Topic Of A Day (TOAD)
Topic Of A Day (TOAD)
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UBI (Universal Basic Income)

UBI (Universal Basic Income)

5/12/2019 12:08:56 PM   |   Comments: 1   |   Views: 13
Or, as I like to call it. Universal Bootstrap Initiative. To the best of my knowledge and ability, this information is correct. But politics is an ever changing stream, so investigate it for yourself if you would like to learn more.  

UBI is a policy proposal from 2020 Democratic Presidential candidate Andrew Yang. You can see his full platform here: https://www.yang2020.com/policies/

In a nutshell. Its $1,000 a month from the Federal Government to every citizen with very few strings attached.  In practice it's much much more complex. Let me break it down as concisely  as I can.

0. You have to be a U.S. Citizen of at least 18 years of age if born here, if immigrant, you have to have been a citizen for 18 years to qualify. You must also not currently be serving a prison sentence. (Once the sentence has been served you would qualify)

1. Our current standard deduction is $12,000 a year via Trump's tax "restructuring".

2. The UBI supplants (in stead of) welfare. Meaning if you have $200 in SNAP (Supplemental Nutrition Assistance Program) and no other "welfare" programs you could keep the $200 in SNAP and get $800 in UBI

3. Social security and military benefits would not affect UBI.

4. It would be paid in part by a VAT or Value Added Tax of 10%. This would be just like a 10% national sales tax, but with much more book-work for accountants. It would also allow us to tax companies like Amazon who avoid taxation with loopholes.  VAT is a very complicated beast so I'd suggest researching it more on your own. Here is a very "wonky" (read: nerdy) version. https://www.youtube.com/watch?v=7aywtAJgHsY

5. We would theoretically save some money from people taking better care of themselves rather than relying on emergency services after its too late.

6. We would theoretically save some money from the tax code. The UBI would count as income, so depending on the tax bracket, if you're wealthy enough it would be a minor blip on the radar compared to a potentially life saving inflow of cash for someone trying to survive. For the middle class. It will potentially smooth out the economic class system we have here making it easier to recover from economic hardships. 

7. My personal favorite. It would allow more varied backgrounds of people to serve on Juries. The economic hardship excuse wouldn't apply to those below the poverty line so people could truly have a jury of their peers, as is promised in the United States Constitution, the fundamental document with which we run our country by.

So that sums it up for me. If you have any questions please leave them in the comments and I will continue answering them as time allows.

Question:
What would you do with the UBI, if implemented?
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