More UBI/Basic Minimum Income

Last week I said it occurred to me that, if things continue as they are, the government will have to do a UBI or a basic minimum income. It seemed logical. Right after I figured that out, a couple of Democrats proposed giving people aged 16 or older who make $130,000 or less a basic income of $2,000 or more a month. There would be a $500 bonus for kids that would cover up to 3 kids.

Obviously, this proposal in its current form is dead on arrival. a) The first stimulus check of $1,200 covered people making up to $99,000 a year. Going over a $99k/year threshold doesn't seem smart, and $99k/year is probably too high already. That's hardly poverty. b) And giving 16-year-olds $2k a month? No. That's designed to destroy families. UBI plans for the U.S. always have a lowest age of 18 years. c) Current UBI plans call for $1,000 a month. The U.S. could barely afford that. It can't afford a $2k/month UBI. I don't imagine Congress going for that. In the first stimulus Republicans wanted to give people $1,000/month or so for two months, and Democrats wanted to give a one-time $3,000 payment. The compromise was a one-time $1,200(April) with a later trial balloon that there might be one more payment afterward(May). d) Parents of dependents who get $2k/month would also get the $500/month bonus. That's crazy. There's no way that kind of double dipping should be allowed.

However, a $2k/month basic minimum income instead of a UBI could work, especially if it was temporary. The Democrat proposal would end once the economy recovered, based on a mathematical formula that determined what "recovery" means. That really isn't a true UBI. It's a temporary basic income. So, hmm, maybe $2k isn't outside the realm of possibility. I maybe could see a $2k/month or $1,500/month basic income for 18-yr-olds(i.e. voters) and older who make below $99k/year, possibly with a phase out above $99k/year like the first stimulus check had.

When would this happen if it actually does? Not before May. The Senate is on vacation until May 4th. I believe the House started another vacation yesterday after the vote for stimulus 3.5. Don't forget that Congress usually only works 90 to 110 days of the year. Something we're seeing from the current coverage is how often they're on vacation. The Senate voted Monday. They get two weeks off. The House probably will get close to that, too. I think a basic income would start in May and could be retroactive to April at least partially. The April basic minimum income would subtract the $1,200 stimulus check from the total.

Besides the fact that people need it, I see other motivations for a basic minimum income plan. There have been various small tests of UBI/basic minimum income plans in various countries. This is an incredible opportunity to test something on a large scale in a large country and see how it works. We can't let this crisis go to waste. ;) Another motivation is political. Democrats are all over this because they think they can accrue more voters. That's the real reason for the aged 16 number. If Democrats can convince those kids they're the ones giving them the money, they would have a new generation of 18-yr-old voters who wouldn't want to lose that money. This crisis is expected to last two years unless there's a vaccine. The basic income would last beyond the crisis. Those 16-yr-olds would turn 18 with a basic minimum income. Republicans have a motivation, too. Before the economy tanked, Trump had an easy path to victory in November. With people seeing hard times, Biden is now in control of key battleground states, according to polling. A basic minimum income would give voters stability and peace of mind and could swing them back to Trump. The nation normally doesn't switch presidents in a crisis. A little money could guarantee that holds true again.

Six months from now might be the time to buy a car.

A UBI story.

Trouble in Saudi Arabia and beyond. The collapse of oil prices could trigger a war.

A video about the collapse of oil.

The Senate wouldn't be able to vote while on vacation next time.

In a previous blog I noted that an immunity passport is eerily similar to the mark of the beast from the Bible because no business would be able to buy or sell unless all employees had an immunity mark. The WHO is saying immunity passports probably won't work. It seems off the table. . .for now.

In Texas, do lives matter? Not if you're the lieutenant governor.  He said there are, 'more important things than living'. #texas #NoLivesMatter

Rich people are fleeing and running away from SARS-CoV-2.

According to the WHO, politicians with easy lives don't understand the gravity of the pandemic. Looking at how Congress is reacting, I already saw that.

 An article about three proposed stimulus plans, including the $2k/month one.

 Have a great weekend.