Is Basic income a good idea.

[vinty]

Jeremy Corbyns side kick John McDonnell is punting the idea that Labour could introduce a universal basic income for all if Labour win the next election.
I can see McDonnell's logic, if bribing some of the electorate to win some votes works why not bribe all the electorate and win all the votes.
It could be around £100 a week for everyone, which isn't bad, it could help slow down the rate at which pubs are closing down in England.
I might even vote for it myself if eligible.

 

[Notch7]

Its very expensive.

 

[JohnD]

Its very expensive.

What does it cost, in the countries where it's been tried?

 

[vinty]

The Government could save money on other benefits like unemployment and sickness.
If people at the bottom end of society have more money to spend they will spend it locally and help keep others in work unlike the rich who lock their money away in offshore accounts or buy luxury Yachts.
It could be a good way to redistribute the nation's wealth.

 

[EddieM]

The Government could save money on other benefits like unemployment and sickness.
If people at the bottom end of society have more money to spend they will spend it locally and help keep others in work unlike the rich who lock their money away in offshore accounts or buy luxury Yachts.
It could be a good way to redistribute the nation's wealth.

Unemployment benefit & sickness benefit, make up only a very small amount of govt benefits paid out. The vast majority is pensions.

 

[JohnD]

I wonder if notch objects to pensions, on the grounds that

Its very expensive.

 

[SirGalahad]

I would rather they implement LVT and simplify the tax system and shift incentives more towards building new products and services.

 

[Notch7]

What does it cost, in the countries where it's been tried?

'tried'

Its never been tried, so where would you get the figures from?

 

[SirGalahad]

'tried'

Its never been tried, so where would you get the figures from?

Do keep up Notch.

https://www.wired.co.uk/article/finland-universal-basic-income-results-trial-cancelled

 

[HawkEye244]

Until evidence comes to light that shows universal basic income to be a long term sustainable solution to wealth inequality I don't think it should happen here.

 

[JohnD]

Its never been tried, so where would you get the figures from?

so your post was pure fiction.

Its very expensive.

As I thought.

 

[vinty]

Income inequality is a growing problem in Britain, something needs to be done or it could end up like France.

 

[Ihavenojob]

I wonder if notch objects to pensions, on the grounds that

Most people who get a pension would have contributed to it, many on unemployment ,or whatever its called this week, benefits are unlikely to have contributed, and in some cases, their parents may not have contributed. The way things are going there wont be many on a pension, mine keeps changing, its now about 10 years before I get it.

 

[Notch7]

I wonder if notch objects to pensions, on the grounds that

Strawman argument.

 

[JohnD]

No doubt notch will tell us his view, in the fullness of time.