Please follow this link to vote for my Guaranteed Minimum income proposal for the The Big Ideas Proje
http://thinkbig.us/ideas/17345/
[link:http://thinkbig.us/ideas/17345/
Thanks
upaloopa
(11,417 posts)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)that would not nearly cover the $3000 per month monthly payments for non-millionaires (not to mention, how do you define millionaire?)
upaloopa
(11,417 posts)who don't need the money.
Vincardog
(20,234 posts)Vincardog
(20,234 posts)kelly1mm
(5,099 posts)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?
Vincardog
(20,234 posts)kelly1mm
(5,099 posts)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)If we need more money tax everyone making more than $200K for the difference
kelly1mm
(5,099 posts)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.......
Vincardog
(20,234 posts)kelly1mm
(5,099 posts)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)
kelly1mm This message was self-deleted by its author.