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by jarym 3438 days ago
Go back to 1950s USA where average annual salary was just over $3000 - if I told you back then I'd give you $500 a month - almost twice the average salary where do you think we'd all be now? Would we be even here?

Now take your $500 a month and project forward another 50-60 years. What do you think it'll buy you then and why?

By picking a monetary amount - be it $50, $500 or $1000 it IS absolutely making a determination about what's basic. And its doing it based on the living standards and cost of living of today. That's a large part of why its so flawed.

2 comments

It seems to me it'd have to be specified as a formula based on the "poverty threshold" and "inflation." I really can't imagine just throwing out a number and expecting it to be unchanged for decades.
The precise amount will not be enshrined in the constitution. It will be most likely adjusted periodically to ensure subsistence without removing the motivation to work.