Money for nothing: is universal basic income about to transform society?

https://www.theguardian.com/society/article/2024/jul/14/money-for-nothing-is-universal-basic-income-about-to-transform-society

by lurker_bee

15 comments

  1. No it’s not. People can quit pretending it’s going to happen.

  2. If real universal basic income (I’m defining “real” as UBI given to everyone without a means test) is tried, I don’t see it lasting past 3 generations, or more realistically I don’t see the nation that implements it lasting past 3 generations. This is assuming that cash infusions aren’t immediately negated by inflation.

    Generation 0: mixed outcomes here. A loss of low income jobs will pressure the economy as low income workers cut back on hours and engage in more quality of life activities. Some high income workers will cut back, but I foresee most high income workers stay working with a few marginal cases of people giving up jobs for artistic endeavors.

    Generation 1: first generation to grow up with UBI, a large change in university enrollment and in choices of majors. High intensity degrees will lose enrollment as easier majors are taken or college is avoided all together. [This assumption comes from the idea of people not walking on moving sidewalks, the cost or not walking is reduced because there is guaranteed movement.]

    Generation 2: with the loss in productivity from the change to Generation 1, taxes will have to increase for those who are working, which will decrease the benefit of high income jobs and make lower income jobs more appealing.

    Generation 3: the problem only gets worse as it is a vicious cycle. Eventually, a state cannot survive so few high income workers paying for low income UBI payments. The whole system collapses.

  3. Requiring people to suffer unrewarding jobs the best hours and years of their lives to merely exist and constantly worry about the uncertainty of their financial future until death is probably why there is so much meanness in this cuntry. Being lifted from the misery might inspire some quality work and friendliness.

  4. Can’t wait to give more people my money……..

    I work my butt off to earn it…. just to give it away to others who don’t want to work….

  5. We’ve only become more hyper capitalist, I don’t see this happening lol.

  6. Hopefully it doesn’t because I don’t want to deal with increased inflation. Crazy how people saw that printing money led to massive inflation and they think giving everyone money every month forever isn’t going to cause issues.

  7. It’s not “money for nothing”. We all pay taxes. The rich pay little (the wealthy) to none. We all pay taxes, but we cannot get paid family leave or universal healthcare. And when billion dollar companies pay their workers low wages, we subsidize their wages when they apply for food stamps and healthcare assistance.

    Tax money should start actually helping people who pay, rather than subsidizing the wealthy. This is not complicated, folks–you tax the rich, you lower inflation. Instead, we’ve given billions in tax cuts and PPP loans to these people. How’s that working out?

  9. No. Remember the tantrums over fast food workers getting a raise. For working! Now imagine people getting paid for not working. There would be mass shockrage.

  10. Absolutely…we are due an evolution…

    Same whining happened when education for everyone was proposed….but…but…everyone learning to read and write…the scandal..oh..radicalized democracy…🤔

    Universal basic income and health care plans are a must…

  11. Not for a decade or two. Will need a serious depression & the government having to implement one (not choosing to) before most of us will be anywhere near one in our lifetimes

  13. Oh yes, think of how entitled and lazy a large portion of the population has become since Covid.

    It’ll transform society alright. Just for the worse.

    People without purpose go on to do things that make no sense, like trying to execute someone running for office.

  14. What does the evidence say? IIRC, and as the article has given examples of, it’s been tried and tested in some areas but they are limited. Then again, every area is unique.

    we need more data I guess

  15. What a world we live in. We bring in millions of immigrants for cooks, housekeeping, construction, etc. We can’t properly staff police, the military, truck drivers, etc.

    Yet, 20-year-olds on the internet: “We totally need welfare for everyone because there are no more jobs. Evil corporations cut all of the cushy tech and professional positions they added in the free-for-all after the pandemic.”

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