What Would Happen If Everyone Got $1,000 a Month? (UBI Theory Explained)

What Would Happen If Everyone Got $1,000 a Month? (UBI Theory Explained)
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[@danielobrien9502]

Money can't buy happiness, but it can pay off despair.

[@MarcusMaddox91]

Idk I'd be happy with $250k

[@treble8921]

​@MarcusMaddox91 Idk about happy but I'd be way less stressed with 2.5k to catch up my rent and turn my gas back on 😏

[@marksibert305]

I like your line

[@rifz42]

I bet it would keep a lot of people off the street and out of jail, which would be cheaper and better.

[@Warrenmitchum]

Money can’t buy happiness but it sure can try. And I feel if you give everyone free money. Then prices will increase ever so lightly to the point the free money just make things worse.

[@ucrjedi]

The goal of UBI is not happiness. It's simply not freezing or starving to death.

[@roofdogblues7400]

I would say the goal is order. People with financial stability don't feel desperate, so they aren't likely to commit crime for survival, feeling more secure and like your society isn't dog eat dog but actually cares about it's citizens enough to see to their basic needs does increase happiness. A happier populace creates a more stable, secure, and ordered society.

[@dtesta]

But if that's the goal, why should it be a "universal"? Then it should only go to poor people and not everyone. And then we get to a point where most socialist countries already are, like most countries in Europe that gives basic welfare money to such people.

[@1MarkKeller]

​@dtesta it's universal because automation and AI are going to take almost all of our jobs ... not just the jobs of the poor.

[@Alex-tx7ih]

On the other hand, I think removing the stress of freezing to death this winter might have an effect on one's happiness.

[@vdinh143]

​@@dtestabecause most people are poor 😂 either we don't make enough money or we work two/three jobs so that we don't die. The 13% number only shows one side of the situation.

[@TheZionrouter]

Anecdote for yall: The stimulus checks during the pandemic made it possible to leave my abusive partner. I was working and going to college full time and wasn't able to be financially independent- and that $1200 saved my life.

[@AdmiringObserverR]

amazing, so glad for you. i hope you are doing much better.

[@mrnelsonius5631]

I’m glad you got out. I fled an abusive marriage (physically, psychologically.. all of it) in 2021. I was homeless, completely cut off from checking and savings accounts. I’m 6ft tall and dropped to 127 lbs from food scarcity for a while. Still the best decision I could’ve made. Anyone reading this in that situation: get out no matter what they threaten you with and don’t look back. Call a DV organization for some help navigating it.

[@will.roman-ros]

​@@mrnelsonius5631I hope your situation has improved. That's quite the experience, but I'm sure it also made you more compassionate and thoughtful about others' struggles. I wish there was more help, more social integration.

[@j.f.fisher5318]

I felt like they were a UBI test run.

[@manbearpig9234]

Good for you!!!

[@philv2529]

Money doesn't solve all problems but it does solve a lot of them

[@memerthedealer]

It buys solutions to the problems

[@wuldntuliktonoptb6861]

It’s real easy for people who are so rich they don’t even know what it’s like to struggle always say money doesn’t solve all problems.

[@kckillakrack9714]

It doesn't. If you are irresponsible and lack discipline money won't change that

[@kckillakrack9714]

​@@wuldntuliktonoptb6861yea cause no one with money had to struggle first. No one is saying their are not a few lucky ones out there but that's a very small minority of people. Even bezos was working out of his garage at first same with plenty of other ultra wealthy people. The top % of earners are not them you only need to make $150k single a year to be a top earner

[@philv2529]

@@kckillakrack9714 if your car breaks down that's a problem that money can solve If you get cancer then that's a problem money cannot solve

[@MavericksDigest]

Sounds like the common answer is: the working class needs to feel like they’re going somewhere. No one wants to work just to pay bills. You give the average working person an extra $500-$1000 a month and people immediately feel better. So many people worry that if the working class gets paid more, they’ll be less motivated to work. No. They’ll feel less poor, something no one wants to feel

[@j.f.fisher5318]

Hard agree. Some folks are like "they'll just play games!" but game addiction isn't caused by games being addictive, but by a person's reality being unplayably broken. Same with Skinner box experiments and drug addiction.

[@1MarkKeller]

Safety in numbers, and that includes the numbers in my bank account ... the more the merrier.

[@phillipduvall8638]

Yep. People will always have a need to do something with our lives and free time because that's what it means to be human. Nobody can just sit around permanently, if they're able at all they'll want to do something. I know when I don't have a job even if all my bills are paid I can only enjoy slacking off for a short time. Doing valuable, worthwhile work will always have a place in humanity

[@WMDistraction]

Billionaires have way more money than they could realistically spend, yet they still work. These people’s own arguments are disproved by themselves.

[@ArticulateThat]

Progress and growth is a sign of life. Look at a flower. The moment it stops growing it starts dyingI

[@z-bird9548]

If UBI gets passed in the US, there needs to be some kind of “fuckery tax” where if prices go up the businesses raising those prices get taxed 110% so they actively lose money by jacking up prices

[@5353Jumper]

Most prices are based on consumer price tolerance, which does not actually change much when people have more money. A boring black coffee is only worth a couple dollars in most people's minds. Even if you are rich, you likely would not buy a $4.50 drip black coffee. The rich might spring for an $8+ coffee with artisan roasting, some nut milk, in an eco cup, with sprinkles served to them is a restaurant with marble counter tops. But they would not pay that for a plain black drip coffee at some diner because it is mentally not worth that much even if you have the spare cash. Only scarcity (or perceived scarcity) raises consumer price tolerance significantly. Housing prices are not high right now because people have more money, it is from market scarcity and all the news about prices being high. Food prices are not going up because people have more money, it is because the food industry oligopolies used the Pandemic as a way to scare the people (and the media) into accepting some scarcity pricing. Citizens having more disposable money does not raise prices, it just raises the volume of items purchased. Which at best only raises prices a tiny percentage.

[@hannnare1172]

The only way I could

[@hannnare1172]

@@5353Jumper

[@andrewhopkins3397]

​@@5353JumperI disagree. You don't seem to have considered things like monopolies or collusion. People don't want to pay $4.50 for a cup of coffee... But when a cup of water costs $5, a cup of milk costs $10, etc, then they will be forced to buy the coffee. Ok, coffee isn't a necessity, but people do have to buy necessities. If they don't have other options, they will end up paying more.

[@5353Jumper]

@andrewhopkins3397 a monopoly/oligopoly market uses scarcity to leverage prices higher. So it all still fits. If a cup of water is $5 then someone has taken over the water market and is restricting supply. In a market with lots of sources of water, then just plain water will never be $5 a cup because consumer proce tolerance will just go elsewhere to get it. If you want to sell your water for $5 then you need to put it in a fancy bottle, claim it is from some particularly good glacier in France and otherwise make it seem exclusive. Or be the only water sold at a concert, rave or monster truck event.

[@j.d.4697]

Worries caused by lack of money just drives people deeper into problems. It's a vicious cycles.

