Spanish labor minister wants to provide €20,000 to every young Spaniard upon reaching...

[Alfonso Maruccia]

Forward-looking: Spain will hold a vote on July 23, and Yolanda Díaz, the woman aspiring to become the country's first female prime minister, is prepared for a fight. Díaz has put forward an exceptionally progressive political agenda, which involves a contentious universal payment aimed at providing young people with the necessary funds for pursuing their education or starting a new business.

Yolanda Díaz is currently Spain's labor minister. She was raised in a communist household, and her vision for the future of the country reflects her strong left-wing ideals. As the leader of a new progressive platform named Sumar, she is preparing for the upcoming general elections and believes every young Spaniard should have enough money to shape their own future, regardless of their family background.

The idea, which would be considered highly implausible in US politics and is even controversial in the most progressive European countries, proposes granting every young Spaniard a "universal inheritance" of €20,000. Payments would start at the age of 18 and continue until the age of 23. In addition to the monetary support, Spanish youths would receive administrative assistance to pursue higher education, vocational training, or embark on entrepreneurial endeavors.

The inheritance would be provided regardless of family income at an estimated cost of approximately €10 billion, or 0.8 percent of Spain's GDP.

Díaz mentioned her childhood dream of becoming an "employment inspector," but was unable to achieve her dream because she had working-class parents and no substantial "inheritance." Sumar's universal inheritance has been conceived as a redistributive measure, Díaz said.

The additional cost to implement the program would be funded through taxation on wealthy individuals earning a yearly income of more than €3 million. To date, the proposal has gained very little support from either side of Spain's political spectrum.

Nadia Calviño, economy minister of the socialist-led coalition government Díaz is also part of, said a universal payment for all Spaniards couldn't work without some kind of income-related restrictions. Calviño emphasized the need for Spain to maintain a responsible fiscal policy in the years ahead, which may present challenges in aligning with Sumar's proposal.

The conservative People's Party (PP), which aims to regain control of Spain's government by forging an alliance with the far-right party Vox after the elections, is rejecting the universal inheritance. A PP spokesperson said Sumar has misplaced priorities, and that Spain has much more serious issues to deal with like the growing risk of social exclusion for a substantial part of the population and the highest unemployment rate in Europe.

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https://www.techspot.com/news/99320-spanish-labor-minister-wants-provide-20000-every-young.html

 

[VaRmeNsI]

One cannot truly appreciate something unless they have earned it.

 

[yRaz]

They should do what my work does with my annuity. It's handled by a trust and we can't touch it unless we're out of work for 6 months or until we hit 55.

 

[ScottSoapbox]

The irony.

Without free money I wasn’t able to become a low level government bureaucrat - only prime minister.

 

[m4a4]

Aaaand, how much debt is Spain in right now?

 

[ScottSoapbox]

Even if you assume this money will come from the rich (rather than working professionals that bear most taxes), you are taking €10 billion of sales away from the businesses they would use (e.g., restaurants, car manufacturers, lawn service people, etc.) and giving it to 18 year olds to start businesses (youtube camera equipment companies will likely do well) which will likely fail (not all but most) resulting in fewer jobs for servers, assembly line workers, lawn care employees in exchange for the youth to learn how hard it is to start a business. Not a great trade for society.

The alternative extra government money for school just increases the cost of school because the students can now afford more. (See US universities' response to every change in student loans over the years.) And that extra money will just go to more administration, not more or better faculty, as it always does. So in this case the trade is fewer jobs for servers, assembly line workers, lawn care employees in exchange for youth to get the same education with more associate deans of whatever sounds good working in the background. An even worse trade for society.

 

[VitalyT]

They'll be just smoking weed every day, I'm telling ya! The dumbest idea. Why not just offset college payments?

 

[PEnnn]

Funny. No one from the usual whiners would dare say a word when the US throws trillions (and its tax payers' money) at the rich in huge tax cuts every 4-6 years!!

Typical.

 

[DixieFatline]

I logged in to comment on this because it is the most stupid thing I have read for a long time on this here internet. ********** I hate living in socialist Europe so much.

 

[Seong]

Giving billions of dollars to people that are not productive. This is a textbook cause of massive inflation. Same problem with hiring government workers that do not build housing, produce food, nor manufacture anything.

 

[Seong]

I logged in to comment on this because it is the most stupid thing I have read for a long time on this here internet. ********** I hate living in socialist Europe so much.

Europe supposedly has diversity. And yet every country has the same failed 20 percent plus sales taxes. Go to New Hampshire. No sales taxes, no income taxes. Each state in the US can be different from the others. Think different.

