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Negative income tax is not the same as the Basic Income we are talking about not sure you know what either is if you think they are the same.
Negative Income Tax is a form of Basic Income.
Source: “The Many Faces of Universal Basic Income,” The Political Quarterly 75(3) 2004, p. 266-274
Quote:
Originally Posted by Storm Eagle
The only place it we have a Basic Income is Alaska and I have yet to hear horrible things about it.
Basic Income was tested 1968-1972 in New Jersey among a sample population. Pennsylvania cities were added so that the test subjects would include White households in the sample population, instead of only Black and Latino households. The sample populations had 2-parent households with income below 150% of the federal "poverty" level. The link for data is here:
Basic Income was tested again in a rural setting in Iowa and North Carolina from 1970-1972. See the Rural Income Maintenance Experiment (RIME), which was mostly female headed households below 150% of poverty level.
A third test ran 1971-1974 called "The Gary, Indiana Experiment" which was almost exclusively Black households headed by females below 140% of the poverty level.
A 4th test ran 1972-1982 known as the Seattle Income Maintenance Experiment and the Denver Income Maintenance Experiment used household samples of Whites, Blacks and Latinos.
But don't expect it to end our economic depression. If you want to end it, rework the economy the way WWII did. Emotionally you need a before and after. Before WWII was The Great Depression. After was the post WWII economic boom time.
The boom time started in 1933. Same year as the New Deal.
The boom time started in 1933. Same year as the New Deal.
An alternative explanation was FDR explaining how the banking system worked and asking people to put money in banks, the result was the largest single day deposit in history. Putting the banks back on sound footing. And the belief that they were.
Looking at your graph. It was WWII that pushed us over the long term trend line. We haven't spent enough time area below the line to expect good growth any time soon.
In our current economy with outsourcing the way it is I don't expect a new, new deal to have the same effect. Outsourcing needs to be addressed first.
It was WWII that ended the Great Depression.
And once the war was over there was lots of money to be spent.
Recall your history that there were restrictions and quotas on what one could buy.
Women were working and men were in the military. Lots of money earned that could not be spent so it was saved.
But it is not the definition we are discussing here.
Quote:
Originally Posted by J.Thomas
I agree with posters.
Negative income tax doesn't mean Basic income.
You still dodged the issues.
Basic Income was attempted five different times in four pilot programs...
The New Jersey Income Maintenance Experiment
The Rural Income Maintenance Experiment
The Gary, Indiana Experiment
The Seattle Income Maintenance Experiment
The Denver Income Maintenance Experiment
...and failed each time. Cash payments were made to households in the amount of $1,000 per month in the SIME/DIME programs resulting in the households reaching the median income for the time, which was $12,000 annually. In the other programs, cash payments were made to bring household income up to 250% of the poverty level.
The cash-maintenance programs developed by Nixon (Family Assistance Program) and Carter (Better Jobs and Income Program) were ultimately replaced with the EITC.
Once again...
81,369,745 is the number of American wage earners earning less than $30,000 annually, representing 51.44% of all American wage earners.
How much is this "social security" and who gets it? Wage Earners? Adults over 25? Everyone? And who pays for it?
Basic Income was attempted five different times in four pilot programs...
The New Jersey Income Maintenance Experiment
The Rural Income Maintenance Experiment
The Gary, Indiana Experiment
The Seattle Income Maintenance Experiment
The Denver Income Maintenance Experiment
...and failed each time.
Apples and oranges. Those experiments, conducted around 1968-1971, gave supplemental income to welfare recipients who weren't working at a time when anyone motivated to get a job could find one. This was a social program, not an economic one. There was no shortage of demand in the economy then, and no surplus of labor. Basic Income isn't a social program, it will be an economic necessity to replace demand displaced by increasing productivity from automation and robotics.
Apples and oranges. Those experiments, conducted around 1968-1971, gave supplemental income to welfare recipients who weren't working at a time when anyone motivated to get a job could find one. This was a social program, not an economic one. There was no shortage of demand in the economy then, and no surplus of labor. Basic Income isn't a social program, it will be an economic necessity to replace demand displaced by increasing productivity from automation and robotics.
Don't bother the opponents of basic income in this board seem to think automation is not a serious problem. Or they just want people to starve to death.
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