those people that reach the maximum wage will do? Work more for free, or work just enough so they reach the maximum wage, or even worse they relocate to another country. Either way you have less productivity, which leads to higher prices and you being poorer. The UBI is such a horribly bad idea its painful to hear it be brought up again and again, where will the money for the UBI come from do you imagine? Well it will be us the tax payers that pays for it, because the only money the state has to use comes from our taxes, so we pay for it, so either it does nothing. Or even worse you try to enforce some more redistribution by tilting the taxes over to the rich, and those who earn a lot. (well under your scenario these people dont exist, with a maximum wage) so you end up paying for your UBI yourself. But lets say there was no maximum wage, what do you think the rich people will do? They will take their money and move to another country and now they dont even pay taxes in your country anymore so you dont get to see their money anyway. All that happens is that you are now paying $1050 a month to the state, so the state can give you a $1000 UBI because the state needs to hire people to sort out the UBI that is those extra $50 that you pay, which is just an example. You just make yourself poorer if you implement either of these two ideas, and you make yourself even more poor with both of them in place. You get nothing extra, except higher taxes, higher prices and less money all combined into one horribly bad idea.

[@DonCDXX]

@@daniellassander You're the one with no clue. A maximum wage wouldn't likely start until over $5 mill, though returning to a 95% marginally tax rate on over $1 mill would be good enough. No one, literally no one, who earns more the $5 mill/year is actually earning. The majority are overpayed CEOs and hedge fund managers who literally do more harm than good to the working class for personal profit. The majority of the remaining people making that much are overpayed entertainers; actors, musicians, athletes, etc. Their work only relates to earned value because of advertising revenue. Advertising revenue is 100% tax deductible, which means it's essentially the tax payers paying for them in a market which has established it's value because of it's tax status. How much harder these people work is irrelevant as they create no market value for their labor. They are parasitic in the current state of the economy, far more than all the welfare recipients over the last decade combined. As for paying for UBI, it could be easily handled by the above mentioned tax and perhaps supplemented by a VAT as Yang proposed. If done properly, people earning double the median income would still get more than they pay towards the UBI. If coupled with a single-payer and a free college system/student loan forgiveness program. the 70-80% of families living paycheck to paycheck could finally have some disposable income the could spend which would stimulate the market massively. Add to that a single-payer health care system and free college/student debt forgiveness, then suddenly there's so much money that's currently stalled suddenly moving around the economy again. These policies aren't economy destroyers, they're economy savers. They push back the inevitable rise of socialism for another few decades at least.

[@mikelarrivee5115]

You have no relationship to economic reality at all, what is unfettered oligarchy capitalism? How will taking money from productive people, and the people with money are the most productive people, and giving that money to poor people be they unproductive or not increase the public wealth in general lol, ill give you a hint, it won't

[@jonasruttert7191]

Finally Yang on Big Think. Thank you. Future president!

[@Hooper-fy6si]

It would work if you got rid of redundant government agencies and red tape bureaucracy and corruption

[@vorbis4860]

I like how politicians do the bidding of tech and corporate guys that believe in "revolutions of innovation," but the one place a revolution of innovation is not tolerated is in politics.

[@tmuir2801]

$500's not enough. $1000 a mth. is needed for basic needs.

[@ingebygstad9667]

Of course it's not enough, but I think he meant that it UBI should be fed to the American people gradually, as going from 0 - 1000$ would be in general a bad idea. I agree with him, as I live on a pension and have been a poor guy all my life. I'm not American. Giving money to people who don't understand basic economics, importance of saving, how to pay bills, or plan economically for a month.... How do you think that would turn out? Many would go nuts, and spend it all - which would be good for the US economy. So technically, no harm done. And I assume they'd learn to adjust themselves gradually within a year or two. And for those who knows how to handle an economy, the money are damn well needed. So what to do?

[@THEMithrandir09]

Extreme wealth causes extreme poverty elsewhere. That needs to be compensated for. Also inheritance is inherently unfair.

