A $1,000 per month cash handout would grow the economy by $2.5 trillion, new study says

CNBC ^ | 02 September 2017 | Catherine Clifford

[blueplum]

Giving every adult in the United States a $1000 cash handout per month would grow the economy by $2.5 trillion by 2025, according to a new study on universal basic income.

The report was released in August by the left-leaning Roosevelt Institute. Roosevelt research director Marshall Steinbaum, Michalis Nikiforos at Bard College's Levy Institute, and Gennaro Zezza at the University of Cassino and Southern Lazio in Italy co-authored the study.

[snip] These estimates are based on a universal basic income paid for by increasing the federal deficit. As part of the study, the researchers also calculated the effect to the economy of paying for the cash handouts by increasing taxes. In that case, there were would be no net benefit ...

[goldstategop]

If we replace welfare and all means-tested programs with UBI, we would come out ahead.

The politicians would never do it. And that cuts bureaucrats out of the loop.

For different reasons, its anathema to nearly every one.

[Bob434]

[[By my calculation, it would take just a hair under $3 trillion per year in deficit spending to obtain the promised eventual $2.5 trillion per year in increased GDP. Brilliant]]

Yes but if you ,ultiply it by 30-40-50 years you make it up in bulk— oh wait

[kaehurowing]

If you pull 10,000 gallons of water out of one side of the swimming pool and pour it in the other, the water level will of course stay the same. But these guys will claim you increased the volume of the pool by 10,000 gallons.

[Scram1]

Great. Use that to fund an official nanny state robot for designated individuals.

[SaveFerris]

Well, the one in the center is kinda fun to look at anyways.

;)

[goldstategop]

And we all know the Left is never going to get rid of welfare and the Right is never going to get rid of the strings that come along with it.

That means giving up control over people. The real problem is less money than human nature.

So there.

[Sparticus]

A free $1000 a month per snowflake would cause am explosion in the number of junkies and beer and pot sales would be through the roof. Women and children hardest hit.

[wideminded]

I think a universal basic income will eventually be necessary as technological advances take away massive numbers of jobs. But I wonder about the inflationary effect of distributing money so widely. It seems like a universal basic income could still lead to universal poverty, no matter where it was set.

If essentially all jobs are automated, people could still make money from things they own or from businesses that use technology, but these things will never be distributed enough to feed the mass of people.

[ETL]

[Fresh Wind]

The only item required to successfully implement this scheme is a perpetual motion machine...

Only if you use it to drive the printing presses at the money factory.

[txnativegop]

Indulge me one such payment so that I can get the S&W Performance Center 357 wheel gun I want.

LOL

[jiggyboy]

Three Hundred Big Boys

Everyone on Earth gets $300 after the spoils of a military victory are distributed. The members of the Planet Express staff spend it on different things, with varying degrees of success.

[Bullish]

Crackpots, we’re surrounded by crackpots with evil ideas. We’re already operating a sure to fail Ponzi scheme and these idiots just want to accelerate our demise.

[Viking2002]

No, I think it's a great idea. I want all the tens of billions of dollars that we've had sucked out of the fruits of our labors to prop up the lame, lazy, indigent, parasitic, and interloping sub-class of humanity to be redirected into the hands of those who earned it and have invested it into their personal and national future. The crack whores, welfare queens, border baby brood mares, and sundry other cockroaches can rely on the good graces of church programs and other non-profit charities, assuming they can pass muster with the DHS and Border Patrol. I, for one, am tired of my wallet and my ass bleeding because these impotent bureaucratic careerists couldn't grow an ethic if you gave them the seeds and a windowsill starter kit.

[WMarshal]

Gibsmedat!

[Bullish]

Instead of increasing the deficit and giving handouts, why not just cut taxes and let people keep more of their money?

Because they really just want to hand out money for crack to those who refuse to work.

[goldstategop]

UBI is designed to provide an income floor.

Unlike welfare, where you get a fixed sum of money each month and are penalized if you earn more - under UBI you can make as much as you want and invest it, spend or save it.

I personally favor replacing welfare with UBI for that reason.

Then again, you’d ask bureaucrats to give up control. I don’t think it will get anywhere because they won’t.

[ETL]

[WMarshal]

Is you handle “wideminded” or “wine-minded”. I will bet you are a fan of the slogan “Sí se puede!”

LOL. Free money is just the same as no money over time.

[SaveFerris]

Now all we have to do is hook it up to a generator and free electricity! Woohoo!