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Living Income Guaranteed
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A Life Worth Living - Guaranteed
A Life Worth Living - Guaranteed

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Welcoming New Life with Living Income Guaranteed
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"You can imagine how these bubbles can create economic disasters – because in the end, economics is about sustaining lives. When you don’t know whether the ground you’re walking on is real or could collapse any moment, you’re working with instability and uncertainty, which at the moment are two words that are embedded in our economic system, partly due to the nature of these speculative bubbles.
To give you an idea of the far-reaching consequences these bubbles can have, just think of the recent financial crisis. "

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"Recently the movie San Andreas came out bringing in a whopping $54.8 million in its first weekend. So, people flocked to the theaters to be scared, freaked out about a disaster that could/can happen, that was sensationalized by Hollywood with a huge profit for the movie industry moguls. While here in California where Hollywood is located, we are in the worst drought in 1200 years, which is greatly impacting the $43 billion agricultural industry, which is representative in California being the 6th largest economy in the world, where wells have run dry, farms have closed, workers are out of a job and it does not stop there."

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"Here we can also highlight another dimension that plays a role in deciding what to spend your money on – which is: time. Objectively – we know that if we don’t plan ahead to ensure we have enough funds to cover our needs – be it certain or uncertain ones (for instance, having savings for unexpected medical emergencies) – we will come to a point in time where we will not have enough and be in trouble. Yet – subjectively – short-term gratification can override long-term satisfaction – where we will be willing to ‘risk’ not having enough funds later on, to be able to indulge in a satisfying a want in the present moment. "

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"For most of us – our needs are ‘boring’. Fulfilling our needs forms part of the basic support that we have and give ourselves, but they don’t give us a ‘thrill’, they don’t make us ‘ecstatic’, they don’t even get us excited. A need is not something you ‘feel’ on an energetic level – they don’t make themselves known through a rush. Rather – a need will make itself known through physical discomfort: hunger shows you a need for food, painful feet shows you a need for new shoes, the discomfort of taking showers in ice cold water shows us the need to pay our electricity bill. Needs make themselves known through ‘negative’ physical experiences."

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"With more and more baby boomers reaching and surpassing retirement, there is a glut on the agencies that have been set up to provide for them. And to add to this, these agencies have been faced with drastic funding reductions, which is having dire consequences on the senior population. What is the solution?"

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In fact, it’s more than doable. Economists Robert Pollin and Jeannette Wicks-Lim came to this conclusion by calculating the effects of raising the minimum wage to $15 an hour — that’s far higher than what the president and congressional Democrats have proposed, and is more on par with rates paid in the other Washington.

#DoubleMinimumWage #LivingIncomeGuaranteed

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"Using pollution taxes to aid in funding a basic income is in my view not a solution. On the one hand, if the pollution tax is ineffective, loopholes will be found to avoid paying the tax as is happening today and pollution will not effectively be reduced. Then pollution taxes become a license to pollute and we are in fact requiring companies and individuals to be willing to pollute and ‘pay the license’ to assist in funding the basic income. On the other hand, if the pollution tax is effective in that it is an actual deterrent for pollution – then we would see a gradual decline in pollution and less and less tax revenue from pollution tax, so then it would not be a sustainable revenue stream."

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When it comes to income taxes and resentment, consider the current state of the welfare state – the complicated rules, the intricate web of conditions to qualify – the conditions set to ensure a person ‘deserves’ the support given. This complexity didn’t come falling out of the sky – it exists because people demanded it to be so. Although the ideas of unconditionally giving money to everyone and of giving up a part of one’s income to realize such a situation are noble ones – it’s worth asking the question if we as a society live up to that nobility. Herein a follow-up question could be: and if we do provide an unconditional basic income funded through income taxes – what is to say we will not end up right where we started, with ever increasing demands placed on those who do not ‘contribute’ to society in the conventional way of taking up employment and in one way or another being part of the national economy?
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In my previous post I shared an article by Belgian economist Paul De Grauwe who came to the conclusion that a basic income would only work if it were limited by giving it to those who need it, rather than providing it to everyone unconditionally.The article raised some eyebrows, but more importantly, generated cool discussion. The universal basic income concept is only one of the many basic income ideas that are suggested, discussed and promoted...
- See more at: http://economistjourneytolife.blogspot.com/#sthash.0FfoVlMD.dpuf
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