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upaloopa

(11,417 posts)
1. Did you include the source of the funding?
Wed Dec 10, 2014, 03:58 PM
Dec 2014

I think if we are going to continue to have low wage jobs and structural unemployment then we are going to have to have a new model since our economy is based on consumer spending.
But if we are to promote a guaranteed income that is only half of an idea. That is the easy part . The hard part is coming up with the source if revenue to fund it. What is that source and is it included in your proposal?

kelly1mm

(5,099 posts)
2. Import taffifs on goods from low wage countries. Unfortunately, if a serious proposal,
Wed Dec 10, 2014, 04:07 PM
Dec 2014

that would not nearly cover the $3000 per month monthly payments for non-millionaires (not to mention, how do you define millionaire?)

kelly1mm

(5,099 posts)
6. I assume per person in a joint return? If so, you are taliking about less than 300,000 people
Wed Dec 10, 2014, 05:29 PM
Dec 2014

total in the US who would not qualify. (435,000 if your plan has a 'marriage penalty').


330,000,000 Americans
- 435,000 Millionaires

= 329,565,000 monthly checks of $3000 each

= 989 BILLION per month
= 11.5 TRILLION per year

Total US GDP is about 14 Trillion per year.

See any problems yet?

kelly1mm

(5,099 posts)
8. 76% of US population is over 18. So, we went from 11.5 Trillion to almost 9 Trillion
Wed Dec 10, 2014, 05:41 PM
Dec 2014

per year out of 14 Trillion GDP.

So, you want to pay for this with import tariffs. in 2013, the US imported 2.7 Trillion in goods (from all countries, not just low wage countries, but I am just trying to prove a point)

So, to generate 9 Trillion on 2.7 Trillion of imports we need a 350% tariff.

See a problem with that?

Vincardog

(20,234 posts)
9. OK 18+ and last years income < $200,000
Wed Dec 10, 2014, 05:43 PM
Dec 2014

If we need more money tax everyone making more than $200K for the difference

kelly1mm

(5,099 posts)
10. $200,000 plus (per person) is less than 2 milion people. That changes it to needing 8.6 Trillion
Wed Dec 10, 2014, 05:52 PM
Dec 2014

total per year and your tax rate on all imports can go down to 310%.

bottom line is that $3000 per month is WAY too much. Most Basic Income schemes put the GIG at about 10k per person.

That and you need to expand your tax sources.

There is lots of literature on BIG on the net. You are not the first to think of this.

Good thoughts though - eventually we will need to do something.......

kelly1mm

(5,099 posts)
13. Of course I clicked the link. That is how I found out your funding source and amount. No
Wed Dec 10, 2014, 06:04 PM
Dec 2014


I did not vote for it as:

1) way too high
2) way to narrow a base for taxes to pay for it

In theory, I support BIG. The devil is in the details .....

Response to Vincardog (Original post)

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