Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO
by ilamont on Monday October 21, 2019 @08:15AM
(#21311336)
They already do have a benefits system in place that includes cash payouts to low and middle income families, plus bonuses for state employees (70% of Saudi nationals), stipends for students, tax breaks on home purchases, etc.
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Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO
by mc32 on Monday October 21, 2019 @08:22AM
(#21311402)
Is it set up as a UBI and is it proving itself, will it remain sustainable?
Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO
by ilamont on Monday October 21, 2019 @08:39AM
(#21311558)
Honest question: Does it matter?
The current iteration is called the Citizen's Account program. But if it were called Saudi Basic Income, Saudi Social Security, or Saudi Protection Net, wouldn't the net impact be the same -- a scaled system of cash payouts for low and middle income citizens to support basic living expenses?
Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO
by w457uiw4gftyi on Monday October 21, 2019 @08:53AM
(#21311677)
The name might not matter but the post you responded to asked if it was set up as a Universal Basic Income, which does matter.
One of the claims UBI-backers make is the fact that giving everyone the same amount of money will be much simpler and require much less bureaucracy than income-based welfare schemes. So, I get my $1k this month, you get your $1k, the homeless guy under the bridge gets his $1k, Bill Gates gets his $1k, etc.
Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO
by lmm on Monday October 21, 2019 @08:53AM
(#21311687)
A reliable income that you're entitled to might lead to very different behaviour than a contingent programme.
Re:Saudi Aramco Is the WeWork of Energy with Pulled IPO
by LegitShady on Monday October 21, 2019 @09:20AM
(#21311919)
It matters so much.