For and Against The Basic Income (an in-depth debate)

Resources for debate

Vocab:

means tested (you have to prove you’re poor)

gaining traction (becoming more acceptable)

precariat (middle class but in danger of becoming poor)

poverty trap (poor because poor because poor)

to counter (to try to solve, resist)

property ladder (the financial advantages of owning a house)

to cut it (to be good enough)

pilot (an experimental program)

plug the holes (fix problems)

printed money (money created to stimulate the economy – doesn’t come from any real productive activity)

pie in the sky (a utopian, usually foolish idea)

Before listening, write F if these are arguments for and A if against the basic income idea:

answer to unemployment problems

decreased productivity

support demand

no incentive to work

fewer people paying taxes

creates social stability

makes it easier for people to engage with their community

would lead the state to dominate the economy

would lead the state to borrow even more from banks

security comes from hard work and owning a house more than steady income
A basic income might work in a medieval society

People who have basic income actually work harder

Housing is not security

lack of housing supply is a deliberate tactic used by politicians

Government stimulus is not good long-term for the economy

The governments already subsidise the rich and the middle class with tax cuts and credits

It is unachievable in the current finance system

It will help raise wages

lack of affordable housing is the real problem

Why give money to people who don't need it?

It guarantees no one misses out on security

It's too hard to decide who deserves state support

It can be paid for by taxing the rich at a higher rate

The system will be too complicated

It's more important to fix the financial and tax system

It will create an inflationary effect (wages, prices etc)

Raising wages is not the main cause of inflation

Inflation can be controlled by the central bank

It will lead to more corruption between the state and the banks

It won't be inflationary if we pay for it with money we already have

We have made radical changes before and they work

Watch:

For and Against the Basic Income

_______________

Check

answer to unemployment problems  F

decreased productivity  A

support demand  F

no incentive to work  A

fewer people paying taxes  A

creates social stability  F

makes it easier for people to engage with their community  F

would lead the state to dominate the economy  A

would lead the state to borrow even more from banks  A

security comes from hard work and owning a house more than steady income A

A basic income might work in a medieval society  A

People who have basic income actually work harder  F

Housing is not security  F

lack of housing supply is a deliberate tactic used by politicians  A

Government stimulus is not good long-term for the economy  A

The governments already subsidise the rich and the middle class with tax cuts and credits  F

It is unachievable in the current finance system  A

It will help raise wages  F

lack of affordable housing is the real problem  A

Why give money to people who don't need it?  A

It guarantees no one misses out on security  F

It's too hard to decide who deserves state support  F

It can be paid for by taxing the rich at a higher rate  F

The system will be too complicated  A

It's more important to fix the financial and tax system  A

It will create an inflationary effect (wages, prices etc)  A

Raising wages is not the main cause of inflation  F

Inflation can be controlled by the central bank  F

It will lead to more corruption between the state and the banks  A

It won't be inflationary if we pay for it with money we already have  F

We have made radical changes before and they work  F

After listening, discuss:

Which side won the debate, For or Against?