 

[Alfonso Maruccia]

I logged in to comment on this because it is the most stupid thing I have read for a long time on this here internet. ********** I hate living in socialist Europe so much.

Well, I don't.

When I need to see my family doctor, he usually gives me some drugs I mostly pay nothing for. The three COVID-19 vaccinations were free. When I called an ambulance in the heart of the night because I wasn't able to breathe without feeling unbearable pain in my back, they gave me a strong painkiller shot and I paid absolutely nothing for the service. Or better still: I paid all these things and then some with both my direct and indirect taxes.

I don't want to argue too much, considering my "Staff" role, but It's definitely funny when people talk about "socialist" Europe, even though my country is (unfortunately) being governed by a post-fascist party right now.

If this is "socialism", I'd like to have a lot more socialism in my life. Thanks.

 

[Seong]

Well, I don't.

When I need to see my family doctor, he usually gives me some drugs I mostly pay nothing for. The three COVID-19 vaccinations were free. When I called an ambulance in the heart of the night because I wasn't able to breath without feeling unbearable pain in my back, they gave me a strong painkiller shot and I paid absolutely nothing for the service. Or better still: I paid all these things and then some with both my direct and indirect taxes.

I don't want to argue too much, considering my "Staff" role, but It's definitely funny when people talk about "socialist" Europe, even though my country is (unfortunately) been governed by a post-fascist party right now.

If this is "socialism", I'd like to have a lot more socialism in my life. Thanks.

Covid vaccinations were free in the US. Every person in Washington state is insured for free if they are low income, or retired age. Free healthcare here too. You can have smart government policies, if you don't waste all your money. You can have double the income, and free healthcare, and low taxes.

What you can't have is FREE MONEY, ie just giving billions of dollars away to people to buy consumer goods, when they are not productive workers.

 

[Dimitriid]

Ah yes Universal Basic Income otherwise known as UBI: This is basically just capitalist just doing everything short of admitting that capitalism isn't viable and that there's just so much wealth accumulation there literally is no way of corporations to keep growing since they basically have all of the damn money and control of all of the economy already.

Seriously it will lack the socialist undertones and theory but the end result will be the same principle: Wealth redistribution. UBI will be needed to avoid most economies from collapsing in the pretty immediate future and UBI cannot be just funded out of nothing, it has to be funded by taxing the wealthy so it will be at first predatory practices by the billionaires to tax the millionaires (Which are now considered small-to-medium businesses and their owners) into putting more wealth back into the economy just so people can actually spend money into the economy once more, but even that won't help for long eventually the tax brackets will have to reach the billionaires, they will have to close down tax havens and break up monopolies to support a ballooning UBI program.

Well this is what would happen over the course of the next several decades under normal circumstances but we're not experiencing normal circumstances we're on the verge if not already unable to stop complete environmental collapse anyway.

 

[Alfonso Maruccia]

You can have smart government policies, if you don't waste all your money. You can have double the income, and free healthcare, and low taxes.

No you can't. Everything I read about the US, every day, on every media site, is terrifying. Not just upsetting. Terrifying. Many years ago, I was dreaming about visiting some of those dreamy American locations I saw in movies. Today, I just want to stay away for the rest of my life.

Oh, and I want free money too, at this point. Because the very concept of "money" has been corrupted, perverted and exploited in such a way that is now officially a tool for slavery, not empowerment, of human beings.

I'm not communist, btw. Far from it. I've just had enough of this game.

 

[wiyosaya]

Funny. No one from the usual whiners would dare say a word when the US throws trillions (and its tax payers' money) at the rich in huge tax cuts very 4-6 years!!

Typical.

Yes, absolutely. Instead, they just chant Trump, Trump, Trump. MAGA, MAGA, MAGA as the country goes even more in debt by filling the coffers of those who need it least with the tax dollars of those who can least afford the taxes.

IMO, you really should have added the "Oh the Irony" comment from above to your comment.

 

[Uncle Al]

It has some good points but I think it would be more beneficial if it was a stipend to be paid to the educational facility of the individuals choice encouraging attendance at a college or trade school. Acceptance with the union training program would also be highly beneficial AND more advanced trade schools like those in IT, robotics and other advanced topic's need to be developed immediately.

 

[wiyosaya]

Giving billions of dollars to people that are not productive. This is a textbook cause of massive inflation. Same problem with hiring government workers that do not build housing, produce food, nor manufacture anything.

And you comment not knowing how it will be used. I guess you must employ a great psychic.