[@jimboneutron8399]

Honestly what would help poor people more than money given to you for free would be to just quit screwing poor people over. You are literally punished for being poor now and it just drives you more and more into the hole. I personally have experienced a lot of this. Late on a bill? Oh thats an additional $100 service fee for us to turn your power back on. Recently I wasn’t even technically late on my car insurance payment, they tried to auto charge my card and that card didn’t have enough so they tacked on a $400 returned item fee! So my insurance bill was $800 and I could no longer pay it because I wasn’t expecting to have to pay double for my insurance. You overdraft your account? Because you know…. Your poor? Ya lets tack on a $35 fee per charge to make sure their next paycheck just goes to fees. Every time you dont have enough money they screw you by making it even more money and it just compounds and keeps you from digging out. Before we talk about UBI i would rather address these issues because these issues are what really hurts people and keeps them down

[@Serai3]

If all the jobs are going to go to automation, what does it matter if people don't want to work? There wouldn't be any work for them to do anyway. By the way, considering that nearly HALF of this country lives paycheck to paycheck, I think "the only benefit comes at the bottom" is major reason to implement this. Only someone doing really well for themselves would think otherwise.

[@DanielLeivaCardozo]

Exactly my thoughts, saying the only benefit is seen at the bottom it's like, well of course that's the whole point.

[@IndomitableAde]

They don't even have to be doing really well for themselves. They could see themselves as "comfortably middle class" with a Puritan work ethic and think that poor people are poor because they don't work enough or worse, that they're lazy.

[@CalumL-fr6lg]

​@@IndomitableAde a lot of simpletons like that out there

[@roguered706]

Im surprised Andrei didnt touch on the Alaska oil dividend. Alaska has been giving residents an annual payout for decades as a share of oil sales. It's not a set amount, but from what I can gather a typical family could get between $5k- $10k a year. It is meant to compensate all residents for the natural resources being used since, as he mentioned early in the video, if we keep consuming all natural resources there won't be anything left for future generations. Its not about bailing anyone out if poverty, its extra money that improves their quality of life without destroying the economy.

[@yshouldifoogle6724]

Wrong its bot about natural resources compensation you are pulling that out of your rear end. Its to incentivize people to remain in Alaska. Its a hard place to live

[@aaronolivas6970]

It seems very bias in here

[@roguered706]

@@yshouldifoogle6724 I was simplifying since the details are not super relevant, but there's always some a-hole who thinks he's smarter than everyone else. The Alaskan Permanent Fund is an amendment to the Alaskan constitution (amendment text below). At least twenty-five per cent of all mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payments and bonuses received by the State shall be placed in a permanent fund, the principal of which shall be used only for those income-producing investments specifically designated by law as eligible for permanent fund investments. All income from the permanent fund shall be deposited in the general fund unless otherwise provided by law. [Amended 1976] They then decided to pay out a portion of the fund to all citizens- no strings attached. It can be considered an incentive the same way some states have lower tax rates for big corporations, but the point is that it's designed to benefit the people by giving them a share in the sales of their natural resources.

[@ryanheller5424]

The difference here is the funding of the Alaska dividend.

[@j.f.fisher5318]

We are all working to build the automated future the billionaires will own. It isn't just the engineers, programmers, and data science folks. The person making a breakfast sandwich a programmer buys on their way to work is contributing too. If everyone could just magically start subsistence farming their automated future would never happen. Even if it was just everyone except the tech folks. They need gas to drive, clothes and food, etc. Society is an integrated whole. We're all building it and we should all benefit from it.

[@alonzocalleros]

Maybe don't tax the crap out of the working class so they don't have to work all the time.

[@ThirtytwoJ]

So politicians can sit on arsses and sail on yachts.

[@happysquirtle466]

taxes are necessary for all kinds of things that you take for granted in your everyday life, so no

[@Blindjustice1776]

​@@happysquirtle466like gender reaffirming care, or paying for 10+m not-so-legals to stay in fancy hotels across the country? How about the billions we are sending Ukraine, but we can't even take care of our own?

[@Romns1513]

@@happysquirtle466 the point is, there are way too many kinds of taxes on everything and the government continually misuses and abuses it for things that DON’T help people. Why would anyone in their right mind want to continue to pay all that or possibly MORE (every time democrats want to raise them), when the system is clearly broken?

[@jamesdesmond6496]

100% agree. If you're going to give 1k a month why not just reduce the tax brackets so the money you make is more rewarded rather than 1/5th being taken for SS, Medicare, Income Tax.

[@BMFstudiosNYC]

My prediction: Rents would suddenly and conveniently jump up an additional $1000 a month. Landlord logic: "They got it. I want it."

[@Name..........]

They can make legislation against that

[@AetheriusAri]

@@Name..........they CAN….. but greed talks….

[@e1123581321345589144]

Yepp. Landlords are the most toxic people on the planet. You should tax the hell out of anyone who owns more than one house, and prevent them outright from owning a third or fourh. See how prices will start going down after that.

[@max1cp]

It wouldn't be just the rent... It would be everything going up in price. We are seeing the results on COVID stimulus checks right now...

[@lostbutfreesoul]

All Economic Theories are nothing more then explaining, and even enshrining, Greed.... What you put forth is one of the problems we will face during any economical growth, regardless of source. Want to know another? Too little money is in the system, leading to it's own Greedy Thought. To go back to the landlord as an explanation: Let us say, in this hypothetical, that the economy loses half of the income within it. As a landlord you could lower prices and hope your poorer tenants don't string you along on rent OR You can keep price where it is, knowing when the room is filled the individual is 'moneyed' and can pay rent We also know this as 'fishing for whales.' Added: The really twisted part is, when I thought on it some more, is this phenomenon is already happening in the Housing Community. Rents are going up even though Wages have not, and we find large 'Real Estate' agents are behind it all. The people running said agencies are doing the above Greedy Thought pattern I tried to describe, they are 'fishing for whales.' To the point they locked out 'smaller schools' entirely, having made it impossible for most people to afford the entrance fee. If Money in Pocket was the deciding economical factor we wouldn't have this real world example to point to.

[@txwolf9904]

The benefit I’ve seen in my research on UBI is that it combats the expensiveness of being poor. Instead of buying 15 dollar shoes that wear out in a year, folks are able to buy 100 dollar shoes that last 10 years. That saves 50 dollars (not accounting for inflation)

[@S1k18]

Then no one is buying cheap shoes... the cheap shoe market goes bust.. its gonna be another crash somewhere..

[@john7360]

And if people decide to buy $100 shoes a year? The analogy is flawed

[@roberteltze4850]

​@@S1k18not all markets need to exist. If the cheap shoe market dries up shouldn't those manufacturers shift to making quality shoes? Producers should be agile and react to market demands. Those that can't react probably deserve to go out of business

[@ChristineCircelli-go2yw]

​@@roberteltze4850No one deserves to go out of business unless what they are doing is somehow ruining the planet.

[@roberteltze4850]

@@ChristineCircelli-go2yw I disagree. If I start a bakery and charge $500 for a loaf of bread and refuse to adjust my pricing then I absolutely deserve to fail. A business must adjust to market demands, they don't have an inherent right to exist if they aren't meeting anyone's needs.

[@kiwi_welltraveled4375]

Money won't make you happy But I would rather be rich and unhappy, Than poor and unhappy

[@jimbelt7208]

A thousand dollars a month wont make anyone rich.

[@kiwi_welltraveled4375]

@@jimbelt7208 Mate, it's a metaphor, not to be taken literally..........

[@kareem8250]

Duh lol. Like duh. Obviously it wouldn't​@@jimbelt7208

[@NickVS]

@@jimbelt7208 rich is relative but for someone making $2000 a month doubling their income it's the difference between having a family, getting a better less abusive job, starting their own business or going back to school.

