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I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you ar

I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30. It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time. Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

helpfulclippy 3y ago
Exactly. There’s a lot of danger waiting for you when you grow up and leave home. Money would certainly solve some problems, but if everyone knew every 20 year old had a big check they could go get a piece of, it will cause many more problems. 30 year olds will also have the same bullseye painted on their backs, but will at least have experience.
- mike_hock 3y ago
  Experience with what? A sudden 20k windfall? This will create an industry that is centered solely around milking 30 year-olds for every penny they're worth as soon as they turn 30 and then drop them like a hot potato. This will drive up prices immensely because there's a continuous stream of people turning thirty and your hard-earned 20k is worth the same as their 20k that just fell from the sky. It's a completely insane idea, and it doesn't solve any problems. When the 20k is gone, it's gone. It's precisely the people who need it the most that are the least likely to stuff it in the bank.
  - thrawa8387336 3y ago
    It's a people problem not a tech... sorry, money problem.
    - mike_hock 3y ago
      Money problems are economic problems. Economic problems are people problems.
- tcmart14 3y ago
  I wonder if to address this, we could do something slightly different. There is definitely a danger here. Hang out around a military base where a bunch of young men got back from deployment and see how many of them are driving BMWs. When I was in the Navy, my junior sailors would blow all the money they made on deployment on shitty cars and strippers. Maybe instead of just cutting a $20K check, perhaps an account that allows certain purchases. Like here is $20K, it is pre-authorized to use it to pay for tuition for a college or trade school. Pre-authorized for medical expenses. And perhaps other things, but you can't exactly go out and blow it on cars and strippers. Then perhaps with a, if you don't use it by 25, you can roll it into your 401K?
  - throwaway92700 3y ago
    Please note that in Spain, healthcare is free, and so is college for the most part, just like most of Europe.
goodbyesf 3y ago
Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K. The only downside is that it would collapse the war machine since no 18 year old will sign up for the military.
- lotsoweiners 3y ago
  Aren’t we currently experiencing inflation at least partially due to government stimulus handouts during Covid? I know there are multiple causes but free money certainly didn’t help. Also, I think it is a good idea to keep government programs means tested and separate. If you give people 20k, the number of people who should be feeding their kids with the money but instead bought “new rims” for their 2007 Honda Civic is going to be much greater than zero.
  - admax88qqq 3y ago
    The problem is most means tested programs end up as poverty traps where people avoid making more money productively so they don't lose their welfare or disability.
- xsmasher 3y ago
  Some people are not equipped to handle that responsibly. They'll promise it to rent-a-center in perpetuity and still be hungry halfway through the month.
- JimtheCoder 3y ago
  "Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K." Because next election cycle, some politician will set themselves apart by promising the 20k, plus a supplement for healthcare...and the whole circus begins again...
- pcurve 3y ago
  "welfare, healthchare, social security, etc" Healthcare: Some people get unlucky with genetic lottery and will require far more cost in care than others. Some type of universal coverage still needs to exist imho. Social security: Unfortunately, not everyone is good with money. Social security is a mechanism for balancing out and restributing wealth, but it's also an investing service for those who don't know how to. I'm not against some type of UBI, but there are some downsides with getting rid of existing programs. imho.
onlyrealcuzzo 3y ago
That's just debt, which everyone in the West is already swimming in.
germandiago 3y ago
As a spanish who pays 47% PIT and a ton more taxes including 21% VAT, tax for having a property (only one!) and that I see how much money is wasted on top of a 113% official GDP debt... and I can tell you tjat to pay what I pay you do not need to make even 80,000 eur/year. Who do you propose it should pay those 20,000? This woman, who talks to people as if they were 10 yo or less, said "the rich people". Do you know how much of that proposal you can pay with "the rich" in Spain? Very little. And by very little I mean not even 5% of that, probably less (I did not make the exact numbers but I am pretty sure it won't go beyond that). If you knew politicians, especially spanish politicians, you should know that the only thing they want is more money controlled through their hands. You know why, right? We all know it... Every spanish has 35,000 eur debt right now. A great idea, yes... to charge pwople that did not ask you with more debt til services collapse.
- throwaway92700 3y ago
  You do not pay 47% income tax in Spain. You may pay 47% marginal income tax (only for income above 60k EUR).
- deleted 3y ago
  [deleted]
- downWidOutaFite 3y ago
  Eres us spaniard no un spanish. No sé porque pero el inglés no es racional.
  - horsawlarway 3y ago
    "as a spanish person" would have worked. Basically - spanish isn't a noun it's an adjective, it describes a property of a noun (ex: Spanish language, Spanish Car, Spanish food, Spanish person etc...). The oddity is that we also treat "spanish" as the proper name of a language. So "Speaking spanish" and "Speaking the spanish language" are interchangeable. But no disagreement at all that english isn't rational. As an aside, it's a perfectly understandable comment, it just identifies the person as non-native english speaking.
  - 3y ago
layer8 3y ago
The problem is, many people would just take a 10-year loan at 20 since they know they’ll receive the €20K at 30. There’ll be a whole industry springing up around that.
- sublinear 3y ago
  It's almost like stimulus doesn't really work.
  - Eldt 3y ago
    If stimulus is people spending their money in the marketplace to meet their needs, I'd say it works quite well
    - sublinear 3y ago
      > their money Broke people immediately spending the money they got from the government... That's everyone else's money.
c22 3y ago
There's no guarantee you'll be wise enough when you're thirty. Better idea: give them a couple grand at eighteen so they learn an early life lesson about windfalls, then give them the rest at thirty.

