Universal Basic Income

[Wildreamz]

Universal Basic Income (UBI) is the idea that governments should hand out a "basic income" to every citizen, regardless of employment status. This is so as not to discourage employment while providing a basic living "wage" to every people, so nobody needs to be poor. Potential benefits include encouraging risky endeavours such as Entrepreneurship, further studies, occupation in less financially rewarding field such as the Arts, literature, social work etc.

Also, this will counter the negative pressure on jobs and wages that globalisation and automation will bring in the coming decade, and bridge the income gap.

Many countries, such as Finland and Canada, have already conducted trials; and the results of their experiments will be revealed soon. Personally I see this as an inevitable trend, and will once again, greatly change the economic landscape.

[BlueKelah]

If they can reduce the tax rate I think would be better than UBI. uBI sounds like another avenue for politicians to give more welfare to get more votes.

Sent from my ZTE A2017G using Tapatalk

[Wildreamz]

When AI takes off, and technology kills more and more jobs (self driving cars and drones kill driver/deliveryman jobs, Amazon Go kills cashier jobs, robots kill warehouse and factory jobs etc.), then government will face the reality of choosing between a large population of unemployed citizens, or UBI.

[TTTI]

When AI takes off, and technology kills more and more jobs (self driving cars and drones kill driver/deliveryman jobs, Amazon Go kills cashier jobs, robots kill warehouse and factory jobs etc.), then government will face the reality of choosing between a large population of unemployed citizens, or UBI.

This doesn't make any sense to me tbh.
Isn't wealth a completely relative concept to begin with?
Isn't affordability relative too?
So if there's this UBI, then UBI becomes the new low. Anyone who ONLY has UBI, becomes the equivalent of an unemployed destitute now, so how does that serve to make ppl feel less poor?
And if there's a UBI, then it simply adds to inflation, and the cost of everything goes up.
Since the new "normal" is an UBI.

Isn't this the equivalent of doling out unemployment benefits that some European countries already have, with negative consequences?

[Wildreamz]

The difference is "Unemployment" Benefit is only given to the unemployed. UBI is given to everyone, so there is no incentive not to work.

It is a fine balance to give out just enough, reminds me of Warren Buffett's famous quote: ''enough money so that they would feel they could do anything, but not so much that they could do nothing."

[Wildreamz]

Also, a related debate also arisen in recent years, in case some fellow buddies are unfamiliar, is the Robot Tax.

In essence, some proponents (eg. Bill Gates, Elon Musk, Stephen Hawkings etc.) have argued that, since Robots (AI, software, self-driving cars, literal robots etc.) are responsible for the loss of jobs, governments should impose a Robot Tax on highly automated industries to counter balance the trend of job displacement.

[brattzz]

why u all have so little faith in humans?
humans created AI, and once AI can take over the industries and the entire earth, let AI do it work, we humans, should start thinking/working on how to colonise other planets already,

The universe is definitely BIG enough for 7.6 billion humans (2017 figures)

Push the boundaries for all mankind sir!!!

I also wish to stay on the moon!

[soros]

The Government should give UBI to everyone over 65 age and let them stop working and retire early and let the robots do the hard work.

[Life is a game]

First they need to make us live forever. Else your dream to stay moon may be quite bleak but not impossible.

Sent from my SM-N9005 using Tapatalk

[Wildreamz]

UBI will happen, trust me (or some other forms of handouts).

I usually quite good at spotting long term trends