[@seanu6840]

THE Mithrandir09 Wow I just responded to your comment on my string, and then I see what you posted here and I realized you are the target market group that this video was made for and exactly what I meant by the weak-minded... Real quick do you know what "target market group" means?

[@KevinAndrewRea]

A maximum wage combined with a UBI would go a long way to solving A LOT of issues (at least in the US).

[@THEMithrandir09]

@@seanu6840 I do, telling an academic to be weak minded is a bold claim and no I am not part of said target group. I live in a European country and already receive something very similar to UBI. It works, we don't have anyone missing rent payments because of Covid19, the number of coronavorus cases has been going down for months now, instead of going through the roof and we are back to normal, besides sometimes wearing a mask when it makes sense to do so.

[@MrOrangefuse]

Inheritance is inheritance. It's none of any one elses business.

[@THEMithrandir09]

@Venturing into the Brine How is "haha your family is poor" a good argument to defend inheritance?

[@shrekvt]

People who say someone has a net worth of $190 billion and therefore can afford 10% extra income tax, doesn't understand personal finance and needs to go learn more about it.

[@qhack]

Using Alaska as an example of the benefits of UBI is disingenuous. First, a dividend from oil, while similar in concept, is not UBI. Second, the cost of living in Alaska is far higher than any other State. People like to claim that the cost of living is due to Alaska's remote location, but that is also misleading. Yes, there is a cost with shipping goods to Alaska, but that isn't the main factor in the high cost of living. The Oil Dividend is the primary driving force of Alaska's inflation. UBI, no matter how you pay for it, will always increase the cost of living to match.

[@FoxieAdjuia]

This country needs better change in so many ways. This UBI is a step in the right direction in my opinion as an American.

[@seanu6840]

Foxie Adjuia you're like that part in the Rocky movie where he talks about when his dad told him that since he's not that smart he should be a boxer. you should be a boxer!

[@FoxieAdjuia]

Shawman Null you are so sweet for replying, and sharing in the discourse. I’m not to sure how the algorithm for KZbin works but I think comments of any kind make a video more visible or something. What do I know 🤔🤣🤪. Stay beautiful Kid.😇🥰

[@seanu6840]

Foxie Adjuia somewhat inaccurate you ever wonder how despacito got 6 to 7 billion when there's only two billion people who have access to the internet in the world? One could suppose that's it's related to any devices IP address accessing the video, others might speculate though it has to do with conglomerate companies funding certain videos in order to promote certain ideas see it makes sense that despacito would become a multi-billion viewed video especially after Trump's comments on Mexican trafficking, if you look at the timeline the chronology even make sense. This video will be suggested on KZbin to multiple people regardless of its views because of the benefactor of this video is that yang young guy who was running for president. And I'm sure he paid a pretty penny for it. PS have you noticed the lately for the past two or three years the only videos that trend in the music section for KZbin, or videos related to either feminist agenda lgbtq agenda or BLM agenda?with the exception of trending videos for are already existing Stars. it goes without saying that if you cross the border to Canada and you look at the trending section the entire algorithm of KZbin changes countries like the US do not have a free KZbin it's very much for sale

[@swdierks]

This might work if you eliminated ALL govt welfare programs and wrapped them into a UBI. The problem is that there are tens of thousands of bureaucrats and academics whose careers are dependent on this huge govt bureaucracy. These people buy politicians, so there is no way that the dozens of govt welfare programs are going away - ever.

[@MaaveMaave]

Yang's proposal does replace all welfare variants with a single UBI. Lobbying is a separate issue. Lobbyist typically invest their money where it can generate returns. The "welfare lobby" is tiny, industry lobbying to increase profits is where the money is.

[@lifeordeathllc3022]

Politicians asking for more taxes and don't correctly manage the current tax intake smh

[@MCC4RTHY1]

Very interesting.

