News South Africa planning to roll out Universal Basic Income

[クーロ]

South Africa could be the first-ever country to provide a no-strings-attached universal basic income

The African National Congress said it would create a national universal-basic-income program within the next two years.

www.businessinsider.com

ANC STATEMENT: ENSURING UNIVERSAL AND ADEQUATELY FUNDED BASIC INCOME SUPPORT GRANT – ANC

www.anc1912.org.za

They plan to fund it with higher tax and conveniently announced it right after losing their majority in the latest elections kek. They already had welfare going for the poorest people but now it'll apply to all adults. NEETcels are winning, I take back what I said about third worlders never getting to experience it. According to the announcement it should come in 2 years but this party is known to be full of liars

 

[クーロ]

@WestEuropoor JFL react

 

[Saladino]

Nigga fucks cumskin bux

 

[WestEuropoor]

@WestEuropoor JFL reactView attachment 137298

 

[Lain]

South Africa could be the first-ever country to provide a no-strings-attached universal basic income

The African National Congress said it would create a national universal-basic-income program within the next two years.

www.businessinsider.com

ANC STATEMENT: ENSURING UNIVERSAL AND ADEQUATELY FUNDED BASIC INCOME SUPPORT GRANT – ANC

www.anc1912.org.za

They plan to fund it with higher tax and conveniently announced it right after losing their majority in the latest elections kek. They already had welfare going for the poorest people but now it'll apply to all adults. NEETcels are winning, I take back what I said about third worlders never getting to experience it. According to the announcement it should come in 2 years but this party is known to be full of liars

This will surely be a good idea and lead to long term prosperity.

 

[Brother Wagecuck]

interdasting. any south african neets here?

 

[クーロ]

This will surely be a good idea and lead to long term prosperity.

Can't tell if you're being sarcastic
If you are, I agree somewhat. It'd be more sustainable to provide UBI using the country's uranium sales or other state-owned business instead of tax because the country is extremely unequal and only about 10 or 20 percent of them are actually paying taxes lmao. Anything more and they'll opt out

 

[fries]

Can't tell if you're being sarcastic
If you are, I agree somewhat. It'd be more sustainable to provide UBI using the country's uranium sales or other state-owned business instead of tax because the country is extremely unequal and only about 10 or 20 percent of them are actually paying taxes lmao. Anything more and they'll opt out

Bottom feeder rightoids can't do sarcasm, they still live in the 2015 headspace of "the marketplace of ideas"
Don't expect anything beyond muh gibbs muh niggers in this thread lol

 

[Lain]

Can't tell if you're being sarcastic
If you are, I agree somewhat. It'd be more sustainable to provide UBI using the country's uranium sales or other state-owned business instead of tax because the country is extremely unequal and only about 10 or 20 percent of them are actually paying taxes lmao. Anything more and they'll opt out

I'm being sarcastic. It's a nice idea in theory but giving every impoverished nigger neetbux or some type of gibs has been tried in a lot of countries and it pretty much always fails because the system isn't set up to handle it. In Western countries, most people work and are productive, a small amount siphoned away to the most unproductive members of society and to feed the poor is a clear net positive for societal growth.

Giving money to a massive chunk of your population will increase demand and lower supply for a large number of items, the wealthy elites that do pay taxes will have more of a financial incentive to not pay them, leading to less taxes for the state. Dwindling tax revenue and a populace used to getting money by the state is a terrible, terrible idea.

You only have to look at Venezuela as an example of what happens when you give away so much "free" things in exchange for votes, it only works for a little while. Latin America is full of countries that have taken this route and failed miserably. If only 10-20% of the elites are paying taxes, it's because the system is too overbearing and/or too easy to manipulate for their benefit. Making these elites cough up some cash by modifying policies and giving them incentives to do so and implementing more free market policies would be better.

UBI does not work in a world of scarcity. I do believe later in the 21st or 22nd century UBI will become a mainstream thing in most societies but it's still too early for it and I hold zero faith in South African economists ability to make this work.

 

[Lain]

Less supply means higher inflation which means less trust in investing in assets in the country. Businesses move locations to better suited countries, South Africans invest in foreign stocks or assets, it's just not a good idea. I'd like to be proven wrong on this, we'll see if it comes how it changes their society. It'll be a good case study regardless of how it turns out.

 

[クーロ]

Less supply means higher inflation which means less trust in investing in assets in the country. Businesses move locations to better suited countries, South Africans invest in foreign stocks or assets, it's just not a good idea. I'd like to be proven wrong on this, we'll see if it comes how it changes their society. It'll be a good case study regardless of how it turns out.

I generally agree with what you're saying but still hopeful because South Africa is the only country in that shit hole continent designated as industrialised and has the ability to keep up with these demands. They picked this timing for the announcement because they're forming a coalition with the DA which is a business friendly party that plans to promote private investments and other political jargon I don't understand. It's still very risky considering most South Africans already live off welfare and it hasn't done much for them but it should at least alleviate the problem for now. The country as a whole is rich, just unequal. UBI would boost the number of consumers and that should keep private companies afloat long enough. There were already a few attempts at UBI in Kenya and Namibia and they yielded good results but were only tested at a small-scale in villages. Most of South Africa is dense urban cities with 10m+ people so it's very different lol. We will see what happens though. Imagine Africa being the first place where UBI is implemented formally topkek

 

[c-barreda]

We are gaining territory

 

[lifesucksandyoudie]

Nixon's administration did a trial run of UBI before.

The bizarre tale of President Nixon and his basic income bill

In 1969 President Richard Nixon was on the verge of implementing a basic income for poor families in America. It promised to be a revolutionary step – had the President not changed his mind at the last minute. This is the incredible and largely forgotten tale of just how close the U.S. came to...

thecorrespondent.com

The results showed some promise but failed to gain enough traction for legislation. South Africa is in a very different set of conditions so UBI wouldn't work out as beneficially. Nevertheless, I think in societies with political and economic systems that are better equipped to handle the stresses required by UBI, it's not necessarily a totally bad idea. But to make UBI feasible, welfare reform is obviously a priority first. And any country with an already inadequate social security and welfare system shouldn't try to implement UBI until they fix the basics needed as a foundation for the policy in the first place. An already preexisting robust welfare system works better as a bedrock to build UBI off.

 

[Lucillian]

They gonna get the money by begging the white countries for money.

 

[クーロ]

They gonna get the money by begging the white countries for money.

South Africa can sustain itself financially and most taxpayers are middle class blacks from cities like Johannesburg because the white elites already left (at least most of them). You can't run a UBI program while relying on foreign aid. South Africa isn't like Nigeria or west African states that constantly need the UN to intervene or fund their governments with donations lol they have plenty of state-owned businesses that make enough to keep them afloat. If not with tax they'll fund it with natural resource revenue. Not to hype it up (it's a total shithole) but they're doing better than most of the continent despite all the problems