4 ms·

I actually have to say I don't entirely understand the underlying facts on this issue. I'm not against the idea, but like all policies they are blunt instrumen

I actually have to say I don't entirely understand the underlying facts on this issue. I'm not against the idea, but like all policies they are blunt instruments. Is there a real problem that has to be solved here, or will too many needy folks get caught up in the beurocracy? Do these jobs even exist?

toomuchtodo 1y ago
It’s to create indentured servants for the capital class, due to structural labor shortages that will persist into the future due to compressing working age populations and a rapidly falling total fertility rate. Reducing social service spending also reduces federal expenditures that can lead to a reduction in federal income tax demand from the wealthy (this makes room for wealthy tax cuts). Roughly speaking, the top 40% of income earners have a federal tax liability and the bottom 60% don’t. Where do profits and growth come from? Workers, in the aggregate. https://usafacts.org/government-spending/ https://usafacts.org/government-spending/ https://www.mckinsey.com/mgi/our-research/dependency-and-depopulation-confronting-the-consequences-of-a-new-demographic-reality https://www.mckinsey.com/mgi/our-research/dependency-and-dep... https://www.cato.org/cato-journal/spring/summer-2018/demographics-their-implications-economy-policy#demographic-implications-for-economic-growth https://www.cato.org/cato-journal/spring/summer-2018/demogra... https://www.cato.org/cato-journal/spring/summer-2018/demographics-their-implications-economy-policy#conclusion https://www.cato.org/cato-journal/spring/summer-2018/demogra... https://ourworldindata.org/grapher/children-born-per-woman https://ourworldindata.org/grapher/children-born-per-woman https://hn.algolia.com/?dateRange=all&page=0&prefix=true&query=toomuchtodo%20labor%20shortages&sort=byDate&type=comment https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que... https://hn.algolia.com/?dateRange=all&page=0&prefix=false&query=labor%20shortages&sort=byDate&type=story https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...
mitchbob 1y ago
Structural unemployment is real and built into the USA's economic system. Controlling inflation is a higher priority than full employment. There are more people than jobs, and advances in automation, AI, and robotics will only make this worse. We need a plan that recognizes this and that provides the essentials of life for those who no longer have a place in the economy.

toomuchtodo 1y ago

It’s to create indentured servants for the capital class, due to structural labor shortages that will persist into the future due to compressing working age populations and a rapidly falling total fertility rate. Reducing social service spending also reduces federal expenditures that can lead to a reduction in federal income tax demand from the wealthy (this makes room for wealthy tax cuts). Roughly speaking, the top 40% of income earners have a federal tax liability and the bottom 60% don’t. Where do profits and growth come from? Workers, in the aggregate. https://usafacts.org/government-spending/ https://usafacts.org/government-spending/ https://www.mckinsey.com/mgi/our-research/dependency-and-depopulation-confronting-the-consequences-of-a-new-demographic-reality https://www.mckinsey.com/mgi/our-research/dependency-and-dep... https://www.cato.org/cato-journal/spring/summer-2018/demographics-their-implications-economy-policy#demographic-implications-for-economic-growth https://www.cato.org/cato-journal/spring/summer-2018/demogra... https://www.cato.org/cato-journal/spring/summer-2018/demographics-their-implications-economy-policy#conclusion https://www.cato.org/cato-journal/spring/summer-2018/demogra... https://ourworldindata.org/grapher/children-born-per-woman https://ourworldindata.org/grapher/children-born-per-woman https://hn.algolia.com/?dateRange=all&page=0&prefix=true&query=toomuchtodo%20labor%20shortages&sort=byDate&type=comment https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que... https://hn.algolia.com/?dateRange=all&page=0&prefix=false&query=labor%20shortages&sort=byDate&type=story https://hn.algolia.com/?dateRange=all&page=0&prefix=false&qu...

mitchbob 1y ago

Structural unemployment is real and built into the USA's economic system. Controlling inflation is a higher priority than full employment. There are more people than jobs, and advances in automation, AI, and robotics will only make this worse. We need a plan that recognizes this and that provides the essentials of life for those who no longer have a place in the economy.