Friday, September 8, 2017

Supplemental Security Income

The Future of technology & Robotics will be to replace Human labor at all levels where cost is lower. The  only safe low labor cost jobs will be where Humans will work for less income than it cost to build a robotic system to replace them.

That analysis will in fact apply to Jobs at all income levels that software can run robots and computer programs more efficiently than Humans  The necessity of establishing Unconditional Basic Income will be essential, unless we are prepared to eliminate excess people.

We already have Social Security paid from FICA taxes on wages that can be supplemented by a parallel program for the Disabled and the lowest income Social Security recipients. It is called Supplemental Security Income [SSI]. It is paid out of the General Tax Fund.  If we make the SSI program Unconditional for people over 62 without a Means Test and withdraw Medicare payments  from that program instead of Social Security payments, we will have the beginning of an Unconditional Basic Income system 

You automatically start drawing it at age 62. You can start drawing SS at whatever age older than 62 that you chose. The older you are - the bigger the check. Then you keep lowering the SSI check over time to  apply to all adult citizens  Doing is over time will moderate the effect on the Economy .

William Hodge