Its a policy which consists in every citizen and legal resident has the right to have at least a minimum income (if they live independently of their progenitors, they have worked a really small minimum of time… and do not have a minimum of income, it is provided by the state). It could be a future addition. It would be cheaper than “Universal Basic Income”, which I currently think that is not expensive enough in the game, due to pay every citizen (independently of their wealth) an amount of money could result really expensive.
How is that different to unemployment benefits? Or is it supposed to be a super merger of minimum wage, unemployment benefits and a minimum pension?
Unemployment benefits are normally obtained after the worker has been working and paying to the State an amount of money who gives that person the right to request the unemployment benefit to the government, but this is just temporal and capped at a maximum of time (and could be less than that maximum which is capped at if he/she has not work enough).
Vital Minimum Income would be like a minimum for every citizen or legal resident who lives independently, and have worked at least a year… A minimum vital income provided by the State while that person does not have any other income. An addition to socialists and social-democratic playings…
That would be different to Universal Basic Income (which consists in the State pays an amount of money to every citizen or legal resident independently to their income) that as I mentioned would be much more expensive than is currently reflected in the game.
So, to see if I understand this properly.
After a year of working, and presumably paying taxes, the government will guarantee each citizen a minimum amount of income. Unlike a UBI which, taking Andrew Yang’s proposal, adds $12k to everyone’s income regardless of class, the Vital Minimum Income would guarantee each citizen at least $12k. However, if one were to get a job for, say, $30k, they’d no longer receive the VMI?
Yes, if we put, for instance, the limit in 12 k €/$ annually, (which could be even much less with a slider, due to is a minimum vital income… or more if desired by the player), and a person do not earn that, the State pays what is lacking to that person. In that example, a person earns 11.900 euros/US dollars per year and the State provide 100 euros/US dollars per year.
Would this perhaps be best explained via the National Insurance as seen in the UK? Where workers would pay into it throughout their career, at the same time their employer, and the state would match contributions, so that then they’d be able to cash out their National Insurance while unemployed?
Mmm, what you say are the contributions the employer and the employee do to the Social Security, in order to create a right for the worker, which is the unemployment benefit, and which is capped at a maximum of time. It only reaches that maxium if the worker has worked enough time.
When I play UBI seems to be pretty expensive. I would probably say it is fine.
Let us see an example of a proposal of Universal Basic Income.
Here we have the federal budget of the U.S. of 2019 (not including states and local governments, and the game currently looks like that include all governments…) (before Coronavirus pandemic), and we see that there were a revenue of 3.3 trillion US dollars per year and a expenditure of 4.4 trillion US dollars per year.
Here we have that Andrew Yang’s proposal of giving every adult citizen 1.320 US dollars per year, is estimated that would cost approximately 3 trillion US dollars per year. Having in mind that each turn in the game is a quarter, it means 750 billion US dollars per quarter. (It could vary with a slider, increasing or decreasing it).
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I knew this, although I haven’t seen this source despite being a hard core Yang Gang supporter. Thanks for the course. The question now is, is the price listed above approximately equivalent to what is in the game, or not?