[@anonymwho7263]

I'm a billionaire 1,000,000,000 I can buy a very decent 4 br home for $300,000 3333 1/3 times. Thats 9.13 times every day for one whole year 365 days. There are people already on there way to Trillionaire status. Once Ive made over a billion dollars unless I'm an idiot with money why do I need anymore than that in my bank account... And to answer that question if I've legitimately made a billion dollars ethically and legally I'm obviously very good at managing money and could create it again over and over. There should have been a built in personal wealth cap/tax decades ago.... If rich families, banksters, corporations were kept in check there would be an excess of wealth that could have been used for ubi, healthcare, arts, humanitarianism etc. There is zero political, elitist will to have a utopian-esque or even somewhat fair society. What people are forgetting is your politicians, your employers managers are literally power hungry idiots who get a woody over having a title behind or in front of there name. They enjoy depriving you, telling you what days you can have on and off for vacation or sick. They get off on the power trip of demoting you, firing you etc if you so much as disagree with them in front of their subordinates! These are just the people you work with, imagine the distorted egos working in govt. You have to be some kind of sociopath to want to control every aspect others lives. 75 percent of govt are Ill qualified, amoral, immoral, there to fulfill a void, manipulative, the worst kinds of people. Power hungry people and greed go hand in hand.

[@12presspart]

yes there are very few people these day investing say £10 in a business and ending up will a million after a couple of years is very rare eg the self made man most BIG money is old money and they wont part with it readly so change the tax laws stop offshore it can become a reality also B.I. has got to be international for it to work we are in the begining stages but as jobs paying a living wage gets less and less the need for it will grow as for people spending it on drugs and alchahol what is society doing about it now nothing if you follow guy standings web its been tried out in Africa and parts of india with great success people chronic unemployed have started small business up kids have gone back to school instead of child labour it also has had a benificial effect in Finland as well also it has improved the physical and mental health of the people that received it

[@GorgonDrageil]

UBI needs to come with training... A lot of people are _terrible_ with money... especially those who have never had much money. If UBI could be used to promote spending that boosts the economy, maybe by rewarding little bonuses, that would be helpful. Would also be interesting if it was lowered by 5% for people who just buy booze and gamble lol.

[@Jonylino]

But isn't that just paternalism, why should the state decide what you can or cant do with your money? Who is to say that it's more valuable for society that someone buys himself just fancy designer clothes with this money to make others feel inferior, but it's less valuable for someone to buy booze for him and his friends to have a good time? And again this is just plain old punishment for the poor; nobody could tell a rich guy what to do with his money, how many yachts or vineyards to buy

[@FlutterSwag]

this^ educating people is the best we can do

[@GorgonDrageil]

@@Jonylino I can see how it's overbearing to police people's spending, but... personally I'm at a loss for how to avoid the potential destructive sides of UBI (complete and total self destruction lol) in favor of it's more promising upsides (human flourishing). At the very least financial literacy should be a part of the package. So that, rather than paternalism people are armed with the knowledge to make their own decisions. I couldn't tell you what is or isn't the right way to spend money though, and, I agree it's not simple to justify who's way of spending is "most right."

[@FlutterSwag]

@@GorgonDrageil its probably impossible to eleminate the destructiveness 100% but minimizing it would be ideal. Some drugs, alcohol, etc. Are all ok in moderation but the only way to minimize the overuse is to teach people at a young age not to abuse these vices

[@keenfire8151]

@@Jonylino typically, poor people don't spent money on drugs and gambling because they don't have money. If you don't have money AND you do those things, you need someone to teach you or handle your finances so your actions don't hurt future generations..ie your kids.

[@tomjohn8733]

Good idea, but how does this solve inflation, cost-of-living, perhaps your idea, in conjunction with a minimum standard of living, starting with socialized healthcare like in other western countries, and affordable housing...