 

[wiyosaya]

It has some good points but I think it would be more beneficial if it was a stipend to be paid to the educational facility of the individuals choice encouraging attendance at a college or trade school. Acceptance with the union training program would also be highly beneficial AND more advanced trade schools like those in IT, robotics and other advanced topic's need to be developed immediately.

In other words, just keep feeding the machine rather than letting those who receive it be as creative as they can be? I don't agree.

 

[Kam7r]

No you can't. Everything I read about the US, every day, on every media site, is terrifying. Not just upsetting. Terrifying. Many years ago, I was dreaming about visiting some of those dreamy American locations I saw in movies. Today, I just want to stay away for the rest of my life.

Oh, and I want free money too, at this point. Because the very concept of "money" has been corrupted, perverted and exploited in such a way that is now officially a tool for slavery, not empowerment, of human beings.

I'm not communist, btw. Far from it. I've just had enough of this game.

I see we have the same opinions

 

[McMurdeR]

If there was a way to ensure that the money was managed via third level education, apprenticeships and/or some kind assisted business start-up scheme, it's actually not a bad shout.
A highly skilled young workforce can contribute to domestic development and also attract foreign investment.

 

[McMurdeR]

Ah yes Universal Basic Income otherwise known as UBI: This is basically just capitalist just doing everything short of admitting that capitalism isn't viable and that there's just so much wealth accumulation there literally is no way of corporations to keep growing since they basically have all of the damn money and control of all of the economy already.

Seriously it will lack the socialist undertones and theory but the end result will be the same principle: Wealth redistribution. UBI will be needed to avoid most economies from collapsing in the pretty immediate future and UBI cannot be just funded out of nothing, it has to be funded by taxing the wealthy so it will be at first predatory practices by the billionaires to tax the millionaires (Which are now considered small-to-medium businesses and their owners) into putting more wealth back into the economy just so people can actually spend money into the economy once more, but even that won't help for long eventually the tax brackets will have to reach the billionaires, they will have to close down tax havens and break up monopolies to support a ballooning UBI program.

Well this is what would happen over the course of the next several decades under normal circumstances but we're not experiencing normal circumstances we're on the verge if not already unable to stop complete environmental collapse anyway.

I actually agree with that expect on one point - true capitalism can work, and work well, when money is redistributed. As it stands there is far too large a proportion of wealth tied up with a small minority. But it's not just capitalist nations, even Russia, China and the middle East are all at it too.. The wealth gap between the few rich and the many poor is critically wide. It doesn't matter whether it's tax breaks for the rich, the Party or the Oligarchy, it's the same result. It never ends well.

 

[sheady]

Why is this article on techspot? what does it have to do with the tech industry?

 

[kiwigraeme]

Why is this article on techspot? what does it have to do with the tech industry?

Suppose just to keep us busy over the weekend - I suppose technically managing an economy machine
all tech stuff has a human element - this pretty much 100% human - with an invented tool called money

My take - the is the truth between complete waste and good is somewhere in the middle

A wrong comment about money not being productive - 95% will come straight back into economy or near by tourist places - anyway more than giving huge tax breaks to rich

USA is very poor on avoidable deaths in health care

More targeted money like to poor solo parents - generally shows most goes to benefit of family kids - yet extremest say it just goes to drugs, smokes, alcohol and gambling - ie poor parents are evil BS
Thing is they really want that to be true and believe it - really weird people - those filled with hate - they need enemies , hate , anger

 

[toooooot]

Ah yes Universal Basic Income otherwise known as UBI: This is basically just capitalist just doing everything short of admitting that capitalism isn't viable and that there's just so much wealth accumulation there literally is no way of corporations to keep growing since they basically have all of the damn money and control of all of the economy already.

Seriously it will lack the socialist undertones and theory but the end result will be the same principle: Wealth redistribution. UBI will be needed to avoid most economies from collapsing in the pretty immediate future and UBI cannot be just funded out of nothing, it has to be funded by taxing the wealthy so it will be at first predatory practices by the billionaires to tax the millionaires (Which are now considered small-to-medium businesses and their owners) into putting more wealth back into the economy just so people can actually spend money into the economy once more, but even that won't help for long eventually the tax brackets will have to reach the billionaires, they will have to close down tax havens and break up monopolies to support a ballooning UBI program.

Well this is what would happen over the course of the next several decades under normal circumstances but we're not experiencing normal circumstances we're on the verge if not already unable to stop complete environmental collapse anyway.

We had so many crisis predictions. One more should not hurt much, should it?