[@sedrosken831]

@@jimbelt7208 Well, certainly not, but if the bills are paid and food's on the table, and that isn't likely to change, it can do wonders for a person's mental state. I'd argue $1000 is too little for that metric, but it'd be a start, and it'd be a hell of a lot better than nothing. Perfect is the enemy of good after all.

[@arod2799]

The problem is corporate greed if we do get that UBI, they will think its theirs to take from us

[@greenith]

Though it’s a good way to get corporates on board with the idea of UBI, if more people go below the poverty line, they will buy a lot less.

[@anthraxfan93]

This is where taxes come in.

[@LPMutagen]

​@@anthraxfan93businesses will pass the increased tax burden through to their customers via higher prices.

[@adamtruncale7545]

Or everyone is getting $1000 extra dollars that means I can lower wages.

[@anthraxfan93]

@adamtruncale7545 nope, along w higher taxes and increased min wage every year. About time we made America great again!

[@davidbeppler3032]

When this was tested. People climbed out of poverty. Got better jobs. Made more money.

[@john7360]

'Better jobs'? What does that mean?

[@roofdogblues7400]

@@john7360 It means they were able to get some degree or certificate or otherwise acquire skills that allowed them to attain a more respectable career or higher position or to move to another field that they enjoy more.

[@andrewberg5266]

Can you site the specific study? Where? When?

[@davidbeppler3032]

@@andrewberg5266 Yes I can. Do your own research. Do not trust people on the internet to inform you.

[@davidbeppler3032]

@@john7360 What job is better, extended car warranty salesman or Registered Nurse?

[@XanderXel91]

Money won’t solve all of your problems but it does solve the ones needed to keep you alive and functioning normally in society.

[@m.russellader3995]

You only touched on the most important piece of data we got from the study. People prioritized their income and went to the doctors and dentists more. Instead of giving free money, give the essentials to improve the population. Healthcare, education, food. I would say housing but our own government is screwing up that with self imposed scarcity by making it so hard and expensive to get permits. Straight cash doesn't mean it will go where it needs to go. But universal healthcare, a food stamp system that applies to everyone off $400 in food a month, and free college for everyone would change the world. Give a druggy $100 without limitations and it will be gone in an hour. Give a wealthy person $100 and he will invest it. Give everyone $100 in groceries and no one goes hungry for a while. Health insurance is the only reason many seniors are still working at Walmart. They own their own homes, many with pensions, but they have to work for health insurance making them slaves well into their golden years.

[@metalwolf112002]

This is the comment I was going to post if someone else haddn't. Just plainly giving people enough money to meet the poverty line isnt enough unless you add the line "this is a basic income, it will not go away if you make certain amount." I have known a few people who would turn down extra work because if they accepted it, their paycheck would be too high and they would get money withheld or something like that. I would be all for something like "everyone gets a government HSA account" or "everyone gets a credit towards their mortgage or rent." What we need to do is figure out how to prevent "I dont work because if I did, i would earn less than I do to do nothing"

[@JensPilemandOttesen]

Solve poverty with money. Solve homelessness with housing. Solve sickness with healthcare. This is obvious and it works well in Scandinavia.

[@charleshadle9376]

The circumstance of healthcare, housing, and food insecurity is the biggest problem.

[@user-oc2gb3tx3w]

Yes

What do they have in common? Government spending...

[@Tehblood]

they do not. it's lobbying against consumer protections and deregulation.

[@Disthron]

You say tax the rich even more... as if they are already paying a lot of taxes?!

[@RowenaSnow-px3jg]

When people can't afford the basics and can't get enough pay to survive, health goes down, and crime goes up. We can either pay to end poverty or pay the much larger cost of poverty driven problems.

[@GUNNER67akaKelt]

For one, we need more affordable homes (not mansions).

[@rexona72hsuperdesadora]

Well UBI certainly will make them cheaper! hahahahaha

[@metalwolf112002]

Since when are they just giving away mansions? Or is this just a ill thought out way of saying "we need to limit the size of houses that can be built"?

[@GUNNER67akaKelt]

@@metalwolf112002 Your whole comment is ill thought out. Nobody is talking about giving away anything. Just building AFFORDABLE houses that normal people can buy and live in and still have money to feed an cloth themselves, instead of building more McMansions that only the well-to-do can afford.

[@metalwolf112002]

@@GUNNER67akaKelt The whole point is they dont simply throw darts on a board and go "we'll put a mansion here... we'll put a duplex here, and then we'll dump the refrigerator boxes in this alley right here." If orders come in to build affordable houses, they'll build them. until then, if Oprah decides she wants another vacation home, who are you to tell her "No! You have enough! We are going to tell you what you are allowed and not allowed to spend your money on"?

[@GUNNER67akaKelt]

@@phoenixcustomrifles1430 Didn't say anything about tiny homes, just normal, not-fancy homes.

[@solarisdevorak]

All the way of Star Trek. Eliminate money. Just get rid of money.

[@davidioanhedges]

Star Trek has essentially unlimited energy, and essentially cost free manufacturing (replicators) - so is a post scarcity society

[@talisredstar1543]

@@davidioanhedges This exactly. With unlimited energy, and nearly unlimited resources to build from that is why money became useless to the Federation.

[@thomaslarsen5743]

@@talisredstar1543 Not to be a super nerd here, but they eliminated money before inventing the technologies that allow for unlimited energy and resources. So they became moneyless before becoming a post-scarcity society. We already live in a society with enough abundance to take care of the needs of every individual the world over, but we have a distribution problem that keeps some extremely poor and others extremely wealthy.

[@Edgingwithaliens]

​@@thomaslarsen5743the distribution problem is called capitalist hoarding all the money.

[@counterflow5719]

​@thomaslarsen5743 by "distribution problem" you mean greed?

[@rorycolgan]

The thing is, I already compete with SSI, food stamps, tax loopholes, disability insurance, and bunch of other programs.....this would potentially level the playing field, and not discriminate. Inflation is a guarantee in a fiat model. I just want a level playing field where discrimination by law is neutral

[@ronpetersen2317]

The tax money would go from those kinds of programs to everyone regardless if they need it or not. Meaning people that need it won't likely have it as much. But such programs need to be ladders up and not just hand outs. That is why they keep failing.

[@OsamaBeenHarris]

The person who said Jeff Bezos could pay everyone on earth 1M dollars wasn’t the brightest crayon in the box

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@AssetPolitics]

We won’t know til he try tho 😂 😂🤣 jk

[@markwilhelm168]

That would be about 8.2 Quadrillion dollars. I believe that is more money than exists in the world. 😳That person probably ate the crayons in math class.

[@nospringchicken2211]

I used to see the same posts about Musk, lol.

[@Samsung03]

Who said that 😂

[@melindawilliams6624]

The reason people became unhappy the 2nd yr in the U.S is because they knew it was going to be taken away. 😢

[@lisaahmari7199]

😅 Probably true!!

[@martinbowyer7906]

That could be part of it, but I find it far more likely that happiness trailed off because prices start skyrocketing due to inflation. I think this should be considered when comparing the US one to the others.

[@stevenswitzer5154]

Yes, the stress was reintroduced with the reintroduction of the stressor.... Ground breaking stuff

[@SophiaAphrodite]

@@martinbowyer7906 the issue is CPI has gone up regardless of income levels. An interesting fact is inflation was negative in the final year of the last minimum wage hike phase in. But the happiness level dropping in EVERY instance correlates with the loss of the money in anticipation.