[@tgward313]

ubi could work in the short term but does not address the effects of boredom- the need to strive--- even the poor and homeless have goals to achieve--- and who decides the base rate--- ubi could easily massively expand the slums

[@johncayden8796]

Andrew Yang!🤗👍👍

[@Will-kl5ri]

YANGGANG2024

[@ZM7241994]

I'm not 100% against UBI, as automation is probably going to make many blue collar jobs obsolete, but the idealism in the comments section is alarming. There's a whole host of problems with a UBI that could easily lead to a dystopian future. This is a path that needs to be traveling at slow speeds with your high beams on, and not flying down it going 80mph while fidgeting with your radio.

[@Bejunckt]

10:40 I'm sorry, but what is his name ? I'd greatly appreciate if someone could answer :)

[@KBosch-xp2ut]

Chris Hughes. Co-founder of Facebook.

[@TheSilentNeon]

If you are referring to the Asian guy, his name is Andrew Yang. He ran for presidency in 2020 as a Democrat with great ideas some of which are Freedom Dividend(UBI), Democracy dollars (you getting free $100 to donate to your favorite political party), ranked choice voting etc

[@abcdefg-xm7dc]

Yang gang

[@KevinBGreen]

Universal basic income is going to be a necessity in the near future for sure. There are serious problems with simply handing out checks from the government unfortunately. There is a simple solution to basic income however. If basic income is run through the free market it can safely and effectively be created. In the first episode of my podcast The Kevin B. Green Show we discuss my solution to this problem. Free market basic income is truly the solution to the problem. If your interested in the concept of basic income and optimistic that it can be implemented and used to end poverty check out my first episode. The Kevin B. Green Show episode 1: The solution to basic income

[@nairsheasterling9457]

The market cannot solve the problems it creates, because those problems are in the name of profit. You'd need to shift the market away from profit which basically requires marxist ideology to achieve, although violent revolution may not be necessary. That argument is the equivalent of expecting your abusive partner to set your broken spine. The market cannot and will not help because they do not maximize their profits. Wall street alone is reaching massive profits while we loom on a mass eviction crisis and record numbers of Americans flock to food banks. UBI is the alternative to more and more draconian regulations that destroy competition and encourage further income inequality. Don't look to the market for help - the market caused and perpetuates the problems UBI solves.

[@KevinBGreen]

​@@nairsheasterling9457 You seem to have an extremely pessimistic view of the world and a limited understanding of how markets work. By implying that "violent revolution" MAY not be necessary shows your mindset is on the brick of causing serious harm to people around you. Along with making extremely irrelevant analogies to violent abuse is questionable at best. The free market has solved incomparably more problems than it has created and that is just a straight-up fact. The free market could solve even more problems if UBD was properly implemented. your ideology seems to be one part anger, one part hatred, and zero parts knowledge.

[@nairsheasterling9457]

@@KevinBGreen Ah yes, the "how can something that helps SOME people be evil?" argument. Classic.

[@KevinBGreen]

@@nairsheasterling9457 This is clearly a deflection response. Rather than making a genuine comment, you reply with an entirely irrelevant piece of rhetoric. Classic.

[@nairsheasterling9457]

@@KevinBGreen Ironic, considering the whole "the market isn't evil because of some dubious statistic about poverty" is and of itself a deflection. I'm not going to take your argument seriously because your arguments aren't worth taking seriously. So, bye bye! Enjoy you libertarian-right fantasy that will never come true, because guess what happens when regulations and redistribution of wealth doesn't happen? Monopolization and mass poverty.

[@clover7359]

The Alaska PFD is a "negative tax." The people of Alaska are having their land's natural resources depleted - they better be compensated in one way or another. The PFD is so people don't uprise about having their oil sucked up and get nothing in return.

[@kevinbickes8080]

There is a motion in Canada for UBI right now. Will apparently cost only 2% increase in sales taxes to realize.

[@harley6323]

Thats ridiculous. Nobody will work for less than $30 per hour if they can get $2k for doing nothing. This will cause massive inflation. If you can't make 2k a month on your own, something is wrong. Maybe disability is a better choice. Last thing we need to do is allow 18 year olds to get paid for staying at home, playing video games and smoking weed. I know, let's allow mass immigration with the promise of free money. What could go wrong?

