Society/Culture A basic income for citizens.

[nut]

Authorities in Finland are considering giving every citizen a tax-free payout of €800 ($1185) 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.



Read more: http://www.canberratimes.com.au/wor...very-month-20151207-glhff9.html#ixzz3td4qL7AO
Follow us: @canberratimes on Twitter | CanberraTimes on Facebook


Im expecting regime change their shortly.... cant have this on top of their education revolution succeeding.

 

[Admiral Byng]

What is their top rate of personal income tax?

I presume that for this to work that most of the ordinary taxpayers will be paying well over 800 Euro per month in tax. Seems like just another way of calculating tax free thresholds and allowances/bebefits. Perhaps it is more efficient in terms of administrative costs.

 

[undefined]

The government will make a final decision in November 2016 on whether to implement this proposal, which would straighten out the social security system & restrict welfare traps.

Once could presume productivity would drop if each citizen is receiving a tax-free 200EU a week; Finnish economic growth could be affected greatly.

 

[nut]

The government will make a final decision in November 2016 on whether to implement this proposal, which would straighten out the social security system & restrict welfare traps.

Once could presume productivity would drop if each citizen is receiving a tax-free 200EU a week; Finnish economic growth could be affected greatly.

evrry study has shown productivity doesnt drop.... or why would they do it?

 

[nut]

What is their top rate of personal income tax?

.

30%

 

[Lebbo73]

30%

30% pazza you lunatic

 

[nut]

30% pazza you lunatic

add about 2-3% for medical insurance... medicare. The also dont have a private school system and have the greatest education system in the world.

 

[undefined]

evrry study has shown productivity doesnt drop.... or why would they do it?

Those studies could work in theory but in practise it may turn out to be highly experimental.

 

[nut]

Those studies could work in theory but in practise it may turn out to be highly experimental.

It worked in Canada ... and even Milton Friedman was a fan

this system works so much better,,,,, http://www.canberratimes.com.au/bus...e-us-population-combined-20151207-glha3i.html

 

[Admiral Byng]

30%

Seems a bit on the low side to me. But I don't know much about Finland I must confess.

Still, an experiment worth following with an open mind (as open-minded as I can be but I'm still glad it is someone else doing the experiment).

 

[undefined]

It worked in Canada ... and even Milton Friedman was a fan

this system works so much better,,,,, http://www.canberratimes.com.au/bus...e-us-population-combined-20151207-glha3i.html

I suppose the current system is quite flawed (it's a better option to be unemployed than to earn a very low income). Having incentives not to lift a finger seems an indictment on Finnish policies.

 

[nut]

Seems a bit on the low side to me. But I don't know much about Finland I must confess.

Still, an experiment worth following with an open mind (as open-minded as I can be but I'm still glad it is someone else doing the experiment).

Switzerland having a referendum on it too

http://www.businessinsider.com.au/h...sic-income-initiative-works-2013-11?r=US&IR=T

 

[undefined]

Seems a bit on the low side to me.

Really low.

nut where'd you get the 30% figure from?

 

[Hank Scorpion]

Seems like a good idea. Practically no change for the unemployed/disabled/students etc., the mid to high income earners would pay extra tax to offset their €800 benefit, low-income workers get rewarded for some workplace participation, thereby creating incentive for the unemployed.

I suppose the welfare traps could simply be ironed out as an alternative, but basic income would greatly reduce the complexity of the whole system.


Good idea for mine, certainly worth watching the experiment if they follow through with it.

 

[nut]

Really low.

nut where'd you get the 30% figure from?

https://en.wikipedia.org/wiki/Taxation_in_Finland#Earned_Income_Taxes

 

[nut]

Seems like a good idea. Practically no change for the unemployed/disabled/students etc., the mid to high income earners would pay extra tax to offset their €800 benefit, low-income workers get rewarded for some workplace participation, thereby creating incentive for the unemployed.

I suppose the welfare traps could simply be ironed out as an alternative, but basic income would greatly reduce the complexity of the whole system.


Good idea for mine, certainly worth watching the experiment if they follow through with it.

The reduction in crime... thus reduced police force expenditure... prisons etc.. lawyers.... etc etc...

 

[Taylor]

Will mid to low wage incomes be offset by this amount as first home buyers grants lifted the house prices in that market?

 

[nut]

Will mid to low wage incomes be offset by this amount as first home buyers grants lifted the house prices in that market?

Its why it wouldnt work here IMO... we dont have control over our debt based economy. All it would do is create richer banking sector and further inflate the housing sector.

 

[Taylor]

I like the idea of a minimum standard of living, removed from a dollar figure, just a standard space, standard nutrition and entertainment etc.

Then the government can provide it, but a dollar figure feels cold to me

 

[Admiral Byng]

Will mid to low wage incomes be offset by this amount as first home buyers grants lifted the house prices in that market?

Presumably the minimum wage won't be adjusted.

 

[Taylor]

Presumably the minimum wage won't be adjusted.

I think I worded it wrong. I'm predisposed to expecting business owners to avoid paying their minimum pay employees any more than they have to, considering these people will get an up front help they might think their employees don't need any more. In Australia the business owners would complain about their tax paying bonuses to them, because it wouldn't be for anyone earning over a certain amount and the issues that brings.

I like the idea. Nobody should take what I say as opposition to it.

 

[Sydney Bloods]

short sighted, businesses will just up their prices negating the effects.

 

[CbayT]

add about 2-3% for medical insurance... medicare. The also dont have a private school system and have the greatest education system in the world.

Come off it

Finland is one of the highest taxation countries on the planet

Yes federal income tax is up to 30% then add municipal income tax up to 18.5% and social income tax of up to 18% plus a vat of mostly 24%. Paradise

 

[nut]

Come off it

Finland is one of the highest taxation countries on the planet

Yes federal income tax is up to 30% then add municipal income tax up to 18.5% and social income tax of up to 18% plus a vat of mostly 24%. Paradise

Read the question I answered

 

[CbayT]

Read the question I answered

I did you didn't tell the whole truth

There are two income takes and a social security tax based on income. In comparison to australia income taxes are up to 60+% and start biting a lot harder on lower income workers