$1000 per month (got another for you)

Discussion in 'The Lounge' started by old_rookie, Sep 9, 2019.

  1. old_rookie

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    One of the presidential candidates (Yang) states this is his plan:
    Give every American $1000 per month.

    Two questions: Where will this money come from? It is about $3 trillion per year. And does that mean Jeff Bezos and Bill Gates gets $1000 per month too? What about all those in prison who have done horrific crimes?
     
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  2. Neuroshima

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    My boy Andrew Yang! The Freedom Dividend!

    A deeply American idea. Thomas Payne was for it during the founding of our country. MLK championed it until his assassination. Milton Friedman and a thousand other economists signed a study that it would be great for the economy. It passed the House twice under Nixon in the 70s (but was rejected by Dems because it wasn't enough money!).

    And one state has had a dividend for almost 40 years. Alaska. And they pay for it with oil money.

    Right now our tech data is worth more than oil. Tech companies are making billions off of our personal data, and we're getting nothing in return. Amazon, Netflix... literally paid nothing in taxes.

    How to pay for it?

    The FD is opt in, and if one chooses, it replaces welfare. We already spend $1.5T, so cut the price to about half.

    A $10 value added tax, which every other advanced economy has except us, generates $800B.

    Factor in the money saved from homelessness services, incarceration costs, emergency room visits.

    Plus this money doesn't disappear. It would cycle on and on through the economy and generate hundreds of thousands of jobs.

    Call it a stimulus package for the people. Yes, Bezos and every billionaire will get it, they are American citizens. By making it universal, it destigmatizes the negative connotation of free money.

    Regardless of your thoughts on it, Yang is the only worthy democrat running.
     
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  3. Neuroshima

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    You don't get it in prison, and it doesn't accrue. A great incentive to stay out of prison, no? Why rob a liquor store for $200 when you get a check every month?
     
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  4. salt water guy

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    Go ahead with it old_rookie – take a whack at it. What do you think of this proposal?
     
  5. old_rookie

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    Hey I wouldn't mind $1000 per month.
    I brought up Gates and Bezos because the concept is funny.
     
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  6. salt water guy

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    I like outside of the box thinking. His views on AI are also intriguing. Kinda tired of the nonstop Biden this, Biden that...
     
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  7. kyle12345

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    I like many ideas floated by the Democrats, but like others mentioned I think it’s fair to ask how are we going to pay for it. For example, AOC and Bernie have big plans but their Achilles heel is they really don’t divulge how it’s going to get done. How much taxes will go up and for who. Something like 15 trillion for climate change, how do you even raise that much money, that has to be put to task as well.
     
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  8. swings are free

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    I'll take a 1000 dollar Payroll tax breck every month.
     
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  9. William Ritchie

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    Tax credit would be even nicer ! Somehow I don't think it work out for the populous .
     
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  10. old_rookie

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    Don't worry about it - it will just work out - you need to focus on doing.
     
  11. Werfless

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    My prediction? Out of control housing costs, sky high illicit drug prices, American currency devaluation, health care cost spikes, exodus of American dollars through the drug tunnels leading to serious crime waves south of the border spilling across.. yeah.. maybe I am just a pessimist
     
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  12. fisheromen

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    The old adage "there is no such thing as a free lunch" is still true!
     
  13. fisheromen

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    So, more of the same!
     
  14. Werfless

    Werfless The Coach
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    We are watching the toe of the giant right now...
     
  15. Larry M

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    My .02 cents,
    Sure take money from the tech companies so that everyone will receive $1000. Tech companies won't really care, they'll just pass that on to the consumers. Someone has to pick up the cost of this "free money ."
    Yang sounds like Hugo Chavez of Venezuelan who offered kitchen appliances at rock bottom prices for votes.
    Of course not to be left out Herbert Hoover said if elected that there would be a chicken in every pot.
    People being gullible is nothing new in politics.
     
  16. Neuroshima

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    It's important to understand WHY Yang is proposing this, otherwise it comes off as another democrat promoting free stuff. We are already in the midst of the 4th industrial revolution with AI and automation, and it's projected to displace more than 40% of jobs. The 5 most common jobs in the US are

    1. Administrative and Clerical Work
    2. Retail Work
    3. Food Service and Food Prep
    4. Trucking Driving and Transportation
    5. Manufacturing

    All of which we are already automating away. Government retraining programs have a success rate of 0-15%. So we can't retrain workers, and there is no work for them, what are we going to do for the millions of Americans left without a source of income?
     
  17. Neuroshima

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    Is it really free, though, or did we earn it? These companies are making billions off of our clicks, likes, and messages, all without our consent. Even as I type this, Google is sending this information to advertising agencies who paid a pretty penny, so they can throw up a fishing advertisement when I open Facebook.
     
  18. Neuroshima

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    Yang said he would tailor the VAT to more luxury items, so it won't affect the poor. But even if a straight 10% VAT was passed on to me, I would gladly accept it if receiving the Freedom Dividend. You would have to spend over $10k a month on consumables to counterbalance the FD.
     
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  19. fisheromen

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    Just because a business makes money does not give somebody else the right to steal it. Yeah, the Government has been playing Robin Hood for a long time... so we are used to it.
     
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  20. Werfless

    Werfless The Coach
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    Don't you mean Sheriff of Nottingham?
     
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