[@charleschenhua]

I can take the UBI and live abroad in low cost area. Love it

[@Gastell0]

Considering that US taxes the income of US citizens abroad (just like North Korea), I don't see anything wrong with this

[@maneshchoudhary5908]

Instead of Universal Basic Income I think Universal Basic Services is better idea. Services like food, shelter, education, etc. Misuse of Services rather than money would be difficult. 👍

[@evandean9272]

Deficit based growth.

[@davidg.3406]

Andrew Yang for president !!

[@fozziebear5351]

Because Yang is not running, a vote for Yang is a vote for Trump because it takes a vote from Biden. And then you just made things worse by keeping Trump in office.

[@MrBizteck]

Ofc I hate Biden but anyone who votes for anyone else is voiting for Trump. And we cant allow that thing....to remain.

[@SumDummy]

This model is already being used on the Native American reservations. How is government dependency working out for them?

[@falconeagle3655]

Not really. UBI is not the same as welfare. I dont know what your net worth is, but your ignorant comment makes me feel like you dont have a lot of education. I honestly dont understand how some people are so cruel that they want to keep the children left to be dead hungry.

[@SumDummy]

@@falconeagle3655 You are comparing welfare to the reservation and native american benefits? It is not even close to the same. How far from the rez do you live bud?

[@sabienul]

@@falconeagle3655 Maybe you could try to educate us instead of throwing insults and accusing the poster of being a cruel person who wants children to starve and suffer with no basis to make that comment...

[@Psytheslasher]

Working just fine in alaska.

[@falconeagle3655]

@@SumDummy Native Americans are under privileged society. They don't have access to all the things of society. Furthermore a lot of property and livelihood was taken away from them by force. The money they are provided is for survival as they can't cope with the society. On the other hand UBI is given to general members of society. A poor but talented person can use this money to buy food while studying rather than doing mindless part-time jobs. That's the difference. UBI is an enabler for the poor to raise their status. There is always going to be lazy people but most people aren't lazy.

[@BigD4Real.]

One thing that is missing is that UBI is a tax on the future, UBI doesn’t come from taxes, it comes from inflation and wishful thinking. The US has been deficient spending for more than 20 years. The targeted inflation rate was 2%, now they just say don’t worry about it 3-4% is temporary...

[@missshroom5512]

This would be so appropriate for our times👍🏼🌎💙

[@townrumor]

That’s real slavery

[@zbo1]

Jackiechan.jpg

[@mutalix]

What UBI? Or the rat race?

[@FlutterSwag]

1-2k a month is slavery lol please grow up

[@schumanhuman]

The people of Alaska are slaves because they get a portion of the excess economic rent that the oil execs would otherwise keep for themselves? Then sign me up for slavery!

[@NastyCupid]

You are partially correct in that many people will be completely dependent on the state, however, here in Europe this is already the case in many countries, but so far Europeans are not considered slaves, maybe slaves with a lot of freedom, but than that doesn't really make us slaves does it? :/

[@sarenorbless]

I’m voting Andrew Yang 2020!!!

[@aronhorner4611]

Its easy to fool someone, but to convince someone that they have been fooled is impossible

[@fozziebear5351]

Then you are rewarding Trump. You are actually giving your vote to Trump. Pretty dumb move if you don't like Trump. Pretty dumb move if you do like Trump. Why don't you just stay home this year? This is why we need an intelligence test to vote.

[@sarenorbless]

@@aronhorner4611 Are you Racist or don't like Asians? I live in a Large Community and find most of them to be Quite Efficient in Math and understanding game Principals and community. On that note you would like me to Vote for 2 Mentally Deficient old Individuals that will never grasp concepts effecting other Class of Americans do to their Up Bringing.

[@MrOrangefuse]

Thank you for helping Trump win! 🙏🙏🙏🙏🙏

[@MrOrangefuse]

@@aronhorner4611 i like that

[@Chip1878.]

There should be a UBI tax on automation.

[@deckuofm]

The less people work the better. It means more technology.

