cfimages wrote: But the thing is, you wouldn't get that many declaring an interest because most people don't have the talent. Playing to a crowd of no one or getting boos or being told you suck will have the vast majority hanging up the mic very quickly. Society benefits by unearthing more great music and art etc. There's no need to recover the investment because society is not a business.
It would cost $600 billion to fund every American to the tune of, say $20 000 per year (based on a 300 million pop). That's a bit over $1500/month which I figure should be more than enough for the basics to be met. According to Gao bohan's chart earlier, there's already $350 billion of so spent on unemployment / welfare a year so redirecting that and you've funded over half already. Social security would see less demand so the budget for that could be moved over to account for more. Health care costs would fall as less people became ill with stress related issues and poverty-related illnesses. Petty crime, theft etc. would likely drop. If you calculated all the cost savings they'd be most likely to be more than the cost of providing the funding which would actually save the govt money. In a worst case scenario, there are 412 billionaires in the US would could easily pay an extra tax without it having any real or noticeable effect on their fortune.
Dr. McCoy wrote:Like Japan?
Japan had is credit rating lowered. They didn't have massive inflation. They print their own money.
Mr He wrote:Yes, but japanese save their money and buy government bonds for them, or puts them into the postal savings, which accounts for the same.
That keeps inflation down.
Americans spend the money before they get them, that's a difference.
Can the government run out of money? The U.S. government can’t run out of money any more than the Washington Nationals Baseball team stadium can run out of points. Every time a ball game is played at Washington National Stadium, some team scores some points and they appear on the screen and then the other team scores and some more points appear on the screen. And there’s nobody behind the screen going, ‘Hey Johnny, we’re running out of points here’, you know, right? Look in the trust fund. That’s not the way it happens. You just add the points.
There is a relationship between the power the state has in the monetary sphere and the power that it can exert in the political policy sphere. There is no revenue constraint for governments that control the money that sits at the top of the hierarchy. Does that mean that we should spend without limit? No. No. Emphatically no. As the economy recovers, spending will need to be regulated to prevent inflation. But I would argue, and I think what we’re all here to argue today is that it’s time to stop allowing the monetary system to limit our range of policy options. It is causing unnecessary human suffering and it’s time for us to begin to recognize the advantages of a Modern Monetary System. Thank you.
Then ask them if they'd take work at a fast food place or as a janitor. I've done that work in my time and it's was as about as exciting as being unemployedcfimages wrote:Gman, talk to some long term unemployed and most will tell you that it is incredibly boring.
A living wage will not create substantially more people sitting around smoking, drinking and eating junk food.
It's not enough money for that out or any kind of life of leisure and not intended to be. My 20k figure was chosen at random because I don't know the average cost of basic living in the US. 10k may be enough.
As for admin costs, there wouldn't really be any, certainly no more than there is already for various welfare tasks. A social security number linked to a bank account and tax details is all you'd need. There may be a one off setup cost for data entry, but after that an automatic payment each month would only incur the cost of bank fees and server space. When someone dies, the doctor issuing the death certificate simply checks a box on the database to close the file. Same for adding someone new - when filing tax the first time a new entry is created. Simple and not more than a minute work needed.