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Wales to test universal basic income

Smart Finance

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Well this looks like it could be intresting in theory but I would hate to see the taxes imposed also.

I guess such comes from trying to lift poverty to an extent.


I follow Mises Institute and they aren't very keen on such an idea.

 

The Dividend Experiment

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I read Andrew Yang's book shortly before he ran for president in the US, the idea seemed compelling but it doesn't work as a standalone idea and needed the supporting policies for it to stand a chance of being successful. I will have to look into this system they want to implement in Wales. Might be nice to have a Welsh farmhouse and live off dividends, online income and UBI haha
 

Smart Finance

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Just an update on this. The amount they are using is approx £230pw. Would do me that.
Nice! Do you have a link to it? £230/week is decent tbh as would cover most my bills atm. I wonder what kind of taxes they would increase and create to cover such a plan.
 

23rdian

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Nice! Do you have a link to it? £230/week is decent tbh as would cover most my bills atm. I wonder what kind of taxes they would increase and create to cover such a plan.
I don't I'm afraid. It was covered in a YouTube video and I dont remember which but if I find anymore info will post it. I would love it though along with other income :)
 
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Smart Finance

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I don't I'm afraid. It was covered in a YouTube video and I dont remember which but if I find anymore info will post it. I would love it though along with other income :)
Might go on a gander and see if I can find any more news about it also. It would definitely be nice with no strings attached 😂 I think even such a sum to cover half expenses to try and push people to work with bonus amounts if disabled and stuff would be intresting.
 

RealisticOption

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People might think this scheme is good for them, but in the long run it's quite detrimental. Instead of giving fish to everyone it would be better if you teach them to fish. Government doesn't get any free money, all the money collected is from tax and by utilization of natural resources and so on. This money should be invested in creating new jobs, improving infrastructure and to provide education. If a considerable amount of money is spent on providing free money to people, it would demoralize them to work and they would become lazy. This scheme doesn't increase any productivity or doesn't solve any problems only just covers it up for a short time till it falls apart.
A good suggestion to this would be to give One time Small Credit to individual to utilize in the period when they lost a job that has to be paid back in installments after they get a job with low or no interest, this would improve the capital and would in-turn help others in the future.