Speaking
of UBI,
Canadian readers check out bill S-233, "An Act to develop a national
framework for a guaranteed livable basic income". If it
should be
enacted, the Minister (which Minister?) has a year to determine what
constitutes a livable basic income, create national standards for
health and social supports, ensure that participation in education,
training, or labor markets is NOT required to qualify, and any
implementation does not decrease sevices or benefits to anyone.
1. How is this going to be paid
for?
2. Lack of gainful employment requirements will surely exacerbate
mental health issues and drug problems.
3. This is a Liberal power play to create more dependency and
accrue more authority over every citizen
4. The sponsor is female Senator Kim Pate nominated by Trudeau in
November, 2016
A form of UBI already in existence would be government pension plans
like US Social Security and Canadian CPP (Canada Pension Plan). I
think it can be said that most first world countries have something
similar for their retirees. The big difference is that all these
programs have a contribution component where the benefits upon reaching
retirement age are loosely related to what each recipient has
contributed during their working career. This lessened the
problem of financing and also demonstrates how even benefit plans based
on participant contributions very quickly diverge from self financing
because it is too easy for politicians to promise new benefits and
impossible for them vote the taxes necessary to keep them
solvent.
For this reason alone, UBI plans of governments are certain fail.
No amount of MMT (Modern Monitary Theory) can ever save them. One
can therefore say with confidence that all such programs are doomed to
fail despite herculean efforts of politicians to implement them now and
foist the cost off on future generations via debasement of fiat
currencies. UBI programs will only incentivize more helpless unmotivated people, drag down the economy,
and wreck the traditon of freedom and self-reliance that make a country
great.