Swiss to vote on basic income benefit

[SunsetBengal]

Pretty good read, not sure if I feel like it is a good idea.

http://www.msn.com/en-us/money/markets/global-first-every-swiss-could-be-guaranteed-dollar2600-a-month-tax-free/ar-BBsFZLq?ocid=spartandhp

Quote:On June 5, Swiss voters will weigh in on a radical proposal that would mandate the government to guarantee $2,600 a month tax-free to every adult citizen and legal resident, and $650 to each child.

The payment would be provided to everyone, regardless of work status, income level, or wealth. It is a benefit few countries can afford. But then, Switzerland is among the world's richest nations, with a per capita income of about $85,000, 40% higher than that in the USA.

The idea of an unconditional basic income is not new. It is being discussed by various cities in the Netherlands, Finland, Canada, New Zealand and other nations. But Switzerland is the first country to actually vote on a guaranteed income at the national level.

[Belsnickel]

(05-05-2016, 07:53 PM)SunsetBengal Wrote: Pretty good read, not sure if I feel like it is a good idea.

http://www.msn.com/en-us/money/markets/global-first-every-swiss-could-be-guaranteed-dollar2600-a-month-tax-free/ar-BBsFZLq?ocid=spartandhp

Tax free? Shit, I don't make that much after taxes.

[Benton]

The concept isn't a bad idea. For all the complaining people do over social services, there are some places where retailers wouldn't be able to stay in business if there was no social aide. I was the night manager at a grocery store in college. A quarter of our sales were WIC checks.

$2,600 sounds like a big chunk, but I don't know how that compares to their economy.

[SunsetBengal]

(05-05-2016, 10:31 PM)Benton Wrote: The concept isn't a bad idea. For all the complaining people do over social services, there are some places where retailers wouldn't be able to stay in business if there was no social aide. I was the night manager at a grocery store in college. A quarter of our sales were WIC checks.

$2,600 sounds like a big chunk, but I don't know how that compares to their economy.

That is for each adult, each child would also get $650/mo.  That makes $6500/mo. for a typical family of 4.  For those making above that, up to that amount is tax free..  That Nation must be wicked rich to be able to even consider that sort of hand out..

[Belsnickel]

(05-05-2016, 11:16 PM)SunsetBengal Wrote: That is for each adult, each child would also get $650/mo.  That makes $6500/mo. for a typical family of 4.  For those making above that, up to that amount is tax free..  That Nation must be wicked rich to be able to even consider that sort of hand out..

They have a very stable economy, one of the highest incomes per-capita in the world, very low unemployment, and they usually run a balanced budget in recent years, actually reducing their public debt.

[GMDino]

(05-05-2016, 11:31 PM)Belsnickel Wrote: They have a very stable economy, one of the highest incomes per-capita in the world, very low unemployment, and they usually run a balanced budget in recent years, actually reducing their public debt.

Without a giant military budget?  How is it possible?!?!?

[Benton]

(05-05-2016, 11:16 PM)SunsetBengal Wrote: That is for each adult, each child would also get $650/mo.  That makes $6500/mo. for a typical family of 4.  For those making above that, up to that amount is tax free..  That Nation must be wicked rich to be able to even consider that sort of hand out..

http://taxfoundation.org/blog/how-scandinavian-countries-pay-their-government-spending

They tax fairly heavily, which shouldn't be a big surprise. The big thing though is they don't have the loopholes we do here. In Sweden, everyone pays taxes. In the U.S., it's only the middle class.

[Belsnickel]

(05-05-2016, 11:36 PM)Benton Wrote: http://taxfoundation.org/blog/how-scandinavian-countries-pay-their-government-spending

They tax fairly heavily, which shouldn't be a big surprise. The big thing though is they don't have the loopholes we do here. In Sweden, everyone pays taxes. In the U.S., it's only the middle class.

Swiss are from Switzerland, not Sweden.

Interestingly enough, tax revenue as a percentage of GDP in Switzerland is pretty similar to here in the US.

[Sociopathicsteelerfan]

(05-05-2016, 11:33 PM)GMDino Wrote: Without a giant military budget?  How is it possible?!?!?

I'm going to guess that it's because other nations with massive military budgets guarantee their safety.

[Belsnickel]

(05-05-2016, 11:42 PM)Sociopathicsteelerfan Wrote: I'm going to guess that it's because other nations with massive military budgets guarantee their safety.

Mostly because of their place in the world economy. Because of the historic neutrality and status as a keeper of treasure, Switzerland enjoys a rather unique status amongst nations. It really is interesting.

[SunsetBengal]

(05-05-2016, 11:36 PM)Benton Wrote: http://taxfoundation.org/blog/how-scandinavian-countries-pay-their-government-spending

They tax fairly heavily, which shouldn't be a big surprise. The big thing though is they don't have the loopholes we do here. In Sweden, everyone pays taxes. In the U.S., it's only the middle class.

Yeah, that's some wicked high taxation they got going on over there.. 

[*michaelsean*]

So a family of 4 gets $78,000 tax free for just waking up every morning? I'm in.

[fredtoast]

What a scam, they brag about bing neutral in every conflict yet they build their economy on military weapons.

[Belsnickel]

(05-05-2016, 11:45 PM)SunsetBengal Wrote: Yeah, that's some wicked high taxation they got going on over there.. 

Actually, Switzerland's taxes aren't all that high. Switzerland doesn't engage in Nordic Socialism and not being part of the EU it gets to keep out of that. There are a lot of unique things that allow Switzerland to do this.

[Arturo Bandini]

Finland also think to do that. It will help people to do what they like in life. It's huge.

[Au165]

If everyone is $2,600 a month richer then no one is $2,600 a month richer. On second thought, it may not create inflation at a rate to offset. Still not sure I like the idea of paying people a living wage not to work.

[SunsetBengal]

(05-06-2016, 09:32 AM)Belsnickel Wrote: Actually, Switzerland's taxes aren't all that high. Switzerland doesn't engage in Nordic Socialism and not being part of the EU it gets to keep out of that. There are a lot of unique things that allow Switzerland to do this.

When I looked up their taxation rate, it begins at 31%, and tops out at 56%.  Seems kind of high to me.  This proposal would dramatically reduce tax revenue generated, by making the first $2600/mo., for an adult tax free income.  I wonder how long it would take the Swiss government to go from balanced/surplus budget, to fall into a deficit?

[*michaelsean*]

(05-06-2016, 10:47 AM)SunsetBengal Wrote: When I looked up their taxation rate, it begins at 31%, and tops out at 56%.  Seems kind of high to me.  This proposal would dramatically reduce tax revenue generated, by making the first $2600/mo., for an adult tax free income.  I wonder how long it would take the Swiss government to go from balanced/surplus budget, to fall into a deficit?

It's not making the first $2600 per adult tax free, it's giving every adult $2600 tax free every month.

[*michaelsean*]

Quote:The initiative was put on the ballot by a group of artists, writers and intellectuals

Now I get it. People who are actually not talented enough to make a living at their craft, making it a hobby, want to be paid to do it.

[SunsetBengal]

(05-06-2016, 10:51 AM)michaelsean Wrote: It's not making the first $2600 per adult tax free, it's giving every adult $2600 tax free every month.

Are you sure about that?  It does say that, toward the beginning of the article.  However, when you read on into the article, it clearly states a few situational examples;  For someone with no income at all, they would receive the full benefit of $2600/mo., if a person were already making $1600/mo., they would receive $1000 each month.  And a person, for example that makes $6500/mo. would receive no cash benefit, other than the break of their first $2600 of monthly income being tax free.