Fireblossom wrote:
Texasmoneyman300 wrote:
I am open to a UBI possibly if it replaced all welfare and social programs like Milton Friedman proposed.I would want to make sure it allowed for an incentive to work.However all the money printing needed would make inflation go through the roof.
How about an UBI that doesn't involve giving money directly to the poor, but would be done by giving people the necessary food, roof over their head and medical care
directly. Would that kind of system work? I mean, at the very least it'd keep the poor people from using their money meant for basic needs on entertainment and then complaining that the money isn't enough for the basics.
Maybe but i would be fine with giving them money because it would help create jobs for other people but they could not use it on any frivious things.They would only have to live the most basic of lifestyles.But I would only be for UBI if it eliminated the welfare system totally and replaced the social safety net.I think it would reduce bureacury and waste.
I am just afraid all the money printing that would be needed would cause another round of stagflation and double digit inflation eventually.They would also have to volunteer 40 hours a week if they wanted to qualify for the UBI program and work internships possibly.I would also make compound interest a part of the middle school and high school curriculum so they could turn what little money they can save while they are young into a lot.I think a better solution than UBI would be to let Wall Street put the social secuiry money in the stock market.I also think a good way to combat poverty would be to have every child in the country be mandated to invest a sum of money every week or month into the stock market in mutual funds or ETFs or index funds.Also, maybe each child could get a thousand dollar grant at birth that would be put into a mutual or index fund and they would get it at retirement.I think that would help poverty more than UBI.Also i think each company should possibly have a tax free retirement plan that the employeer would contribute money.The workers would be fully invested in their funds at 70 or 80.Part of the UBI would be sent to the stock market to eventually get them off of it.
Last edited by Texasmoneyman300 on 28 Aug 2021, 8:00 am, edited 2 times in total.