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posted by
martyb
on Thursday June 02 2016, @08:52AM
from the What-would-YOU-do-with-a-basic-income? dept.
from the What-would-YOU-do-with-a-basic-income? dept.
The highly-anticipated experiment with basic income from Silicon Valley finance firm Y Combinator appears to be making good progress. The company has chosen Elizabeth Rhodes as the project's Research Director, opting for the little-known PHD graduate over applications from tenured professors working at Oxford and Harvard universities. Oakland, California is where the basic income research will happen: the community has been chosen for its close proximity to Y Combinator's head office, and the much-reported wealth divide in the locality.
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The Basic Income Experiment by Y Combinator Draws Nearer
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(Score: 1) by khallow on Friday June 03 2016, @01:55AM
Basic Income differs from welfare in that it is not clawed back if you decide to start working.
Only if you do not understand that money if fungible.
What do I mean by that? Lets say your basic income level is 20k. Hey not bad right?
Well now you are willing to work for less 20k less to be exact. So now you are more competitive right? Well not really. As guess who is paying for that 20k. The employer. Also everyone else is doing the exact same thing.
I notice that you agree ("now you are willing to work for less"). Money being fungible doesn't change that there is more incentive to work than under a traditional welfare system which cuts off entitlements when you earn too much.
This is mostly a 'do nothing' other than who signs your check and puts a small select group of people in charge of your money. Creates a even larger bureaucracy for people to jump thru hoops. Under the guise of looking good.
We already had that with the current welfare state. Bleedings hearts gotta bleed. At least a basic income would reduce the opportunities and scope for hoop making.