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Title: Finland is considering giving every citizen €800 a month
Source:
UK Telegraph
URL Source: http://www.telegraph.co.uk/news/wor ... every-citizen-800-a-month.html
Published: Dec 6, 2015
Author: Adam Boult
Post Date: 2015-12-06 12:42:26 by cranky
Keywords: None
Views: 8256
Comments: 62
Proposals for a national basic income are intended to simplify the social security system and encourage more unemployed people to take on temporary work Authorities in Finland are considering giving every citizen a tax-free payout of €800 (£576) each month. Under proposals being draw up by the Finnish Social Insurance Institution (Kela), this national basic income would replace all other benefit payments, and would be paid to all adults regardless of whether or not they receive any other income. Unemployment in Finland is currently at record levels, and the basic income is intended to encourage more people back to work. At present, many unemployed people would be worse off if they took on low-paid temporary jobs due to loss of welfare payments. More than 10 per cent of Finland's workforce is currently unemployed, rising to 22.7 per cent among younger workers. According to research commissioned by Kela, close to 69 per cent of the Finnish population favours the idea of a national basic income. Finnish Prime Minister Juha Sipila Detractors caution that a basic income would remove people's incentive to work and lead to higher unemployment. Those in favour point to previous experiments where a basic income has been successfully trialed. The Canadian town of Dauphin experimented with a basic income guarantee in the 1970s and the results - both social and economic - were largely positive. Finnish Prime Minister Juha Sipilä supports the idea, saying: “For me, a basic income means simplifying the social security system.” The basic income will cost Finland roughly €46.7 billion per year if fully implemented. Kela's proposals are due to be submitted in November 2016. The Dutch city of Utrecht is also planning to introduce a basic income, albeit solely for welfare recipients. From next month more than 250 unemployed residents of the city will be given a monthly sum to live on, with researchers monitoring the outcome to determine what effect it has on employment. Switzerland is also considering introducing a national basic income. In September the Swiss parliament voted, with a large majority, for a motion calling on the Swiss people to reject the Popular Initiative for Unconditional Basic Income. However, a nationwide referendum on the issue is slated for 2016 and, according to a recent online poll, 49% of the Swiss would currently vote in favour of its introduction. 
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Begin Trace Mode for Comment # 32.
#1. To: cranky (#0)
(Edited)
Under proposals being draw up by the Finnish Social Insurance Institution (Kela), this national basic income would replace all other benefit payments, and would be paid to all adults regardless of whether or not they receive any other income. Unemployment in Finland is currently at record levels, and the basic income is intended to encourage more people back to work. At present, many unemployed people would be worse off if they took on low-paid temporary jobs due to loss of welfare payments. Fair Tax advocates in the USA are considering giving every citizen a tax-free payout/prebate of $1000. each month. Under proposals being draw up by the Fair Tax legislators this national basic income would replace all other benefit payments, and would be paid to all adults regardless of whether or not they receive any other income. Unemployment in the USA is currently at record levels, and the basic income (AKA as a 'Prebate') is intended to encourage more people back to work. At present, many unemployed people would be worse off if they took on low-paid temporary jobs due to loss of welfare payments. It's probably too late for a tax scheme like the Fair Tax (with prebate) - coupled with a repeal of ALL income tax codes, -- to avert national financial collapse, -- - but it may be worth a try.
Don't be stupid The deliberately misnamed "Fair Tax" is a proposal advocated by the worst tax frauds, money launderers, swindlers, cheats, thiefs, grifters, conartists & corporate shills in Congress. Their claim that business income taxes are a hidden, embedded "cost" that are "passed along" to the consumer is a baldfaced lie. Business income taxes are NOT a cost. They are a lawful government confiscation of a portion of the business profits (if any) calculated AFTER costs are deducted from revenue... If a business doesn't make any profit, then a business doesn't pay any business income tax. In fact, the idiotic assertion that ANY cost can simply be "passed along" to the consumer shows total ignorance of how businesses operate in a competitive market economy. Prices are determined by supply & demand in the marketplace with NO guarantee that businesses will make a profit. If companies could simply "pass along" their costs, no business would ever go bankrupt. If you want to give the "Fair Tax" a try, tpaine, then you might as well become a monthly donor to JimRob's Eternal Snookerthon! Dig deep into your wallet, tpaine... Jimmy only needs another $4.3k to go to put him over the top for the 4th Qtr which he's been dragging on forever!
Yeah, they are. If I make a product that costs me $8 and I sell it for $10, I make a profit of $2. I then pay the government 60 cents corporate tax, keeping $1.40. That 60 cents comes from the $10 selling price. Where did you think it came from? "If companies could simply "pass along" their costs, no business would ever go bankrupt." They have to pass along their costs or they WILL go bankrupt.
No you don't. Your company has $20 million fixed costs... you have to sell product to a million customers just to break-even before you have any profit or income tax obligations.
My $8 cost includes materials, labor, and overhead (fixed costs).
Then your 60-cent tax came out of your $2 profit, not the selling price.
#33. To: Willie Green (#32)
My 60-cent tax came out of my $2 profit which came out of the $10 the customer paid for my product.
Something to think about when it comes to the Fair Tax: As I stated before, my $8 cost consists of material, labor and overhead. My labor cost is the gross income to the employee. As the employer, I deduct FICA and income taxes from the gross income and send that money directly to the government. The employee gets the rest. Are you with me so far? This means that when the customer buys my product for $10, HE is the one paying the FICA and income taxes because that's part of the cost of the product.
Top • Page Up • Full Thread • Page Down • Bottom/LatestAuthorities in Finland are considering giving every citizen a tax- free payout of €800 (£576) each month.
#2. To: tpaine (#1)
-- - but it may be worth a try.
Where'd you learn your business economics, tpaine?
From Jimmy "Woo-Hoo" Robinson?
#28. To: Willie Green (#2)
"Business income taxes are NOT a cost."
#30. To: misterwhite (#28)
If I make a product that costs me $8 and I sell it for $10, I make a profit of $2.
#31. To: Willie Green (#30)
"Your company has $20 million fixed costs"
#32. To: misterwhite (#31)
My $8 cost includes materials, labor, and overhead (fixed costs).
That 60 cents comes from the $10 selling price. Where did you think it came from?
Replies to Comment # 32. "Then your 60-cent tax came out of your $2 profit, not the selling price."
#34. To: Willie Green (#32)
End Trace Mode for Comment # 32.
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