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Go back to 1950s USA where average annual salary was just over $3000 - if I told you back then I'd give you $500 a month - almost twice the average salary where
by jarym 10y ago
Go back to 1950s USA where average annual salary was just over $3000 - if I told you back then I'd give you $500 a month - almost twice the average salary where do you think we'd all be now? Would we be even here?
Now take your $500 a month and project forward another 50-60 years. What do you think it'll buy you then and why?
By picking a monetary amount - be it $50, $500 or $1000 it IS absolutely making a determination about what's basic. And its doing it based on the living standards and cost of living of today. That's a large part of why its so flawed.
- delinka 10y agoIt seems to me it'd have to be specified as a formula based on the "poverty threshold" and "inflation." I really can't imagine just throwing out a number and expecting it to be unchanged for decades.
- theaeolist 10y agoThe precise amount will not be enshrined in the constitution. It will be most likely adjusted periodically to ensure subsistence without removing the motivation to work.