helpfulclippy 3y ago

Exactly. There’s a lot of danger waiting for you when you grow up and leave home. Money would certainly solve some problems, but if everyone knew every 20 year old had a big check they could go get a piece of, it will cause many more problems. 30 year olds will also have the same bullseye painted on their backs, but will at least have experience.

mike_hock 3y ago
Experience with what? A sudden 20k windfall? This will create an industry that is centered solely around milking 30 year-olds for every penny they're worth as soon as they turn 30 and then drop them like a hot potato. This will drive up prices immensely because there's a continuous stream of people turning thirty and your hard-earned 20k is worth the same as their 20k that just fell from the sky. It's a completely insane idea, and it doesn't solve any problems. When the 20k is gone, it's gone. It's precisely the people who need it the most that are the least likely to stuff it in the bank.
- thrawa8387336 3y ago
  It's a people problem not a tech... sorry, money problem.
  - mike_hock 3y ago
    Money problems are economic problems. Economic problems are people problems.
tcmart14 3y ago
I wonder if to address this, we could do something slightly different. There is definitely a danger here. Hang out around a military base where a bunch of young men got back from deployment and see how many of them are driving BMWs. When I was in the Navy, my junior sailors would blow all the money they made on deployment on shitty cars and strippers. Maybe instead of just cutting a $20K check, perhaps an account that allows certain purchases. Like here is $20K, it is pre-authorized to use it to pay for tuition for a college or trade school. Pre-authorized for medical expenses. And perhaps other things, but you can't exactly go out and blow it on cars and strippers. Then perhaps with a, if you don't use it by 25, you can roll it into your 401K?
- throwaway92700 3y ago
  Please note that in Spain, healthcare is free, and so is college for the most part, just like most of Europe.

goodbyesf 3y ago

Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K. The only downside is that it would collapse the war machine since no 18 year old will sign up for the military.

lotsoweiners 3y ago
Aren’t we currently experiencing inflation at least partially due to government stimulus handouts during Covid? I know there are multiple causes but free money certainly didn’t help. Also, I think it is a good idea to keep government programs means tested and separate. If you give people 20k, the number of people who should be feeding their kids with the money but instead bought “new rims” for their 2007 Honda Civic is going to be much greater than zero.
- admax88qqq 3y ago
  The problem is most means tested programs end up as poverty traps where people avoid making more money productively so they don't lose their welfare or disability.
xsmasher 3y ago
Some people are not equipped to handle that responsibly. They'll promise it to rent-a-center in perpetuity and still be hungry halfway through the month.
JimtheCoder 3y ago
"Why not 20K every year? Get rid of all government programs ( welfare, healthchare, social security, etc ) and replace it with a universal yearly $20K." Because next election cycle, some politician will set themselves apart by promising the 20k, plus a supplement for healthcare...and the whole circus begins again...
pcurve 3y ago
"welfare, healthchare, social security, etc" Healthcare: Some people get unlucky with genetic lottery and will require far more cost in care than others. Some type of universal coverage still needs to exist imho. Social security: Unfortunately, not everyone is good with money. Social security is a mechanism for balancing out and restributing wealth, but it's also an investing service for those who don't know how to. I'm not against some type of UBI, but there are some downsides with getting rid of existing programs. imho.

onlyrealcuzzo 3y ago

That's just debt, which everyone in the West is already swimming in.

germandiago 3y ago

As a spanish who pays 47% PIT and a ton more taxes including 21% VAT, tax for having a property (only one!) and that I see how much money is wasted on top of a 113% official GDP debt... and I can tell you tjat to pay what I pay you do not need to make even 80,000 eur/year. Who do you propose it should pay those 20,000? This woman, who talks to people as if they were 10 yo or less, said "the rich people". Do you know how much of that proposal you can pay with "the rich" in Spain? Very little. And by very little I mean not even 5% of that, probably less (I did not make the exact numbers but I am pretty sure it won't go beyond that). If you knew politicians, especially spanish politicians, you should know that the only thing they want is more money controlled through their hands. You know why, right? We all know it... Every spanish has 35,000 eur debt right now. A great idea, yes... to charge pwople that did not ask you with more debt til services collapse.

throwaway92700 3y ago
You do not pay 47% income tax in Spain. You may pay 47% marginal income tax (only for income above 60k EUR).
deleted 3y ago
[deleted]
downWidOutaFite 3y ago
Eres us spaniard no un spanish. No sé porque pero el inglés no es racional.
- horsawlarway 3y ago
  "as a spanish person" would have worked. Basically - spanish isn't a noun it's an adjective, it describes a property of a noun (ex: Spanish language, Spanish Car, Spanish food, Spanish person etc...). The oddity is that we also treat "spanish" as the proper name of a language. So "Speaking spanish" and "Speaking the spanish language" are interchangeable. But no disagreement at all that english isn't rational. As an aside, it's a perfectly understandable comment, it just identifies the person as non-native english speaking.
- 3y ago

layer8 3y ago

The problem is, many people would just take a 10-year loan at 20 since they know they’ll receive the €20K at 30. There’ll be a whole industry springing up around that.

sublinear 3y ago
It's almost like stimulus doesn't really work.
- Eldt 3y ago
  If stimulus is people spending their money in the marketplace to meet their needs, I'd say it works quite well
  - sublinear 3y ago
    > their money Broke people immediately spending the money they got from the government... That's everyone else's money.

c22 3y ago

There's no guarantee you'll be wise enough when you're thirty. Better idea: give them a couple grand at eighteen so they learn an early life lesson about windfalls, then give them the rest at thirty.