Fully expected and it won't matter. We will ultimately do this regardless.

What will you do with your UBI money?

A lot of hookers and cocaine.

We are screwed. AI is going to decimate entire industries and then this will be proposed as the solution. It's not compatible with capitalism.

Obviously, there weren't enough regulators or unions involved. Corporate greed ran rampant in the experiment.

I'm just a simple CM, but how is UBI different from communism?

Principles of economics aren't quite as concrete as the laws of physics... but they are pretty damn close.

Seems inconclusive to me. We should just do this on a nationwide scale and spend $10 Trillion on it anyway and just see how it goes. /Dem logic

Mondemonium said:

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We are screwed. AI is going to decimate entire industries and then this will be proposed as the solution. It's not compatible with capitalism.

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What happens in nature to animals that cannot feed themselves?

Capitalism should be allowed to do its thing.

Very interesting! Thanks for posting!

"Money" going out with no exchange for goods or services

Yep. That's gonna work just fine

They better hurry if they want to try cuz if they wait for Gen Z and Latino immigrants to get in charge they will
Slap this commie bs back to where it came from.

Leftists and socialism appeals to the worst in human nature. This UBI is another perfect example.

When you incentivize people to work less, they generally will. It doesn't take a genius to figure it out.

Fat Black Swan said:

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Quote:

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It was funded by the founders of ChatGPT, presumably to mitigate the potential job losses anticipated through AI and AGI.

1,100 randomized households making under $29,900 were given $1,000 per month for three years. Essentially, their income increased by 40%. The UBI participants lived in urban, suburban and rural towns in Texas and Illinois.

Result 1: UBI participants ended up earning $1,500 less despite being given $12,000 more annually. For every one dollar received, total household income dropped by at least 21 cents.

Result 2: UBI participants stayed unemployed for an extra month compared to those unemployed in the control group.

Result 3: UBI participants worked less and there were no substantive changes in quality of employment. UBI participants did little to improve their education or training to improve their income.

Result 4: UBI participants self-reported increased rates of disability to limit the work they can do.

Two ways to look at these results.

The American Underclass is so worn down that when thrown a life preserver, they could only float rather than paddle to safety. UBI advocates will argue that $1,000 per month wasn't enough.

Or, Universal Basic Income and its collectivist derivatives are never enough. Work is intrinsically tied to human dignity, happiness and progress.

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It's sad that someone paid money to conduct a study to figure out something any one of us could have easily told them would be the outcome.

GeorgiAg said:

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I'm just a simple CM, but how is UBI different from communism?

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shut up and quit asking good questions comrade

Universal Basic Income...if everyone has a thousand dollars, noone has a thousand dollars.

GeorgiAg said:

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I'm just a simple CM, but how is UBI different from communism?

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If UBI is ever put in place, the system would probably technically be closer to economic fascism. Large social safety net not that different from communism. Extremely high percentage (90%+) of nationalized industries but slightly less than communism. State controls production that is pushed to politically connected firms. Corporate profits are private while risk is socialized. Number of firms competing is more than communism but significantly less than capitalism.

GeorgiAg said:

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I propose a new study - where you give me a LOT of money, e.g., $100 billion, and I will trickle-down it.

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You'd probably donate most of it to Act Blue and Kamala.

I'm glad someone did the study.

Musk is a big supporter of UBI. As much as I admire and respect him I just don't see it working.

As far as how it differs from communism. Communism is each person works as "hard as they can" and each person "gets what they need". Of course we all know that doesn't work but that is the ideal Marxism theory.

Elon Musk thinks universal income is answer to automation taking human jobs | Mashable

This is not surprising. Regardless of income people will spend whatever money they have. A huge percentage of upper middle class people making well into the six figures are still living paycheck to paycheck.

Handing someone more money doesn't mean more savings nor does it mean more investment in education and job training. It means more spending to maintain the status quo.

This underscores the reason why a lot of homeless programs don't work. Throwing money at them does absolutely nothing and making housing or support structures available to them does marginally more because there is no disincentive to change the status quo and improve their circumstances. It's when you introduce efforts like removing encampments and enforcing certain societal norms that those things begin to work.

Simply put, carrots don't work without the stick if people don't already have an internalized desire to improve their station in life.

I've spent years working with families on welfare and what Reagan said is so very true



But that doesn't matter.

People want something for nothing and politicians want to be elected.

AGinHI said:

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I've spent years working with families on welfare and what Reagan said is so very true



But that doesn't matter.

People want something for nothing and politicians want to be elected.

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There are many things I really admire about Reagan, and his blunt honesty about the value of a worth ethic is probably the biggest one. I grew up in a poor family that was on welfare and food stamps and I knew I didn't want that to be my life. I ended up being the successful one in my family and it's clear that some in my family who lack that work ethic resent my success. I have no sympathy for them.

It always turns into the leaders get whatever they want and the rest get what's left over if there is anything left over , and if you question the leaders you get lead poisoning or prison.

Fat Black Swan said:

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This was about as catastrophic as the Georgia Land Lottery Study for the folks in support of such things.

Participants made less money, stayed unemployed longer, worked less, did not gain education or training, and reported higher rates of disability in order to avoid work.

A lot happened in July.

But, one event went quietly unnoticed.

The result of largest American controlled experiment in Universal Basic Income (UBI) was released.

You haven’t heard about it because the findings are terrifyingly bad. (1/12) pic.twitter.com/Q4NMtF5niQ

— Athan Koutsiouroumbas (@Athan_K) August 2, 2024

Quote:

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It was funded by the founders of ChatGPT, presumably to mitigate the potential job losses anticipated through AI and AGI.

1,100 randomized households making under $29,900 were given $1,000 per month for three years. Essentially, their income increased by 40%. The UBI participants lived in urban, suburban and rural towns in Texas and Illinois.

Result 1: UBI participants ended up earning $1,500 less despite being given $12,000 more annually. For every one dollar received, total household income dropped by at least 21 cents.

Result 2: UBI participants stayed unemployed for an extra month compared to those unemployed in the control group.

Result 3: UBI participants worked less and there were no substantive changes in quality of employment. UBI participants did little to improve their education or training to improve their income.

Result 4: UBI participants self-reported increased rates of disability to limit the work they can do.

Two ways to look at these results.

The American Underclass is so worn down that when thrown a life preserver, they could only float rather than paddle to safety. UBI advocates will argue that $1,000 per month wasn't enough.

Or, Universal Basic Income and its collectivist derivatives are never enough. Work is intrinsically tied to human dignity, happiness and progress.

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Read the study for yourself and draw your own conclusions. (12/12)https://t.co/2XGxaj6M1W

— Athan Koutsiouroumbas (@Athan_K) August 2, 2024

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So.. socialism sucks?

Got it.

Mondemonium said:

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We are screwed. AI is going to decimate entire industries and then this will be proposed as the solution. It's not compatible with capitalism.

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This country gets what it deserves.

Fat Black Swan said:

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Participants made less money, stayed unemployed longer, worked less, did not gain education or training, and reported higher rates of disability in order to avoid work.

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Idiocracy was a documentary.