[@johnpaul6760]

A Government big enough to give you everything you want, is a government big enough to take away everything that have. Thomas Jefferson

[@leojboby]

There are not benevolent altruistic corporations on the other side. I choose what we can in fact control better by voting.

[@LastDays-Ca]

@@leojboby *I concur… Over-View your notifications!!*

[@hansnotig6250]

i think the distrusted in the government is crazy in the US, look to Europe the have more social programs and the trust is much higher, not good but much better

[@johnpaul6760]

@@leojboby Karl Marx would be proud

[@dsflat6785]

CBDC's are coming, Thailand rolled out their 'Wallet' last week, scan you eyes, here's some free digital cash that can only be spent in certain stores within a defined location, oh and it's illegal to be critical of it Freedom seeking people are going to need a way out of dystopian CBDC's Bitcoin Cash: A Peer-to-Peer Electronic Cash System BCH is the better Bitcoin

[@jwetzel3141]

Maybe work on making the basics of life super cheap. But this is the opposite of what’s going on now.

[@gapete361]

I don't know why you think that other than humans have a basic impulse that we call, "The grass is always greener." That is exactly what is happening. Things have never been as cheap for so many as the situation we now have. This is spreading, not getting worse. The only thing we have to do to make a "utopia," or as close as we will ever get, is just keep doing what we are right now.

[@CalumL-fr6lg]

​@gapete361 not true. What we do now can never succeed in that goal.

[@Nick-4K]

UBI will work if the right regulations are in place. You'd have to to regulate prices and threshold people at 100K or less. Also, i know people hate to hear this for some reason, but people have to be capped at 250 Million a year. Rest goes back into the economy. If we want a Utopia? This is what has to be done. It wont be easy, but the truth is the truth.

[@rob679]

This would be only possible if cost of manufacturing was constant, but it depends on so many factors that its near impossible to do so. And price regulation through history never ended well.

[@SomeoneElse-fr8yu]

I disagree with this. How people make money is the important part, not how much. If someone does something like make the next Harry Potter, that goes viral, they deserve all the money they get from that. But if they use psychological tricks and skinner boxes and charge insane prices far beyond the worth of something, then that’s bad even if they are making half as much as the next Harry Potter.

[@PeterWetherill]

In the 1950s the top tax bracket was 90%! The complete highway system was built, and the GI Bill made housing and education affordable for all veterans including my family, and in the 60s the US sent man to the moon. Hummm.

[@deadpolymers3416]

The problem with all of the test programs mentioned, is that they weren't UNIVERSAL. They were giving money to only small numbers of people. When the money isn't given to everyone, businesses can't raise their prices to take advantage of the newfound wealth every single customer now has. Raising prices, would drive away poorer customers who aren't getting the UBI checks, and only serve to hurt the bottom line of any business raising prices. On the other hand, when everyone suddenly has $1000 extra dollars a month, businesses can absolutely take advantage of the situation, because every single person who walks in has more money. UBI would have a hard time working properly in a country where prices are set in a free market, because that free market will always set the price at what the customer can bear. In order for UBI to be truly successful, some level of government regulation to set prices would need to take place... and that would be a bigger hurdle than actually finding a way to fund UBI in the first place.

[@gapete361]

I am so glad that others see that.

[@BrAndroidB]

In a "free market" prices are ultimately determined by competition, not the buyer's wallet. For the "take advantage" theory to hold up in a free market, it must invoke 'time' in relation to price increases, while simultaneously ignoring (freezing) 'time' as it applies to new competitors entering the market. This conflicting recognition of time is illogical and does not hold up (except in comic book movies). Alternatively, the "take advantage" theory could function, in time, IF it is true that suppliers can increase price unilaterally without markets responding. While this is logical and functions both in theory and in reality... such an occurrence is inherently *not* a free market.

[@travcollier]

​@@BrAndroidB Prices are determined by the intersection of supply and demand, so it is a "both" thing. But you're mostly correct... The extra income isn't completely wiped out by increasing prices, assuming the markets are somewhat approximating a theoretical free market. Increased taxes are needed to offset the inflationary pressure though. Federal spending needs to approximately equal economic growth plus taxes plus inflation in the long term.

[@matthewrohr8964]

Corporations also have to be regulated. Price controls can be set. And they should be. There is no reason for supporting a system that automatically ensures that a certain percentage of the population starves or lives in poverty.

[@michaelmurphy2112]

@@matthewrohr8964 Yes, price controls can be set. But should they? What happens when the government puts an "artificial" price cap on goods? In the US, probably the best example was with gas prices in the 1970's. It very quickly led to gas shortages and people competing to get gas before others before there wasn't any gas left. In the (former) USSR, just go look at what grocery stores looked like in the 1980's and before. Price controls result in fewer goods being produced or the excess going onto the black market for significantly higher prices.

[@sapinva]

The qualifier "as long as they show a willingness to work". Given that literally, it is nothing more than guaranteed money for work, which is maybe a better idea. But that is nothing like the UBI as defined today.

[@randuthayne]

A.k.a. minimum wage

[@scloftin8861]

@@randuthayne Except lower than current minimum wage. 12000/2080 equals about $5.76 an hour. The first number being 12 months of $1000 a month and 2080 is the number of hours worked over a year at 40 hours a week. (Yeah, that includes PTO for those fortunate enough to get that). Lowest minimum wage is still $7.75 ... although a lot of those jobs don't get 40 hours a week.

[@nn99nn99]

Never forget: rich people generally want to discourage UBI

[@bdorr67]

We don't have enough money to fund our current obligations.

[@zcnaipowered7407]

The money is spent on war, just redirect the money to feeding the poor. Problem solved.

[@hogue3666]

Visa is fine with this. You'll know what to invest in.

[@michaeldalton8374]

Because not everyone pays taxes. And because they waste so much and steal the rest.

[@AnonymousanonymousA]

Healthcare stole a lot possibly trillions upcoding and lying

[@greenith]

If you look into the amount spent on social welfare programs and the amount wasted in just administrating them (which is quite high, due to them no being universal), that alone would take away a decent portion of the cost. The remaining amount could be funded buy a 10% VAT on goods.

[@Soljarag5]

UBI is universal.... If it has income limits it's not freaking universal....

[@k2peek]

Right, then it becomes welfare. Which we already have. And it works just fine if done properly.

[@tyrantla7120]

Means testing is just a way to turn people against each other and ultimately ruining the program.

[@the_walking_man1234]

In Spain exist the Vital Salary Income which is 1000€ monthly if you are poor. One million people are getting it. Results are: That people refuses to work because is not much difference in €€€. That people have plenty of time to do ilegal stuff. People with other problems like Amyotrophic Lateral Sclerosis are not getting any help. Taxpayers, small businesses and freelancers are very angry because high taxes. This VSI is marketed like one party success, so its buying one million voters or more that is expanding with more people every month.

[@k2peek]

@@the_walking_man1234 Why isn't this sort of dark side mentioned in the video?

[@the_walking_man1234]

@@k2peek I don't know. There is still people defending UBI and want to do it in the near future at big scale. In six years we will see some big change.

[@shadowsrose4978]

Should also mention why the study in the US was vastly different is because our economic system is so crap and we don't have universal Healthcare that the fundamental problems still exist.

[@5353Jumper]

Yeah I was thinking that the Canadian study did not see much change in heath, because even the poor have healthcare and better diets than the US poor.

