RE: My thoughts on a Universal Income.

You are viewing a single comment's thread from:

My thoughts on a Universal Income.

Somewhat agree but even if it's there that still doesn't answer my question of where it will come from. I have little to no faith in our politicians but in order to fund a UBI, the books would need to be rebalanced and if it came, at say, by doubling the income tax I most certainly wouldn't be for it. However, if it was achieved by forcing multi-national corporations to pay their fair share of tax, yes apple I am looking at you (only paying 1% in Australia), then sure I am all for it.

However what I see in most countries now is a massive shortfall, just look at the US debt, it's staggering to the point that some commentators are claiming it's not far away from a collapse. IIn order for UBI to be initiated, it would take a YUGE shift in how the US operates and spends it's money... YUGE!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Absolutely agree. That's essential that the U.S. government does massive audits. I think that public apathy breeds a political climate that encourages actions that produce politically expedient results that waste enormous amounts of money. I think this is widely found from both parties in the U.S. Government - the military industrial complex, lack of cost controls in the U.S. healthcare system to appease pharmaceutical corporate lobbyists, etc. On the local level in NY state for example, the NYC subway has been lead to financial ruin due to the transfer of transit allocated funds for other politically expedient uses. Common people need to participate in government in at least small ways (voting is a good start), in order for good (let alone efficient) government to exist.


To try and answer the question of where the money comes from though - taxation coupled with attempts to controls costs, and efficiency of government process and allocation. Especially for the U.S., we are talking about slashing taxes during a moment when we are so deeply entrenched in global military operations that it is staggering. I believe during the 1940's through the 1960's the U.S. taxed income over $3 Million at 94%. That was a time of incredible growth. Considering how much the U.S. has in debt, let alone the fact we are in perpetual war time, it seems astoundingly irresponsible that we do not have Post WW2 type taxation in place. Such a taxation scheme would ideally be in place to help fund the ideal social services that are usually discussed, including UBI, but it is essential that costs are controlled - the healthcare industry is exhibit A of this. The housing sector is the next obvious place to consider because it is the most obvious fundamental expense that UBI would be used for.