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What's your opinion on Unconditional Basic Income? (This is not Communism)

The Basic Income movement is one that is quickly gaining ground around the world. Both prominent right and left wing persons have given their support for this idea.

What's your thoughts on Basic Income, do you think it's a good idea?

http://en.wikipedia.org/wiki/Basic_income
http://www.reddit.com/r/BasicIncome/

EDIT: I forgot to mention (in case you haven't heard) that what sprout the movement was Switzerland's proposal for basic income ($2800 monthly). http://www.reuters.com/article/2013/10/04/us-swiss-pay-idUSBRE9930O620131004


EDIT 2: This is NOT meant as a universal cure for all the problems of the world, things like education, politics, corruption and deceases are separate issues (even though Basic Income might help with them) if you wish to solve those issues please join or start a conversation about those. However discussing them with respect of BI is very fine and encouraged.

Please try to NOT sway too far from the topic, which is "What's your opinion on Unconditional Basic Income?". Comments to others opinions are of course free to go far from the topic, but preferably not too far.

And please try to be constructive and mature in your comments to others on this conversation.

Also please read AT LEAST the provided Wikipedia article on Basic income as it will answer many questions posted here.


Thank you for reading this explanation...(?)

Topics: basic income
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Closing Statement from Jimmy Strobl

Wow, thank you ALL for your contributions to this conversation!

There's no way that I'm going to be able to summarize what was said here.
But I do feel that people might be ready for this transition or at least they are able to be convinced that it is feasible.

Anyway, thank you all for your participation and sorry for the lack of response the last few days.

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  • Dec 28 2013: the problem faced by any system where a guaranteed income exits is that price inflation rises to match the income
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      Dec 29 2013: Got any source on this? Because I've read nothing of the sort in any BI pilot.
      • Dec 29 2013: no sources, purely observation and speculation on my part, based on the introduction of a minimum wage here in the uk and the impact that has had longterm
        also that manufactures and retailers dont opperate on a fixed percentage margin, they will sell at the highest price the market will bear above near cost, below that they dump the product as storage is more expensive than profit

        i would say the biggest indicator would be the cost of rental housing, basic housing,that generally is leased at near £500 per month as that is the current cap on goverment housing benefit, the maximum a tenant can claim for.
        that a landlord pays under £200 per month to finance the loan is irrelivant as the additional is pure profit minus taxes and maintenence
        the knock on effect is that cheap housing gets bought up for the rental market and raises the prices on the remainder further eroding any value in earnings

        the problem faced is greed on an intrinsic level, from individuals, and corporationss who feel a duty to generate profits for share price growth to appease investors

        on a global level, oil companies and energy providers ignore issues of "fuel poverty" where the cost of heating and road fuel are directly forcing the lowest paid to choose between use or food, yet still report substantial quarterly profit in the billions, dispite pressure applied by goverments

        a report or study on this would be interesting to read, but i doubt many financial institutions would pay for one as the results wouldnt play to their benefit
        • Dec 29 2013: The real question is, where all those dumped goods go - wouldn't it be better to give away instead of destroying them?
          That still somewhat counts as income you know.

          At least you get marketing out of that. I'm pretty sure the law is interfering by some kind of tax.

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