[@shubhamcweb]

Companies and institutions will then just raise the cost of their products and services accordingly and the (tax payer) money will effectively just get funneled to them. Look at the eye watering cost of higher education and all the "grants" and "aids" that the government provides only to fill the pockets of these institutions.

[@kathleenr8839]

Exactly

[@matthewruhland8443]

Agreed!

[@LastDays-Ca]

@@matthewruhland8443 *I concur… Over-View your notifications!*

[@GhostSal]

If we have half (or more) of society permanently out of work, we can’t simply let them all starve and be homeless.

[@shubhamcweb]

@@GhostSal The solution to that is "educate and adapt". Or we'd be still riding horses and camels on roads today.

[@angela-r]

What a wonderful, thoughtful episode, and I agree with your summary at the end completely. Basic needs should be met for everyone in this world. No one should be suffering for the basics: food, shelter, etc. Then they can focus on other goals without the stress, such as working a career or a hobby to increase their income from the basic levels, spending time with family, feeling happier because they aren’t struggling so much. I wish this for all people in the world. 🙏💕

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@KAZVorpal]

There are basic economic mechanisms that guarantee UBI will always harm society.

[@Jackknife-TV]

Rent would go up $500 to $1000

[@ryancoffee2500]

Where the hell you live at with $500 rent??

[@ThugLife___]

@@ryancoffee2500 he lives in 1987

[@markoDhex]

@@ryancoffee2500 The comment says GO UP, not that it would be $500-1000 a month. Also, there are more countries than wherever you are, where rent is lower than $1000-500 a month. I pay $1850 for a 1 bedroom basement apartment with spiders in Toronto, Ontario 😅

[@puntvandekomma9498]

@@markoDhex atleast you got free pets :)

[@nancymcmonarch]

Not if Biden/Harris were able to pass the national cap on yearly rent increases. We have rent control in some parts of the Bay Area, and it's a godsend.

[@TrevForPresident]

Somehow I don't think they'd keep it "universal." If they start having income limits it's just yet another to bludgeon the middle class.

[@RUBBERGUMSOUL]

There will be no "middle" class. That's the point. 'You will own nothing and be happy"

[@gus24seven]

Do you understand that a ubi is a minimum allowance and not an income limit?

[@frankleeforgettable2026]

You can’t solve all of a society’s problems with just a UBI. You need a UBI, universal healthcare, competent public transit, AND the alternating workweek. It's not a matter of “pick one,” all four are necessary to build a strong foundation. Even if you're not interested in all of these yourself, how they affect the people you care about still impacts your life. No one chose to be born, we shouldn't have to struggle to survive!

[@Stockpickervalueoriented]

No such thing as “free”. Money would be totally worthless.

[@TVHouseHistorian]

If it isn’t worth my labor, then it has no value whatsoever.

[@asadsabir7718]

In a world where robots and computers are doing most of the work, there may be such a thing as "free"

[@TVHouseHistorian]

@@asadsabir7718 Humans unable to control their own destiny will not be free.

[@kumbawolf]

@asadsabir7718 I imagine people will not tolerate "freeloaders". What may happen instead is "service for benefits" or extra benefits for actual producers.

[@Grizzly_Adams.]

​@@kumbawolfyou mean if everyone is a free loader, then crime will be something everyone ends up doing?

[@Novaximus]

It's frustrating when you put in more labor and work in comparison to others around you all the while they get to experience a better quality of life than you.

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@angloblaxon]

Start a business

[@Novaximus]

@@angloblaxon 80% of them fail within the first year :/ I think if you do you've got to start small and ensure you get a return and grow it like making a campfire.

[@MVPTC]

Learn how to use your extra experience as leverage... you have to make yourself so valuable that they will pay you more if you leave or you can get a promotion

[@veiltricks2947]

You might be working hard at the wrong thing. And it’s not really how hard you work but work you work at and how replaceable you are. Even if you’re the hardest working best whatever if someone can replace you and get a percentage of what you do you’ll never make that much.

[@ericstockley]

You hit nail on the head that it isn't money that makes us happy, but the pursuit of goals we close in on. It is why self-improvement books and courses are so prevalent. I'm a strong conservative, but I see the need for safety nets. I just think they should be provided by small community based out reachs. When one receives a hand up, it helps self-worth if there is a way to give back.

[@dustinramose]

How about eliminating income tax and big corporate monopolies..

[@LastDays-Ca]

*I concur… Over-View your notifications!*

[@philv2529]

The United States already eliminates big corporate monopolies whenever they get a chance

[@greenith]

Well, UBI is like a reduction in income tax (returning tax money back), but if you set it at $1000, then you could also remove social programs that target unemployment as well (so overall, if you added a consumtion tax to pay the gap, your net tax (tax less the UBI) would be less for 90% of the people than what it is now.

[@lisaahmari7199]

How would we pay for road systems, fire departments, etc? Privatize?? 😅 Because THAT works!😂😅 Privatization always creates more problems than it solves...in almost EVERY area.

[@dustinramose]

@@lisaahmari7199 our money is taxed multiple times over, and they're already printing money at a whim.. 😂

[@FrankieBr]

I know you didn't ask for my opinion, but I'm going to give it anyway. While I must admit I really like your well researched videos and find them genuinely entertaining. Can we just agree that the Thumbnails with the market dropping in red and fire are little much in 2024. That's literally how I scan videos not to watch about finance. But hey... if that's what people are clicking on... I guess I can't fault you for that.

[@iknowyounot88]

Use dearrow to get rid of clickbait thumbnails and titles.

[@potofseed]

And yet u clicked

[@Disthron]

The reason many rich people are miserable is because they have cloistered themselves off into their own bubbles.

[@brianjohnson1346]

It would be like the end of a monopoly game when the person who won wants you to keep playing so they give you money…. Not that fulfilling for anyone else, but the person that won the game

[@jonah11111]

At least the game can keep going

[@brianjohnson1346]

@@jonah11111 BUT! Life is not a game for the people...

[@Babeatrice]

That is so deep and profound..

[@boybleu1023]

The game monopoly was designed to show how capitalism always creates one winner at the expense of the majority of people

[@brianjohnson1346]

@@boybleu1023 or how Communism ends in authoritarian control

[@justice4g]

imagine the control the government has on your life when you have to rely on them to that degree

[@nomad40025]

Well right now the people with more money than you have control over you. So either way it's not you. At least this plan is trying to give something to the little guy.

[@greenith]

Well, UBI at $1000 is a supplemental income, not a replacement of work income.

[@ZayOsirisGaming]

3:20 nah hold up! Don’t act like you didn’t just drop that reference 😂😂

[@Xairos84]

It's not ubi if it's targeted to the unemployed

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@mandypants226]

UBI by Definition goes to everybody. What are you talking about

[@chukazzz659]

​@@mandypants226: the tests had income limits. So it's not really universal.

[@Grizzly_Adams.]

​@@chukazzz659universal is when it's fully active. Universal will also be given to the global population. There's no reason for corporations to go along with it.

[@agustinpizarro]

The unemployed will keep unemployed

[@targetMove]

This can't just be free money printed by the govt. This should be based on the value driven by automation and collected through taxes or just automation building stuff? So before that we must see automation at scales where we should ensure that we have free food, free housing for everyone.

