Reply to post: Re: More socialism utopia BS...

View from a Reg reader: My take on the Basic Income

Toltec

Re: More socialism utopia BS...

That is the problem, how do you make a system more beneficial to work for those that can without penalising those that cannot or rewarding those that will not, while still making it simpler and more efficient? At a fine enough level everyone's circumstances are different and changing, however the complexity of an individually tailored system means more resources go towards the administration than towards the recipients.

Out of interest what would people think is a UBI amount that would work? Around here a room to let starts at about £500 per month so that is £6K before you start buying food and clothing, so £10K? Let's say everyone eligible to vote would receive this so £440 billion required assuming no overheads. According to the ONS http://visual.ons.gov.uk/welfare-spending/ the welfare budget for 2014/15 was £258 billion, of that about £170 billion goes on basic payments not involving additional care. Therefore to be revenue neutral assuming people that needed extra care still got it UBI could be about £3800, enough to buy food and clothes, but not to pay for accommodation.

I'm not an economist so I've probably made a mistake and missed something, if someone better qualified could explain I am open to being educated.

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