- 16 Dec 2020 05:30
#15143486
Because it pays everyone a UBI program must pay a lot less than the MMT JGP can. Therefore, any UBI will be a sub-poverty income. [There are 330M people 2/3 (for just adults) = 220M, at $20K/year 220M X $20K = $4.4T/year. At just $10K/yr it = $2.2T/yr.]
Further, corps. have been known to deduct what what their employees get from some welfare program.
MMT's JGP(Job Guarantee Program) only pays those who administer it and those working in it. [If it pays $20/hr and not all will want to work 40 hrs/week, it might average $40K/yr plus 1.5% for admin. = $40K + $6K = $46K/person in the JGP. So, right now about 20M are on unemployment. This is a very high number. But, it can be used as an upper bound on the cost of an MMT-JGP.
[So, 20M X $46K = $920 B.
. . . Comparison is => UBI= $4.4T (at $20K) < < $0.96 T = MMT-JGP. This is 22% less than the UBI and it pays twice as much per worker. And remember, this is an upper bound.]
The nation gets some benefit from what they are doing, which is better than paying them a UBI to do nothing.
I think I can say that I have proved that an MMT-JGP is far better than a UBI program.
OTOH, I am ignoring the effect all this would have on the Corps. in the private sector. I have zero doubt that the corps. would rather there be a UBI that pays $10K/yr. because nobody can live on $10K/yr (note I said 'live', not 'survive'), and the corps. could deduct that $10K from the pay of their workers (at least functionally over time). OTOH, the people working for the MMT-JGP have an income of $60K to $85K per couple (less taxes), which is enough to raise a small family.
. . . therefore, the corps. would find it much harder to totally exploit their workers. They would have to pay at least $20/hr, plus benefits. [Paying for healthcare should be a Gov. responsibility, so not this 'benefit'.]
.
Further, corps. have been known to deduct what what their employees get from some welfare program.
MMT's JGP(Job Guarantee Program) only pays those who administer it and those working in it. [If it pays $20/hr and not all will want to work 40 hrs/week, it might average $40K/yr plus 1.5% for admin. = $40K + $6K = $46K/person in the JGP. So, right now about 20M are on unemployment. This is a very high number. But, it can be used as an upper bound on the cost of an MMT-JGP.
[So, 20M X $46K = $920 B.
. . . Comparison is => UBI= $4.4T (at $20K) < < $0.96 T = MMT-JGP. This is 22% less than the UBI and it pays twice as much per worker. And remember, this is an upper bound.]
The nation gets some benefit from what they are doing, which is better than paying them a UBI to do nothing.
I think I can say that I have proved that an MMT-JGP is far better than a UBI program.
OTOH, I am ignoring the effect all this would have on the Corps. in the private sector. I have zero doubt that the corps. would rather there be a UBI that pays $10K/yr. because nobody can live on $10K/yr (note I said 'live', not 'survive'), and the corps. could deduct that $10K from the pay of their workers (at least functionally over time). OTOH, the people working for the MMT-JGP have an income of $60K to $85K per couple (less taxes), which is enough to raise a small family.
. . . therefore, the corps. would find it much harder to totally exploit their workers. They would have to pay at least $20/hr, plus benefits. [Paying for healthcare should be a Gov. responsibility, so not this 'benefit'.]
.