Category: Basic Income

Green Party calls for “system shift” in approach to workers’ rights on day of McDonald’s strikes

Green Party calls for

The Green Party says political parties must stop "tinkering around the edges" of the economy on the day that workers at two branches of McDonald’s go on strike .

The party has called for a " system shift " to make the 21st century economy " work for us ". They argue that strikes like those carried out today by McDonald’s workers are part of a wider movement against the economic system and that government proposals outlined so far to help workers in the gig economy do not go far enough . They say more far-reachig reforms are needed including […]

3 Ways to Get Around RMDs

3 Ways to Get Around RMDs

Required minimum distributions are many a retiree’s bugaboo. RMDs force retirees to withdraw a certain amount of money from their tax-deferred retirement savings accounts, whether they need that much money or not, often generating high income taxes for the year. Luckily, there are a few ways to minimize your RMDs — or even get around them entirely.

Tax-deferred retirement savings accounts, such as traditional IRAs, allow you to contribute money tax-free, but they require you to pay taxes on the money you take out of the account. Without RMDs, a retiree could just leave the money in the account forever, […]

Universal Basic Income In U.S. Could Lead to Economic Growth

Universal Basic Income In U.S. Could Lead to Economic Growth

A team of economists from the left-leaning Roosevelt Institute conclude in a new research study that implementing a guaranteed income of $1,000 a month for all Americans would accelerate U.S. economic growth by an additional 12.56% over eight years if it were financed by increased federal debt.

If the same program were financed by increased redistributive taxes, the growth impact would be smaller, producing an additional 2.62% of GDP growth over 8 years. But the federal deficit would also, according to the model, shrink by 1.39%. In both scenarios, unemployment would also decrease.

A universal basic income, or UBI, is a […]

Universal Basic Income Could Grow the U.S. Economy by an Extra 12.5%

Universal Basic Income Could Grow the U.S. Economy by an Extra 12.5%

A team of economists from the left-leaning Roosevelt Institute conclude in a new research study that implementing a guaranteed income of $1,000 a month for all Americans would accelerate U.S. economic growth by an additional 12.56% over eight years if it were financed by increased federal debt.

If the same program were financed by increased redistributive taxes, the growth impact would be smaller, producing an additional 2.62% of GDP growth over 8 years. But the federal deficit would also, according to the model, shrink by 1.39%. In both scenarios, unemployment would also decrease.

A universal basic income, or UBI, is a […]

True Universal Basic Income Is a Must as Robots Will Replace 40 Percent of All Labor Force in the US by 2030

True Universal Basic Income Is a Must as Robots Will Replace 40 Percent of All Labor Force in the US by 2030

I am very much in favor of Basic Income myself but I think there is too much hard-on for automation in B.I. supporters. I think this weakens Basic Income argument for people who are new to this idea, because this is not very convincing. Besides driverless vehicles which will certainly displace a lof of jobs soon?

I get the feeling that a lot of B.I. supporters don’t understand how computers work (same as your average citizen). They don’t understand what a program is, so how can they even understand the basics of AI? They hear about computers beating the top […]

Guarantee every American a basic income? The U.S. can’t afford it

Guarantee every American a basic income? The U.S. can’t afford it

Concerns have been raised about the technological revolution now underway, particularly the potential for jobs to be replaced by automation. We now have robots in warehouses and factories, self-checkout cashier stations in stores and ordering kiosks in fast-food restaurants.

Some tech luminaries are predicting this will lead to massive layoffs, and they want government to provide a universal basic income as compensation.

Silicon Valley billionaires have become the most vocal proponents of a universal basic income. Elon Musk, founder of Space X and Tesla, predicts millions of workers will be replaced by automation in the next 30 years. “I think we’ll […]

Jordan Peterson on Universal Basic Income – Joe Rogan

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Magazine Australian Options features section on basic income

Magazine Australian Options features section on basic income

The Autumn 2017 issue of the left-wing political magazine Australian Options includes a special “viewpoints” section dedicated to basic income.

The issue can be read in full here .

The section on basic income consists of three short articles: > “Basic income: An idea whose time has come?” by Troy Henderson (PhD Candidate in Political Economy at the University of Sydney) “Basic income: Political economic considerations” by Frank Stilwell (Professor Emeritus in Political Economy at the University of Sydney) “Basic income or job guarantee: What is to be done?” by Neale Towart (Unions New South Wales). Henderson provides an overview […]

Study: $1000 universal basic income per month would grow the economy by $2.5 trillion

Study: $1000 universal basic income per month would grow the economy by $2.5 trillion

Roosevelt Institute suggests that a $1000/month income could prosper our economy by $2.5 trillion.

A study published by the Roosevelt Institute suggests that if every adult receives $1000 per month, the economy could grow by 12.56%, equivalent to $2.5 trillion, by 2025.

Co-authors of the study, Roosevelt research director Marshall Steinbaum, Michalis Nikiforos, and Gennaro Zezza suggest three proposals: a full basic income where every adult receives $1000/month, a partial basic income where adults get $500/month, and a child allowance where parents are entitled to receive $250/month. What is Free Basic Income? Researchers postulate that a more significant benefit to the […]