[@EmeraldGamingNewz]

Someone talked about this. They said if a company has AI doing a certain percent of work the company will be taxed more and a portion of those taxes would fuels UBI

[@floridiantv]

Noooo

[@targetMove]

@@EmeraldGamingNewz yeah, it's scary to think in the long run of it's impact though. Let's say if at some point even the govt functions would be carried out by AI and automation and at that point it would be hard to tell who is controlling what.

[@boybleu1023]

This is literally socialism but Americans have been so propagandized that they can’t say the word out loud

[@floridiantv]

@@boybleu1023 yep central banks amid part of communism

[@adaeterno]

not a single word about increased purchasing power, such thing will boost inflation a lot

[@brandontobias1138]

This will ONLY work IF it’s not funded by new/freshly printed dollars. If we take the same supply we have now and redistribute it, we may be onto something-but if we fund it by printing dollars everything else will just increase in price to respond to that. Awesome video 👍🏻

[@boybleu1023]

So socialism. You’re describing socialism. And I mean that in a good way.

[@brandontobias1138]

@@boybleu1023 nah not exactly socialism but maybe a blend between the two. Like a hybrid. We give people the absolute bare minimum to live WITHOUT printing more dollars to do that and then still have a capitalistic system on top of that. So it takes away their survival instincts but then allows for the growth/competition through capitalism. Thoughts?

[@boybleu1023]

@@brandontobias1138 so basically china’s system, which is a form of socialism. no need to be gun shy about saying the word, you’re a socialist

[@greenith]

@@boybleu1023 I would describe it more like the European system, as they have higher taxes but look after there people more.

[@greenith]

Best model i have seem was back in the 2020 primaries for the dem nominee.

[@privettoli]

The landlords would just raise the price of rent $1000 higher. When minimum wage rises, rent rises with the same proportion.

[@GhostSal]

If we have half (or more) of society permanently out of work, we can’t simply let them all starve and be homeless.

[@cjackfly]

...and those with lots of kids get rewarded that many x. The opposite of what the world needs now.

[@GhostSal]

@@cjackfly No, large families tends to be a cultural phenomenon and not simply a financial one (as well as educationally influenced).

[@philv2529]

Exactly

[@iSeekKnowledge1]

@@GhostSal The problem is, funding those half (or more) of society would come at the cost of the other half that is successful causing them to drop closer and closer to starving and becoming homeless

[@robhausenbuiller9511]

Basic income should only be one facet of the solution. Basic housing, basic food, and health care should also be provided for. Necessities should not be a commodity that other people can get rich from. Basic housing should be provided, if someone wants to live in luxury, they can work towards it. Basic food should be provided, if people want to eat lavishly, they can work for it, healthcare should be provided, if people want elective treatments, they can work for them.

[@JackFoil]

Ummmmmm we caught a glimpse of this in 2020 with the stimulus check like you said, but what about inflation?

[@LastDays-Ca]

*I concur… Over-View your notifications!!!*

[@philv2529]

If you print the money, then Inflation. If you use taxes collected, then the money supply does not go up, but the velocity of money will, so still inflation, just not as much. Stimulus checks were printed money

[@greenith]

perpectual UBI would be funded by savings from other programs and taxes)

[@IM2awsme]

The problem is that we have ubi in the form of food stamps. You wouldn't believe the stories I've heard about them and none of them are good.

[@DaftBlazer]

It's almost like when you're deficient in vitamins and minerals, when you don't have enough, supplementing it will help a lot and make a big difference. However, when you're already sufficient, it doesn't have much of an effect. Money can solve some problems but not all of them, like bad health choices, addictions, etc. I more or less just want more free time to spend on my hobbies if I could maintain my current standard of living.

[@rexona72hsuperdesadora]

"I more or less just want more free time to spend on my hobbies if I could maintain my current standard of living." Well, that's all UBI stands against for. Someone will need to work harder to provide goods and services who those receiving them. And guess what? Your money will have less purchasing power, so you'll have to spend more time working just to keep your current "standard of living" (which won't even be the same since you need to work more)...

[@down-to-earth-mystery-school]

Working less and UBI go hand in hand. Working less is amazing! Time freedom is nearly as valuable as money freedom. When I started my own business, it was scary, but I get to decide everything about my day and week. I rest a lot and feel no guilt about it. Productivity culture was completely invented by the rich, to “motivate” their workers to work harder, longer hours so they made more money. Rest is resistance✊🏼

[@DetourShirts]

Thanks for the video.... Most if not all of those studies focused on giving only a small portion of the population money. I believe that if everyone got $1000 a month, every month, forever than the prices of everything would eventually rise. Inflation would just level prices out to make the poor, poor again..... and there would be no way to turn it back. Thoughts? What I think would be better is that instead of money give people basic needs like food, shelter, healthcare and clothes, etc. like you said at the end.... so they don't have to worry about living expenses just optional expenses.

[@higreentj]

If everything was free we would see more waste. Cheap food has resulted in a third of food production being wasted much of it left on the farms to rot. If everything is taxed, and everyone over eighteen received a monthly income then we would see much less waste.

[@sindyarenas5758]

No because there is not more money in circulation. If it is funded through taxes and not money printing it should not cause inflation

[@greenith]

there are various types of UBI that have been suggested in the past, and the all reloved around a new tax and savings from other programs (social programs).

[@higreentj]

We could streamline the system by replacing all welfare programs and taxation with borrowing and a value-added tax. If we do it this way we can simulate inflation to combat the inevitable deflation that automation will cause. With general and superintelligence expected within this decade, rising GDP would allow more borrowing using the debt-based fiat currency system.

[@chrisfoxart]

​@@higreentjgreat, now write your representative that.

[@MVPTC]

The world would become a better place if people had more time to focus on their well being and their own passions

[@leetjohnson]

No it wouldn't....people are lazy already.

[@memerthedealer]

No the world would start falling apart working is to ingrained into our society if people stop society will collapse also if your not in a country that can support themselves your screwed cause who's going to transport anything when you are getting free money so no it wouldn't be a better place unless you think starving millions a better place

[@dakota9821]

My biggest issue with the concept of UBI: There's no such thing as a free lunch; Someone has to pay. Taxes are just someone else's money taken under threat of force.

[@jeltoninc.8542]

Everybody could afford Popeyes for dinner!

[@MissBlackFry]

Their chicken is sooo crispy! But I've never had Chik-a-fil, which is the best?

[@3Dimensional3]

​@@MissBlackFry Sandwich is better at Popeyes, service and everything else is better at Chick

[@BradyVaughn]

😂

[@ladasodaexplains3355]

OMG I'm literally eating Popeyes for my dinner right now!

[@JohnVito]

@@ladasodaexplains3355me too!

[@pushkarpethe4374]

Andrei, great research, amazing storytelling. 👌👏

[@MrSparkula]

Money doesn’t equal happiness but it does equal freedom.

[@moathalmahroqi]

Milton friedman negative income tax is better

[@scribblingjoe]

Universal Basic Income is wonderful idea but we also have to regulate corporate price gouging and rental rates. Giving people $1000 might just be a reason for your landlord to raise your rent or for food prices to go up.

[@Bionic9998]

The purpose of a UBI being Universal is not because it would make a significant impact on people who already have enough money. The purpose is to make it much more difficult for a future government administration to repeal or cut it. Medicare and Social Security have been around for almost a century now. These programs are universal no matter how much money you have you are guaranteed them. The promise of even if you one day lose all your money, you will still have these programs to fall back on is the whole point of these programs. For a UBI all you really need to do is expand Social Security to anyone 18 and older then remove caps on the taxable income towards it. You might need to increase some of the percentages in the higher income brackets and have large corporations pay more into it. The rich people getting those checks will also be paying more than those checks back into the program with their taxes. Another fault you focused on was other countries having health benefits but ours did not. This might have something to do with every other developed nation having healthcare provided to all their citizens. Even $1000/mo isn’t gonna be enough to convince people to pay for regular doctors visits.

