>>Top earners have a strong vested interest in the lowest possible income not being too low, because starving homeless masses have a negative impact on property values.
There is little evidence that property prices of high value homes in areas with high income inequality suffer.
>>If giving $X + $Y + $Z to everyone in the US would provide them with a better quality of life, then it makes sense to do that instead of managing separate programs.
Except either 1) benefits to the elderly and the poor must decrease (by more than half if medicare, ss and income security are replaced with a flat basic income) or 2) or taxes on the middle class must increase dramatically. 2) comes about because increasing the top tax rate from ~58%(all ss and medicare with income) to 70% raises about 1.5% of additional gdp in taxes as per the IMF; which even isn't enough to finance a neutral level of basic income for poor, unemployed and elderly.
If you don't increase taxes then millions of americans will enter poverty immediately under a basic income (dramatic quality of life reductions )while large tax increases have a far larger economic impact than the relatively small administrative costs of running social programs. It is just basic math that instead of giving $X dollars to Y number of people doubling Y doesn't let you keep X constant. Some people will be big losers(the most vulnerable).
>> It enables the minimum wage to be much lower than the poverty line. The nation has collectively decided that an adult working full time should be entitled to to the basic necessities of life, and the cost of that decision is that jobs which are worth less than $7.25 simply aren't offered (or are only offered illegally). If everyone already makes enough to get by, then there's far fewer ethical problems with paying someone $3 an hour to sweep some floors or pick up garbage from a sidewalk.
The elderly already receive income assistance that is as least as generous as what you are proposing for everyone and many of them still work. Do you expect them to work for significantly less?
There is little evidence that property prices of high value homes in areas with high income inequality suffer.
>>If giving $X + $Y + $Z to everyone in the US would provide them with a better quality of life, then it makes sense to do that instead of managing separate programs.
Except either 1) benefits to the elderly and the poor must decrease (by more than half if medicare, ss and income security are replaced with a flat basic income) or 2) or taxes on the middle class must increase dramatically. 2) comes about because increasing the top tax rate from ~58%(all ss and medicare with income) to 70% raises about 1.5% of additional gdp in taxes as per the IMF; which even isn't enough to finance a neutral level of basic income for poor, unemployed and elderly.
If you don't increase taxes then millions of americans will enter poverty immediately under a basic income (dramatic quality of life reductions )while large tax increases have a far larger economic impact than the relatively small administrative costs of running social programs. It is just basic math that instead of giving $X dollars to Y number of people doubling Y doesn't let you keep X constant. Some people will be big losers(the most vulnerable).
>> It enables the minimum wage to be much lower than the poverty line. The nation has collectively decided that an adult working full time should be entitled to to the basic necessities of life, and the cost of that decision is that jobs which are worth less than $7.25 simply aren't offered (or are only offered illegally). If everyone already makes enough to get by, then there's far fewer ethical problems with paying someone $3 an hour to sweep some floors or pick up garbage from a sidewalk.
The elderly already receive income assistance that is as least as generous as what you are proposing for everyone and many of them still work. Do you expect them to work for significantly less?