The problems with basic income and job guarantees

First the problems with basic income. Unless you only give this basic income to the extreme poor. This will just make the wealth gap even wider. Even MMT professor Kelton  talked about this problem. ” The poor will buy apples and the middle class will buy apple stock .

In the same speech she talked about the idea of the job guarantee . The problem with guarantee is that there demand for the ” job” as well has it has to be productive . When they ” job” they don’t really mean it the tradition sense if being a productive. She used examples the people are now volunteering to do now.

13 thoughts on “The problems with basic income and job guarantees

  • February 18, 2017 at 19:29
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    Basic income should not be given to people who make wages above the poverty level. Of course that would increase the income gap. People who have income, but are below the income gap should only get enough to make it past poverty wages.

    I don’t see why the things some volunteer for now can’t used for the job guarantee program. If it is useful and productive it is deemed to be a job by your definition. The same type of program could be used to help the future as well. There could be groups within the city that do this volunteer work that could be used for local college money.

    Neither one of these plans are perfect when they meet they eye as is. There has to be changed and clauses made to make sure people do not take advantage of the programs. I think that is possible, but it’s not likely to happens because the rich control law and policy and they are not passing anything that doesn’t make them money. This may have to be something that a person in the private sector is willing to invest in to make better for themselves while helping out others.

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  • February 22, 2017 at 11:26
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    Thing about basic income is its just seems to feed into the status quo of consumerism . Also the most recent country to start it was India. About a month ago they have everyone turn in there cash. A basic income would likely lead to a ban on cash. If cash was banned they the government would basically be controlling peoples spending.

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  • February 23, 2017 at 15:06
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    Are you saying that the money won’t be used for need, and will be used for wants?

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    • March 1, 2017 at 11:32
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      Well just look at food stamps people are buying soda and sports drinks when water is free and or very cheap. That is an example of needs vs wants.

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  • February 23, 2017 at 20:37
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    Do you know what those countries did with their debt? In remember having a conversation with you in relation to this and you said that the people who mostly use their money to pay off debt.

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    • March 1, 2017 at 11:35
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      In most cases debt is in the form of another currency . This is where the problem comes in. Now lets say I loaned you out 10 bitcoin and you were to pay it back in 10 years. If the price of bitcoin were to increase to say 10k . The these means you would owe 10 times as much. This is often the cause of hyperinflation.

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      • March 5, 2017 at 08:51
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        A person who receives basic income will never be able to pay their debt back and live with the money allotted. Further more if the make enough to pay it back the wealth gap is still increases because the return of debt goes to rich people. It would be worse than the system is now people over the poverty line received basic income and returned debts. That is why I am trying to figure out what they do with the debt.

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        • March 8, 2017 at 19:03
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          the problem isn’t paying it back it . The problem is paying even just some of it down. Debt is how money is created so paying off debt is deflationary aka falling prices . As far as what you said about the rich. The rich use debt to become richer by using it to buy assets or businesses or real estate , etc,

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  • March 11, 2017 at 13:53
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    I understand what you are saying. I would like to know if you know what happened to debt in the countries that have started using basic income? I believe if the debt stays existent then the point of the income diminishes.

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    • March 12, 2017 at 11:11
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      India started doing it and they recently had a currency crisis . They are also trying to ban cash.

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      • March 12, 2017 at 12:18
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        India started to get rid of all debt owed???

        Once again, I do not support a cash ban. I support basic income for those who can’t afford it, but I don’t think that money should go to debt. It is hard to blend everyone’s concept into one policy, but it could happen with communication, compassion, and compromise.

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        • March 14, 2017 at 12:35
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          I think the better ideas would be things like having people work on urban farms and have their labor be payment for the food from the farm. This would give people a better sense of community .

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