[@rodneygoodall]

The most effective UBI concept I know of is giving everyone $1000 per month but when working or earning money, the more you earn the higher the tax is to compensate for the UBI payment. So if you need the money you get it, if you earn money the advantage reduces as you earn more. The best part of this is when a person loses their income they still get the UBI without having to apply for it. It is also cheaper to run, and removes a lot of administrative costs from the Govt. The UBI is doable in a way that does not affect inflation when done properly. changes need to happen but it is doable and the people who are in hard times can survive with dignity and people who do free labor (eg stay at home parents) get paid as well.

[@danielcox7857]

If that's how it would work then this wouldn't be considered UBI It would be considered welfare which we already have in America. Is this not correct?

[@rodneygoodall]

@@danielcox7857 No. The UBI is given to everyone and has no conditions attached to the money. The welfare system is only given after application and has a host of conditions attached and is removed when work is found (or when the expected conditions are met like finding a job, study etc) The UBI supports those who need it immediately, without condition, and is money for people who do free labor like child rearing. It also allows people to leave a bad job, or to start a small business, study longer or more study because less income earning is required and so on. You can call it a form of welfare, but it is not like the current set up.

[@bradlyhaskell9821]

@@danielcox7857 no welfare has to be applied for and can be taken away. Welfare spends lots of money to NOT give aide similar to how insurance actually (doesn't) work. The point of UBI is it has no red tape to get it is truly guaranteed. Welfare pays for red tape to not help the people who need it so why not spend some of that money to help people instead.

[@creaturelost4354]

How about the government just help with all these greedy corporations. Stop raising housing prices, inflation etc.

[@nancymcmonarch]

Biden's idea for nationwide rent control sounds excellent. Would also be great if all housing-related tax breaks applied only to one house per family; let the house flippers and investors pay their full tax debt on those extra properties.

[@manmeesarma2413]

Wouldn't work mate, wouldn't work

[@creaturelost4354]

@@nancymcmonarch Great idea.

[@nancymcmonarch]

@@creaturelost4354 Dude, if we didn't have rent control in Oakland, I'd have been forced out of here long ago (and a couple shady landlords def tried until the local judges shot them down). Some of these investors don't know the meaning of "enough money." Seriously, they thought a little old retired lady was ripping them off.

[@SomeoneElse-fr8yu]

My biggest problem with even trying UBI, is a lack of trust in the government. I want to minimize the government’s control and influence, because I believe that any control and influence WILL be used against the population.

[@rebeltheharem7028]

Well, inflation will get really bad, and that's the biggest negative side affect, if its going to be paid through printing money (things got so bad). If its paid through taxes, it might negatively affect the business environment (i.e. brain drain from less investment).

[@LastDays-Ca]

*I concur… Over-View your notifications!!!*

[@hansnotig6250]

so whats the probelm with inflation, the UBI would surely be inflation adjusted on a yearly/monthly basis? it could inflate the national debat away and als be an onavoidable tax for the rich, no offshore tax havens can safe you from the inflation tax lol

[@iSeekKnowledge1]

@@hansnotig6250 Inflation is bad for anyone who doesn't own hard assets. So at first, only low income earners would need UBI but as inflation worsens, anyone not receiving UBI would start quickly falling towards that "low income earner" level until pretty much everyone needs UBI. National debt would just get rapidly worse as we couldn't feasibly tax people enough to pay off the current debt and the rapidly accumulating UBI debt. The rich only have so much money to tax. Even many of them can't out earn a money printer stuck in overdrive

[@memerthedealer]

​@hansnotig6250 the problem will be no company or business will want to be here since they will get taxed more so we wouldn't have anywhere to spend all that ubi you get effectively making it worthless

[@hansnotig6250]

@@memerthedealer lol not when it's a OECD mimimum tax like the upcoming minimum corparate tax... where should the companies go, to china or india lol, good luck to them than

[@ehanni]

Every bit of automation that replaces a worker should pay taxes like the worker it replaced.

[@MrPAULONEAL]

Machines don't get paid.

[@ehanni]

@@MrPAULONEAL You would estimate the taxes on what the worker it replaced was paying.

[@TheOnlySaneAmerican]

@@ehanni lol no

[@links-gut-versifftergrunme1809]

I think when people realize, that they don't work for money or for a status they actually realize, that they are working to fullfill themselves and to better society. Hence: The best kind of work. The one that makes people happy and perform better at their jobs. The absolute opposite of the current working climate.

[@freeto9139]

Why is there the presumption that the Earth's resources are non-renewable? Still cannot define what it is that Bitcoin mines ... 🤔

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@iSeekKnowledge1]

I mean, maybe the oil in the ground will replenish, trees will regrow, water will rain down again, but how long does this take? Surely longer than what we use on a daily basis to support current human life, right? So sure its not "non-renewable" but using renewables at an unsustainable rate is the same as depleting the supply Mining bitcoin uses a renewable, energy, to mine something finite. Mining brings what remains of the supply into existence

[@SMGA14]

like it or not automation and AI will force ubi no matter what you do, it's inevitable since it'll replace all the jobs

[@madden12]

Cant replace plumbers, hairstylists, massage... and many others

[@SMGA14]

@@madden12 all of these will EASILY be replaced

[@Soljarag5]

@@SMGA14 define easy... Are you saying a robot will come to my house and fix plumbing? 🤡

[@SMGA14]

@Soljarag5 yes lmao, what do you think they're making figure 01 and 02 for, it's literally on their website they plan to eliminate these kind of dangerous and boring jobs

[@nancykraus5127]

Corporations pay ridiculously low taxes. Up their taxes because if we can't afford their products they are gonna fail eventually.

[@lambdanebula8473]

I'm not eve all the way through the intro, but here's what I'll say about UBI. It has a lot of problems. First off, and most simply, In order to avoid runaway inflation, you have to take out roughly the same amount of money that you put in. There's really no way to do this without stripping social security, which actually pays out more to recipients than UBI would be, and making substantial cuts in other areas too. It's also worth noting that tax revenue from the super wealthy does less to offset inflation per dollar than tax revenue from every day people, because the things they would've spent their money on if it hadn't been taxed would've trickled through the economy more slowly than, for example, an every day person buying more stuff from the store when they feel more comfortable with their finances. It's more about matching deflationary effect with inflationary effect, but now we're getting into the really complicated ideas so I'll leave it there. Then there's the bigger issue with UBI. Depending on your situation, people have a point at which, once they've got enough money, their free time is worth more than the amount of money they could make, given their skillset, if they were to work. Thus, they choose not to work. This would, without a doubt, reduce GDP and tax revenue, and to avoid going into severe detail, I'll just say it wouldn't be sustainable.

[@Kwijiboi]

Own nothing and like it?

[@targetedplantsguy9481]

I agree that is the mindset problem of the poor.

