Just like taxing high earners, or the “Wealth Tax,” failed in France a few years ago, a test of “Universal Basic Income” has just been discontinued in Finland.
The result of free money?
No one tries to get a job.
Why? Because these are socialist programs of wealth redistribution to cripple the working class and force more and more people into welfare (government) dependency.
Finland to end basic income trial after two years
Jon Henley 23 Apr 2018
Government rejects request for funds to expand scheme and plans stricter benefits rules Europe’s first national government-backed experiment in giving citizens free cash will end next year after Finland decided not to extend its widely publicised basic income trial and to explore alternative welfare schemes instead.
Finland’s basic-income trial did not much affect work incentives
Some UBI supporters may be disappointed that the scheme did not increase time worked. Unlike other benefits, which are withdrawn as claimants find work and so tend to discourage them from accepting a job offer, the basic income creates no such disincentive, because it is paid even after claimants take up work. But most proponents do not see employment as UBI’s primary goal. They will be cheered by the fact that the participants reported being happier.
The Universal Basic Income Is An Idea Whose Time Has Not Come
By J. David Patterson 20, 2017
From almost the beginning of the Industrial Revolution, people have alternatively celebrated and feared the effects of machinery on their economies and cultures. The current iteration of this fearful joy tells us that automation will make too many people unemployable and, in its darkest mood, that artificial intelligence will undertake a war to eradicate humanity.
As Nikhil Reddy of the Huffington Post puts it, “The melancholy truth is that this is a certainty – these machines will come to do our work better than we can – so we must maintain a plenary focus on protecting the financial and occupational interest of those whose jobs are up for grabs. The solution – receiving troves of support from the likes of Bill Gates, Elon Musk, Mark Zuckerberg, and Richard Branson – is universal basic income.”
The concept of universal basic income (UBI) is that the federal government would guarantee that everyone receives a minimum income regardless of circumstance to offset the horrible effects of automation and AI which represent the successful advance of technology. Under this theory, the culprit, technological success, will put people out of work and irrevocably reverse the course of business in a market economy, as we know it, if the United States does not implement UBI.