Whether it's your first Bonnaroo or you’re a music festival veteran, we welcome you to Inforoo.
Here you'll find info about artists, rumors, camping tips, and the infamous Roo Clues. Have a look around then create an account and join in the fun. See you at Bonnaroo!!
Post by snowmanomura on Nov 21, 2020 14:54:23 GMT -5
Wait wait Don't Tell me got pretty controversial (by npr standards) this week. Mo Rocca made a small pox blanket joke when talking about Thanksgiving, and Peter sagal made a quip about obama's memoir: "he doesn't admit any mistakes in the book, but you can get it delivered by drone"
Question because based on what I’ve learned in my economics classes (not that I paid much attention) it doesn’t seem like a sustainable method. How does UBI work long term without causing inflation. As a concept I like the idea of keeping people afloat financially but don’t see it being helpful for more than a couple years. Or is that the goal?
UBI is only inflationary if you don't collect offsetting taxes (on corporations/rich, etc).
I’m not sure that totally answers the question. The rich and corporations don’t typically spend their stockpiles of money. Basic supply and demand, as taught in entry economics courses, would suggest that as more people who DO spend money are flooding the economy with new cash, demand increases. Therefore prices go up, i.e. inflation.
Question because based on what I’ve learned in my economics classes (not that I paid much attention) it doesn’t seem like a sustainable method. How does UBI work long term without causing inflation. As a concept I like the idea of keeping people afloat financially but don’t see it being helpful for more than a couple years. Or is that the goal?
Yes, but 12K in someone’s pocket to spend as they need would vastly out-way the potential 4% increase in price increase due to inflation. Simplifying. Monetary policy over the last decade has maintained low inflation while the economy has largely been in sustained expansion (until 2020) so I think the Federal Reserve would be well equipped to deal with inflation if we enacted UBI and saw a big economic expansion.
And the reality is you can get to a UBI today without a lot of new financing.
If we had a $12K/year UBI for everyone 18-65 (roughly 200M) you’re only talking $2.4T/year. There are about $1.6T in tax expenditure (credits, deductions, etc) in our current tax code; remove 3/4 ($1.2T) of them and we could immediately “fund” a $500/month UBI or be halfway to the $1000/month.
If you are able to work full time: $12K UBI + $15 minimum wage ≈ $41,500 gross.
The analysis I've seen is that minimum wage increases only generate so much of an increase in prices. A ten percent increase in minimum wage was associated with a .36% increase in prices, from a study analyzing data from 1978 through 2015 (link). The inflationary effect is small enough that it is vastly outweighed by the benefits. It's essentially negligible, and UBI would be similar.
Inflation is ongoing, and while obviously completely devaluing a currency would have a negative impact, small amounts of inflation aren't necessarily something to be avoided at all costs. It's not a major concern, overall.
Question because based on what I’ve learned in my economics classes (not that I paid much attention) it doesn’t seem like a sustainable method. How does UBI work long term without causing inflation. As a concept I like the idea of keeping people afloat financially but don’t see it being helpful for more than a couple years. Or is that the goal?
UBI is only inflationary if you don't collect offsetting taxes (on corporations/rich, etc).
As a former econ major, there are many things that should be inflationary in theory (low-interest rates, for instance) that have turned out to not be that way in practice.
Post by SupeЯfuЯЯyanimal on Nov 23, 2020 13:14:25 GMT -5
Already bored with modern politics, fucking Brace Beldin got me listening to this crank-ass JFK conspiracy series while I was doing yard work.
It's pretty good. At least for someone that never got into JFK stuff. I can see why it holds so much sway in conspiracy circles.
But I'd actually recommend the recent Chapo on the life of George H. W.Bush. Part one ends with JFK. The stuff about Prescott Bush allegedly being involved with Skull and Bones stealing Geronimo's skull is just insane.
the bernie staffers liked the picks so far for State, and UN secretary
Throw up a link if you have it. Because the flip side is the National Review saying Biden "could do a lot worse", and that's a right-wing, Neocon publication though Anti-Trump. Outside of the names already mentioned, here are some media speculations
Alejandro Mayorkas - Homeland Security Secretary (he'd be the first Latino and Immigrant picked to head Homeland Security)
John Kerry - Special presidential envoy for Climate Change (first time NSC will include an official dedicated to climate change)
Linda Thomas-Greenfield - Ambassador to the U.N. (she'd be - I think - the second black woman to be Ambassador to the U.N. after Susan Rice)
Avril Haines - Director of National Intelligence (former Obama Deputy CIA Director); first woman in the DNI job.
the bernie staffers liked the picks so far for State, and UN secretary
Throw up a link if you have it. Because the flip side is the National Review saying Biden "could do a lot worse", and that's a right-wing, Neocon publication though Anti-Trump. Outside of the names already mentioned, here are some media speculations
Alejandro Mayorkas - Homeland Security Secretary (he'd be the first Latino and Immigrant picked to head Homeland Security)
John Kerry - Special presidential envoy for Climate Change (first time NSC will include an official dedicated to climate change)
Linda Thomas-Greenfield - Ambassador to the U.N. (she'd be - I think - the second black woman to be Ambassador to the U.N. after Susan Rice)
Avril Haines - Director of National Intelligence (former Obama Deputy CIA Director); first woman in the DNI job.
the Sunrise tl;dr is that they respect kerry but his think tanks message was too broad and it's coalition too inclusive, vox notes that he's sort of taken steps to address the latter.
^^. We’ll see, any Republican would be worse, but it seemed like they could have been a lot more aggressive. I’ll be paying attention.
In other news (per Maddow Blog) former Fed Chairman Janet Yellen looks to get Treasury. She got fucked by Trump, so this may be a slap back at him. Nevertheless, she is qualified for the position.