[@JacquelynLaRonde]

I am in Canada and am disabled. I qualify for disability (1300 monthly) but the poverty line is 2100. UBI would mean I could reskill my training (20 ys in IT) so I could put those skills to work. It would mean I could afford an apt that is accessible (elevator at minimum so I don't have to try stairs). It would mean I could afford to eat a bit healthier (fresh vegetables) to help my diabetes and IBS. It would mean my roommate could afford meds (we found a CBD that calms down her mind so she can sleep). Many if our purchases would stay local (food from farmers market when we have extra $), stimulating the local economy. Bringing us TO the poverty level would be life-changing! 🎉

[@BrianGivensYtube]

If you receive $1000 per month, your taxes would go up by more than that because the government has to administrate the transfer and that takes labor and time.

[@gapete361]

Hey, and don't forget prices go up because employers have to pay more for labor. They are not competing with the government for that labor. Sure, everybody gets a 1000 dollars more, but do they actually have more spending power? No, they don't. I'm happy to see people like you and that I'm not the only one that has common sense. As slick as this video is, I get the feeling it was paid for by big money, probably that openAI guy that gets mentioned.

[@ronpetersen2317]

And they have to raise the prices because the employers are being taxed more because they are paying for the "free" money.

[@Kwijiboi]

Yang Gang rides again. 😂

[@valb.1127]

In a nutshell: Early in the increased income, there is an improvement in their quality of life, and therefore, their happiness. After a measurable period of time, the overall "quality of life" settles in as the lifestyle that people have become accustomed to. If people are better off than they were, they will be happier and healthier, otherwise people will simply settle into a new pattern of 'normal'. It is best used to life people out of abject poverty into some level of sustainable 'comfort' where they no longer have to choose between food and shelter.

[@James-qi6zi]

The problem with these studies is that it measures the effects on individuals in a small group and not on the economy as a whole. But good news! We did this in 2020! Now for the bad news…

[@tylerowens2192]

Ha!

[@Soljarag5]

@@James-qi6zi and the 2020 experiment had an income limit, so it wasn't true UBI

[@TyroPirate]

What happened in 2020 as a result from the few stimulus checks?

[@nathanmezenghe589]

💯

[@AgeofCraccadilliaassent]

That was printed not in circulation

[@iheuzio]

Fednow will regulate spending if you look at the USA whitehouse 2021 whitepaper. UBI can be given over that median and you'll be limited to the government's basics.

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@hello_Blake_Alan]

Being born with rights to your piece of the Earth is such a great way to look at the topic of UBI.

[@luijiluiji7266]

Watching your videos from Slovenia!

[@LastDays-Ca]

*I concur… Over-View your notifications!*

[@rafalrocks]

UBI? Umm, it’s Black Monday, bro

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@HickoryBritches]

It's not about making people happy. It's about giving everybody basic needs. Nobody should be starving or unable to get health care.

[@Xairos84]

In this idea the money would have to flow very often. The idea of saving would be obliterated. And then the idea of immigration lol

[@nancymcmonarch]

? If were getting an extra thousand dollars a month, I'd probably be able to save at least half of it.

[@Xairos84]

@@nancymcmonarch I don't blame you for thinking this way. I thought the same because I'm looking at money through a current-day application. But in order for ubi to really circulate in a economic system, it's people have to not hoard the cash. In fact, I could see, long after you and I are gone, the govt forbidding it "don't be selfish, don't save it for yourself".

[@3Dimensional3]

The real question is... Will you receive UBI regardless of your annual income?

[@LastDays-Ca]

*I concur… Over-View your notifications!!!*

[@madden12]

Why not? But if ure a millionaire, whats the point?

[@AnthonyAllenJr]

​@madden12 sounds like it should be an opt-out, where they can forfeit their UBI or maybe donate it to charity.

[@Soljarag5]

@@madden12 net worth and income are totally different....

[@GrumpDog]

Scott Santens has an article on his site, about the right way to calculate the cost of a UBI.. Not by multiplying $1000 x the population.. Because that doesn't factor in savings on replacing existing welfare, and more importantly, it doesn't factor in the cost of the existing poverty, that a UBI policy would greatly reduce. He calculates the actual cost to be more around $900 billion.

[@waxo9246]

I think it's not enough for the amount of disruption that's coming

[@LastDays-Ca]

*I concur… Over-View your notifications!!*

[@nwChicago47]

Surprised he didn’t spend time walking through how ubi would be extremely inflationary.

[@davidioanhedges]

Not if it were funded from increased taxation skewed towards those who benefit from UBI the least - that would offset any inflationary pressure

[@demetriocran4123]

As far as I can understand, the research question was if it has a negative effect on people that otherwise is productive, we already know that money solve the problem of starving people because you can buy food with it.

[@DavidNosiri]

if they pay you, they will control you.

[@scloftin8861]

And this would be different from now how? Anyone with an employer is controlled to a certain extent. How to dress, when to show up, what to do and how to do it (unless you're really lucky and when new things have to be done they let you figure it out), and don't post anything on social media they can get annoyed about. Of course, the self employed who are making it, could always turn it down or stuff it in a trust fund for some other purpose.

[@DavidNosiri]

@@scloftin8861 well said. i agree.

[@Oilman6969]

For each unit created the old units devalue. This isn’t rocket science. It doesn’t work

[@LastDays-Ca]

*I concur… Over-View your notifications!*

[@azurplex]

Money isn’t happiness, it’s gratitude. You give a person in poverty some money, they are very grateful for it. You give a very rich person the same amount they don’t see it as much of a boon because they already had so much. Focus on gratitude and taking care of each other personally and happiness will be universal.

[@mbmatt100]

Pretty sure I don’t need a study to say if I don’t have to work I’m going to have less stress.

[@matthewruhland8443]

things such as rent would just go up in price.Why not just lower our taxes!!

[@hansnotig6250]

yeah but the UBI would be adjusted for inflation, like pension payouts or goverment salaries here in switzerland, so whats the problem exactly?

[@leojboby]

Wouldnt by the same logic, lowering taxes just make things go up in price as you would have more money in your pocket (which i suppose is your point). And as corollary then increasing taxes lowers the prices. Consistency.

[@matthewruhland8443]

@@hansnotig6250 So just government workers get inflation adjusted salaries? I can tell you for sure the average worker in America isn't getting anywhere near inflation raises. It would just be another government hand out scheme. Just lower peoples taxes for the money they fairly earn.

[@jaydenrussell7491]

@@hansnotig6250I don’t know I feel as if we would be even more dependent on the government and seeing how our taxes are being used and how they just keep printing money

[@matthewruhland8443]

@@leojboby I am not familiar with the thought of prices going up and down based on the taxes the government takes from you.

[@MotocrossElf]

We may not need a UBI for all citizens, but no one deserves to live in poverty or homelessness. It's been said that you can judge a society by how well it treats its most vulnerable. So far, most countries don't pass this test. There needs to be a minimum income level that all citizens can rely on. It won't make them rich, but it will give them a solid foundation to improve their lives and move into productive and rewarding careers.

[@EinsamPibroch278]

UBI is a great solution to minimize government spending on Federal Services. No need to have a National Health Service when everyone has their own money to buy it themselves. Same with EBT Food Services. You couldn't budget your Monthly Check for Groceries and Healthcare? That's your own darn fault. Provided we place federal Price Control, we can make UBI work.

[@WonderbreadXz]

1000 dollar doesn't go far in healthy care if you have health conditions on top of food and shelter. It not just a budget issue is a cost issue which as you say price control would help but until citizens unite over turned that want happen because they are politicians big doner that why price control hasn't been happening with rampant inflation the last few years.