Basic income. People may scoff, but this is one of the extremely rare ideas that can draw significant support from both sides of the isle in the US.
There are pockets of strong opposition to the idea on both the right and the left, but I can only hope that the far left's opposition to basic income continues. That opposition in and off itself makes most politicians in this country take a serious look at the idea.
I'd say it's one of the rare ideas that almost no one supports. The right obviously objects to redistribution. The left prefers inefficient redistribution. It's hard to say there's much tangible opposition on the far left or that opposition causes consideration or that most politicians are taking a serious look. I think you might have just gone 0 for 5.
The right also tends to like freedom of choice, reduced bureaucracy, efficient markets and price discovery, all of which BI does much better than current welfare systems.
This is an obvious strawman. The current inefficient solution is a compromise between the left (who want the government to help the poor) and the right (who don't want the government to help the poor, but can be persuaded if you mix in enough penalties for perceived sin.)
In order to have an efficient solution you need a majority of people voting to agree on what the goal is.
That's not quite true; just they want the main beneficiaries of redistribution to be the bureaucratic class rather than the working class. What you see as inefficiency (in terms of money reaching the end recipients) is in fact, the actual design doing what it was intended to do. Ideally (for them) ALL the money would go on civil servant salaries.
Since I am not an economist or very experienced in these matters may I ask what would prevent the cost of goods simply going up due to basic income being supplied? Wouldn't we end up in the same situation all over again except the government would then be forced to write checks as the population would be dependent on them due to increased costs?
> Since I am not an economist or very experienced in these matters may I ask what would prevent the cost of goods simply going up due to basic income being supplied?
Prices of goods demanded by the group of people receiving a net benefit from basic income (which, even though BI itself is universal, isn't everyone, because its funded by progressive taxation, which makes it a net downward transfer of wealth) would almost certainly go up with a basic income. The thing that suggests that the increase in price would generally be restrained such that the quantity of goods the net beneficiaries could afford would still increase despite the price level increase is "elasticity".
The "problem" that basic income is trying to solve is the massive increase in productive capacity due to automation, of which the increase of unemployment is a symptom. It's not so much that supply would meet demand (and so prevent prices going up), as that basic income allows demand to keep up with supply even as automation makes more with less labor.
You're assuming redistribution wouldn't happen through heavy taxation of existing capital and property, like France's wealth tax[1], where you pay when your worldwide net worth is above 1,300,000€.
2.
The US taxes citizens regardless of where they live[1], and in the case of renouncing the US citizenship it is required you pay an exit tax[2] equivalent to the capital gains of selling all your property when above $680,000.
1. Inheritance taxes are one part of the solution. Capital gains taxes are another.
2. Make the right to conduct financial transactions contingent on one being part of a global financial network which abides by a specific set of taxation rules. This can take many forms. The U.S. in particular is well-placed to initiate and control such a system. However, considering that Wall Street has captured Congress, I doubt the U.S. will come anywhere close to this in the first place.
I believe the goal is some kind of universal basic income, where the developed countries affected by these changes provide similar benefits. Of course, no matter what the solution is, political and social structures will have to change drastically to accommodate this kind of change in the world.
Disagreements on implementation are real (some on the right want this implemented only as Friedman's negative income tax, which is not a true GBI, and some on the left want a GBI in addition to the current welfare state), but there is still significant agreement, especially over the past few years.
The problem is implementation, do you really trust the US government to give it even more power over its people by allowing to hand out 'basic incomes' to everyone? I'm sure it will only become yet another tool to oppress dissent.
The federal government has a terrible record of trying and succeeding in ruining people they perceive as a threat to the status quo, including people like MLK Jr., a Senate confirmed target of the FBI. These tactics continue today, they are currently being directed towards investigative journalists and whistle blowers. The threats are so great as to create a very real chill among conventional journalists to keep on approved topics and messages.
Free speech zones, excessive pursuit of whistle blowers, proposed restrictions on cryptography, extensive use of national security letters, resisting FOIA requests, defending NSA programs, killing US citizens in secret.
I'm flabbergasted you believe my fears of government overreach and suppression of dissent is not well grounded.
There are pockets of strong opposition to the idea on both the right and the left, but I can only hope that the far left's opposition to basic income continues. That opposition in and off itself makes most politicians in this country take a serious look at the idea.