Machines/technology are increasingly pushing out people from the workforce-- even skilled white collar jobs like doctors & bankers. What happens when most human work becomes irrelevant? How will people earn money to spend to keep an economy functioning?
Some countries are studying the idea of Universal Guaranteed Income. Economists used to completely poo-poo the idea, but now many well-respected ones are taking a more open minded view…
I read the Murray article as well. Romani, are you saying that - if the universal guaranteed income comes with a dismantling of Soc Sec, Medicare / Medicaid, etc?
Crazy
That’s nowhere near high enough to make up for losing SS and Medicare for those of us who have paid into them for decades, and yet not nearly high enough for poor people to be lifted out of poverty.
You would take SSI from disabled people to give it to the able-bodied? Eliminate all safety nets for $10,000 per year? What family in distress can live on that?
And as far as getting rid of “corporate welfare” - that’s going to be so easy…
Ducking, since early posters seem to get all the flack…
Well, I keep it old school to delay machines as much as possible. I write checks and mail my bills, I go to the bank and deposit my check, I get a newspaper delivered, I don’t use easy pass, I go to an actual cashier at the grocery, go to the bookstore and buy a book etc.
New and different jobs are replacing old jobs and I suppose that will always happen. Maybe we will all be machine supervisors and get paid to watch them work.keep them on their toes…or whatever…I could be a machine psychologist and help them with their breakdowns
Hey I’m all for getting rid of corporate welfare, but let’s give money to the young by taking it away from the elderly, the disabled, people who need food assistance, and the extremely poor? Uh… no doubt the young and healthy will be all for it, but it doesn’t seem like a worthy trade off to me.
I think the elderly need their social security and Medicaid (that they funded their entire working lives) more than the able bodied young need a handout.
Of course, Social Security and Medicare are programs where:
The current working generation pays for the benefits of the current retiree generation.
Each generation receives more in benefits than it previously paid in payroll taxes.
The future looks like hard choices will have to be made, probably generational battle lines being drawn in the political arena (i.e. increase taxes on the working generation, or cut benefits for the retiree generation).
Seeing as most people don’t want to take care of their parents health needs and let them move in until they die, it’s to everyone’s benefit to keep social security and Medicare.
why isnt a compromise between UGI and the current system even being talked about or offered?
paying a BELOW poverty level UGI to all , when EVERYONE wont need it, wont solve the problem of too little money being sent to those who most need it.
where is the discussion in this country of readjustment of SS entitlements and distributions?
I can’t see ANY justifiable reason that those who have separate income,and assets at retirement, that will give them income above $300,000/ year -why should they ALSO receive SS benefits??
The SS system was not set up to help those with the greatest assets,[ who dont need additional $$ to live even more comfortably, ] get even more $$ from taxpayers.
It was set up to take care of those with the fewest assets, when they reach the age where they can no longer work or support themselves.
If you means-test SS, then what distinguishes it from plain ole Welfare? It’s bad enough that dual-earning couples pay double into the system, compared to couples w a SAH spouse.
Switzerland just had a referendum on a basic income. It failed, in part because the Swiss did not want to make the country more attractive to economic migrants.
Basic income (i.e. check because you are breathing) will only increase inflation; it will not solve the problem of economic insecurity. Remember, there are always a certain (not insignificant) number of people who can’t take care of themselves or make rational decisions about money even if they are given “enough,” and whose families can’t/won’t deal with them anymore. We’ll always need the government social programs to deal with them. Basic income is not a substitute for the safety net.
Changing universal benefits such as SS to a means-tested system would result in the collapse of widespread political support for these programs. It also creates a perverse incentive not to save for old age if you feel you will be penalized for doing so.
Put “free” in front of anything and people will rally behind it no matter how completely idiotic it might be. Free education, free housing, free phones, free healthcare, free money! Free free free! I’m a grumpy old man–what the hell has happened to this country.
