Universal Income?

[baggieal]

Spot on. Nothing to do with fiddling. You can't fiddle it because EVERYONE gets its whether you earn nothing or are a high earner! The basic premise is the vast majority would still be ambitious enough to want to earn more. £19k would lift everyone out of poverty. More money would be spent giving the economy a boost.What it does do is take away the stigma from those who truly can't work of claiming benefits.Heard it debated many times on R4 in I guess much better detail than the lightweight One Show. Paid for by taxing the rich.

No idea if it's sustainable but an interesting concept that's been around since the 80's

Everyone gets it! Bit like the energy payments of £67 given to everyone - why would you give these payments to those who are not struggling! I can honestly say - I donated my payments to charity as should many of others if they cared about those struggling.

So someone who is wealthy who has not shown an income for let’s say 2 years - why should they get this universal credit payment?

Sorry - I don’t get it! We all know those usually with money are the meanest of all and only interested in feathering their own nests!

[9goals2hattricks3pen]

Everyone gets it! Bit like the energy payments of £67 given to everyone - why would you give these payments to those who are not struggling! I can honestly say - I donated my payments to charity as should many of others if they cared about those struggling.

So someone who is wealthy who has not shown an income for let’s say 2 years - why should they get this universal credit payment?

Sorry - I don’t get it! We all know those usually with money are the meanest of all and only interested in feathering their own nests!

OK with no cricket today I'll have a crude go at explaining how UBI might work and answer what you don't get.

These figures are just some guesses from me so not from anyone who has anything like the understanding needed to work out the economics.

All benefits and pensions would be stopped saving £350 billion pa.

Everyone would get £19k UBI and pay no tax on it.

A low earner presently on £20k picks up £17k. With UBI their gross would be £39k but the extra would be heavily taxed so they might pick up £28k

Someone on £40k presently picks up £30k . UBI gross is £59k extra tax takes them down to perhaps £35k.

Somewhere there would be a cut off figure whereby if you earn more then the tax would take away at least the £19k

£100k + earners would be very heavily taxed taking away more than the £19k extra from UBI. SO ALTHOUGH THE RICH 'GET IT' THEY DON'T KEEP IT!'

Different to you I believe vast majority of 'the rich' would happily give up a bit if it meant they didn't have to wake up each day to numerous genuine hard luck stories about food banks etc.

Would the benefit payments saved and the extra tax collected pay for all this? No idea!

There has been some small pilot schemes and there have apparently been no evidence of people being lazier or less willing to work It is reckoned that low earners for instance would still be motivated to work and earn the extra.

No idea if this is economically viable and no one is advocating we start it tomorrow. Just that some think it's an interesting concept worthy of some consideration. Don't you think?