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Universal Income


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#1 VictorMedvil

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Posted 29 January 2020 - 06:20 AM

I was wondering what people thought about the idea of Universal Income? What if everyone were to make a livable wage of $50,000 a year for free supplied by the government, would this not end poverty as we know it? Would it not increase economic growth and overall demand for everything making more taxable dollars for companies?

 

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Edited by VictorMedvil, 29 January 2020 - 07:17 AM.


#2 Flummoxed

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Posted 30 January 2020 - 10:58 AM

Interesting concept, not unlike giving everyone a basic set of credits that they can survive on, then any additional credits earned through some kind of work.

 

The idea might fuel inflation without price controls, so that 50,000 dollars today would be like 5 dollars tomorrow, unless the government was to introduce price control and fair trading practices, which might not be the ideal for the greedy.

 

How would the dollar then be valued globally if the rest of the world did not do the same, would there be implications there for trade.