[@lowket]

Universal Basic Income (UBI) can solve immediately: joblessness (no need to get a job if there aren't any), poverty (everyone start from scratch), dignity (no more social security with control, visits and forms), homelessness (everyone can rent or buy a home with a UBI because of a steady income), hunger (let automation by vertical farming and aquaponding solve the global hunger crisis), medical bills and needs (automation can step in to reduce the costs by 90-95%), and so on. It can be totally funded by raising income taxes to 50% globally, by taxing the same for every single robot in use, and by ending all subsidies, tax cuts, subsidies, wellfare, and so on. You can still work if you want, but you can also learn a new study, take a sabattical, travel around the world, and so on. By giving every individual on the planet a UBI, and everyone start from scratch, then all wealth plus recources(knowledge, supplies, building blocks) will be divided equal, and the entire planet will benefit.If automation, robots and artificial intelligence will take over in a good way, we can create a sustainable planet for 20 billion people without any problem. We as humans will get our dignity back, regain our freedoms, and can take all the time in the world to figure out who we are, and what we want to become.

[@jonasruttert7191]

Thank you my friend. It is rare that there are sane people who can use their head.

[@questfordopamine]

the only problem is that creating our current currency without cost is impossible. Thats why I think it is essential to get rid of tangible currency and make things like bitcoin (or other forms of digital currency) the only form of usable wealth. Of course that brings the big question of what happens to trading across borders. This digital currency would have to be used in every government and that will probably never happen..

[@FlutterSwag]

good luck convincing everyone to give up whatever they have worked to achieve for world peace, this world will hold 9-10 billion max without major terraforming we need to look beyond our planet sooner rather than later as well as improve our planet

[@CrypticRite]

I live on a reservation where people get $984 a month handed to them. I can tell you for a fact that you are incorrect. It will do the opposite of what you believe would happen. There will be a higher population of people who live under the poverty line, drug use will increase, and theft and crime will increase. Motivation and self drive will decrease, self preservation to an extreme degree will increase, and property value will decrease. Native Americans in some reservations get what some people think is a godsend, but I've seen those reservations, I live in one. The reality is not as sweet as it seems on paper.

[@JerrySeriatos]

sure but if UBI is instituted and there is still unsuccessful people around an IQ measurement will be mandatory and maybe forbiding them to procreate..

[@twoforty252]

and who would work to pay for all this?

[@questfordopamine]

to pay for what exactly..?

[@twoforty252]

@@questfordopamine for real?

[@Psytheslasher]

Did you even finish the video? They address that..

[@nataanda2486]

my suggestion: make tax for corporation universal, no tax havens anymore, and then corporations taxes will pay for the UBI

[@gabeidrissi5286]

Looking to UBI instead of working on the systemic issues that cause such conditions to arise for people to need a monthly payment is so cyclical.

[@jaykingsun7093]

Why isn't big business getting behind this? Wouldn't they want another excuse to pay us less?

[@terryroland3992]

Just remember how this got to where it’s at today. For it starts with you! At one point in time we all were complaining about Walmart’s growth of income, now it’s only about Amazon. ?. If u choose to change within the keeping of prosperity of the nation, then these changes aren’t to be influenced or In forced, it’s called we will have to adapt to all of it with our own choose of change. Example, there r a lot that still shop at grocery stores over Walmart’s grocery shopping, although still having to go down their aisles cause their grocery stores don’t hold the products they still need. That’s y I choose Amazon, so I can get that product that I can’t find in stores or is cities to far just for one product. And the main thing of all is to fight against Walmart. If it’s a tool I want, I go to Lowe’s, if it’s clothes I need I go to clothes stores no matter what. But if it’s something I can only get at Walmart, then I buy it from Amazon.

[@oneeyeopened8138]

On topic and what needs to be said in are capital

[@codacreator6162]

$2000 a month right now would save me from the inevitable, looming disaster.

[@rscar99]

UBI will be paid in digital currency and people will have to "voluntarily" provide digital ID to use it.