Barack Obama signals support for a universal basic income

Former President Barack Obama came out in support of an economic policy that is far to the left of anything being proposed by most sitting U.S. politicians.
While delivering remarks Tuesday at the 16th annual Nelson Mandela Lecture in Johannesburg, Obama appeared to endorse the idea of creating a universal basic income, the policy where the government grants citizens a minimum annual income to live on.

“It’s not just money that a job provides,” Obama said in a portion of his speech devoted to economic policy. “It provides dignity and structure and a sense of place and a sense of purpose. So we’re gonna have to consider new ways of thinking about these problems, like a universal income.”

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This, in my opinion, is the foundation for the Democrat platform.

UBI.

Universal Basic Income.


Free money!


My biggest concern with this is that once you start a program like this, you can't stop it.

In Stockton, California, and possibly Chicago, Illinois, people will become dependent on the additional income.

It won't be able tor be reversed, because who is going to want to take away 6 grand a year from poor Americans!

Once this starts, it's the end.


People will eat this up. We've had years of social engineering about the greedy rich and punishing success so much that people will jump on this with both feet.


This is how the democrats will gain back power.

By giving away "free" money.

This is how Chicago will finally drag Illinois down into financial bankruptcy.

They can't sustain it.

a reply to: DBCowboy

What cracks me up is that these are the most destitute, mismanaged, bankrupt cities in those States deciding giving away free money is a good idea! What kind of idiot comes up with this?
Oh yeah! The same people that ran those towns into the dirt in the first place...madness

Make all the lawyers pay for it in the country, they seem to be well off.

a reply to: DBCowboy


Very hard to run a political campaign against Santa Claus.

You already got a taste of this snip.

Social Security.

Guaranteed POVERTY.

UBI is a delusion because no one wants to think where the income for over 300 million American would come from.

And guess effing what ?

No amount of printing more fiat currency.

No amount of borrowing money from communist China,and Japan, and OTHER countries.

No amount of treasuries.

No amount of taxation would even come close to the cash outlay.

“It provides dignity and structure and a sense of place and a sense of purpose

Yeah people having your hand out expecting someone else to put a stipend in it just ooozes 'dignity'.

a reply to: DBCowboy

He had 8 years to do that. He better shut up now.

a reply to: DBCowboy

To be sure I'm no supporter of Obama.

In the not too distant future there will be a choice;

UBI

or

Uncharted waters with respect to crime and poverty.

AI will bring this on, we have already been warned.

originally posted by: Trueman
a reply to: DBCowboy

He had 8 years to do that. He better shut up now.

a reply to: DBCowboy


“It’s not just money that a job provides,” Obama said in a portion of his speech devoted to economic policy. “It provides dignity and structure and a sense of place and a sense of purpose. So we’re gonna have to consider new ways of thinking about these problems, like a universal income.”

WTF does that mean? A job provides confidence and purpose, so we need to think about giving people something for nothing to undermine that?

a reply to: DBCowboy


Maybe that was what he could be more flexible about after the elections. More flexible with his ability to spread Communism. Well, it's a good thing we have Trump in office. I wonder when he will call it out and bring the spotlight back to himself.

To say that UBI is "far to the Left" is really inaccurate. It has support in right-wing circles too. Milton Friedman was a supporter for instance.

originally posted by: neo96
You already got a taste of this snip.

Social Security.

Guaranteed POVERTY.

UBI is a delusion because no one wants to think where the income for over 300 million American would come from.

And guess effing what ?

No amount of printing more fiat currency.

No amount of borrowing money from communist China,and Japan, and OTHER countries.

No amount of treasuries.

No amount of taxation would even come close to the cash outlay.

Yet the same ones who support UBI will scream bloody murder about our military spending then when they catch their breath scream bloody murder that Trump told our NATO allies to start paying their dues?

a reply to: theantediluvian

This right winger thinks it's idiotic.

This would drag out the (already 50 years) war on poverty for another 50 years.

😎

originally posted by: DBCowboy
It won't be able tor be reversed, because who is going to want to take away 6 grand a year from poor Americans!

I'll answer the call and run if needed. I'm not opposed to running on the platform of "STFU and Earn it Yourself."

You're right, of course. I don't think it will win them anything, though. Bernie's abject failure within his own party's voters, losing the primaries to the most internally disliked candidate to ever win the Democrat primary, demonstrated even among Democrat voters socialism is viewed as bullcrap and a ticket to failure.

a reply to: myselfaswell

I agree to a point, but I don't think a UBI is the only solution. I think a total reworking of the economy will need to be figured out, by smarter people than me. And hopefully they're not politicians.

But some form of the barter system, and exchange of goods for services...may work.

But yes, automation and AI is going to create a post occupational society and we need to figure that out. But now is not that time and these handouts being done in this manner will only serve to create further dependency on the Govt. which is never a good thing.

a reply to: DBCowboy

Without added revenue (your tax money) or efficiency there can only be cuts and re-allotment.

originally posted by: xuenchen
This would drag out the (already 50 years) war on poverty for another 50 years.

😎

The one percent would definitely be gone, they'd be the new 3/5's crowd for a time.

Then 100% of the people would be equally poor.