There will be a prolonged economic crisis after COVID-19, particularly for the groups who are oftentimes most impacted by downturns in the economy: people of color, women of color, etcetera. So I would argue that $2,000 a month during a pandemic is a great step, but it's time to really think about a social safety net and understand that we live in a time of pandemics. If it's not an illness, there's an earthquake. If it's not an earthquake, there's a fire. These happen yearly, so we need to make sure that folks have the tools they need to build a great foundation. I feel a guaranteed income is an important part of that solution.
Showing posts with label universal basic income. Show all posts
Showing posts with label universal basic income. Show all posts
Wednesday, May 13, 2020
Mayor Tubbs is with me...
He has this to say about Kamala Harris's idea of $2,000 per month to every American for the duration of the coronavirus crisis:
Tuesday, May 12, 2020
UBI: Just do it. Now.
Andrew Yang had the worst timing. Or rather, the coronavirus had the worst timing, from the perspective of the Yang campaign. The UBI is really the simplest and best solution to so many of our problems, not the least of which is the coronavirus and its economic fallout.
U.S. net national product per person is on the order of $50,000 per year. Yang's UBI proposal was $1000 per month. How's about we double it? Everyone receives about $25,000 per year, plus somewhat less than half of what they earn, on average, taxed progressively to support the UBI and a few other key government functions. Kids get half the adult UBI, some of it going to their parents to pay for cheetos and video games, and some to a fund for their use upon adulthood, to help with paying for college, starting a business, or throwing parties for their friends (on zoom of course).
Some people, economists among them, assert that the UBI will have big work disincentive effects and reduce national income a lot. But really, will you or anyone you know settle for your 25K? Nah, you'll be bored and want to get a decent job, and work toward those nice dinners out, vacations, and maybe a Tesla in the garage. Yeah, the garage... in your house. Mortgage.
I'm happy that Nancy Pelosi is on board for another $3 trillion in emergency spending, but how about we just make the big move once and for all? I bet if Trump went for it right now, he'd be re-elected in a landslide. Nancy, Andrew: time for that chat with Donald. Let's get it done.
U.S. net national product per person is on the order of $50,000 per year. Yang's UBI proposal was $1000 per month. How's about we double it? Everyone receives about $25,000 per year, plus somewhat less than half of what they earn, on average, taxed progressively to support the UBI and a few other key government functions. Kids get half the adult UBI, some of it going to their parents to pay for cheetos and video games, and some to a fund for their use upon adulthood, to help with paying for college, starting a business, or throwing parties for their friends (on zoom of course).
Some people, economists among them, assert that the UBI will have big work disincentive effects and reduce national income a lot. But really, will you or anyone you know settle for your 25K? Nah, you'll be bored and want to get a decent job, and work toward those nice dinners out, vacations, and maybe a Tesla in the garage. Yeah, the garage... in your house. Mortgage.
I'm happy that Nancy Pelosi is on board for another $3 trillion in emergency spending, but how about we just make the big move once and for all? I bet if Trump went for it right now, he'd be re-elected in a landslide. Nancy, Andrew: time for that chat with Donald. Let's get it done.
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