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Doing The Numbers On Universal Basic Income

COLUMN • View from Fly Creek

Doing The Numbers On

Universal Basic Income

By ADRIAN KUZMINSKI • Special to www.AllOTSEGO.com

As the economic insecurity of a large segment of the country continues without relief (debts, taxes, low wages, health costs, education costs, etc.), some big new ideas (like the Green New Deal) are getting attention.

Andrew Yang and his T-shirts are becoming visible in Iowa,where the first caucuses of the 2020 presidential campaign will be held Tuesday, Feb. 3, 2020.

In my last column, I examined one of these big new ideas: the proposal for a universal basic income (UBI) put forth by presidential candidate Andrew Yang, who proposes to give every US citizen over 18 years of age $1,000 a month. He calls it the Freedom Dividend.

Yang argues that automation and robotics are relentlessly eliminating wage-labor jobs, hence the need for a UBI. He may be right. I speculated that a UBI might be paid out of corporate profits, but it turns out that that’s not where the money is.

To see how it can be funded, let’s do some math:

The current adult (18 plus) population of the U.S. is about 250 million people. Giving $12,000/year to each person would cost about $3 trillion. To put that in context, the federal budget is about $4 trillion/year, including $700 billion for the military, while total annual U.S. corporate profit is about $2 trillion/year in an economy of about $21 trillion.

The total net financial assets of American households, according to the Federal Reserve, are much greater than that. They add up to about $70 trillion. What are net financial assets? They include stocks, bonds, funds and other financial instruments. That’s where the money is.

The major asset for most Americans is their home. Net financial assets don’t include your personal property (your home, vehicles, furnishings, art, etc.); nor the debts you owe.

ONLINE Daily Newspaper Launched

ONLINE Daily Newspaper Launched

Editors with ink in their veins thrill at the news that traditional books are rebounding (10 percent as of mid-2018) and Kindle appears to have peaked, and is now declining (3.8 percent).

Happily, Otsego County’s newspapers – the 211-year-old Freeman’s Journal and Hometown Oneonta, now 10 years old – are stable, profitable and ever-striving to serve the reading public, and will continue to do so for the foreseeable future.

But www.AllOTSEGO.com is growing in leaps and bounds.

As of 5 p.m. Wednesday, Jan. 9, AllOTSEGO.com becomes Otsego County’s Daily Newspaper/ONLINE, with world and national news, crosswords and more.

Since implementing a new strategy Oct. 1 – when news happens, we post it – traffic, annualized, has grown 50 percent – 50 percent!  That’s 592,716 users, 1,867,988 sessions, and 2,957,100 page views – in a county of 60,094 people and 23,627 households.

So beginning today, we are relaunching www.AllOTSEGO.com as:  Otsego County’s Daily Newspaper/ONLINE, with the goal of giving readers everything you expect in a local newspaper, up to the minute and at your fingertips.

Effective at 5 p.m. Wednesday, Jan. 9, you can access all the breaking local news you now find on  www.AllOTSEGO.com, plus world and national news, and such features as a daily crossword, comics (including color comics on Sundays), horoscope and Dear Abby.

Plus, for the first time, you will find all the material that appears weekly in Hometown Oneonta & The Freeman’s Journal – hard news, features, editorials, columns, letters to the editor, obituaries, great photographs.  The works.

AllOTSEGO Reborn As ‘Otsego County’s Daily Newspaper/ONLINE’

AllOTSEGO Reborn As

‘Otsego County’s Daily

Newspaper/ONLINE’

Check Out World, National News,

Features Like Crossword, Dear Abby

Editors with ink in their veins thrill at the news that traditional books are rebounding (10 percent as of mid-2018) and Kindle appears to have peaked, and is now declining (3.8 percent).

Happily, Otsego County’s newspapers – the 211-year-old Freeman’s Journal and Hometown Oneonta, now 10 years old – are stable, profitable and ever-striving to serve the reading public, and will continue to do so for the foreseeable future.

But www.AllOTSEGO.com is growing in leaps and bounds.

Since implementing a new strategy Oct. 1 – you may have noticed: when news happens, we post it! – traffic, annualized, has grown 50 percent – 50 percent!  That’s 592,716 users, 1,867,988 sessions, and 2,957,100 page views – in a county of 60,094 people and 23,627 households.

So as of 5 p.m. today, we relaunched www.AllOTSEGO.com as:  Otsego County’s Daily Newspaper/ONLINE, with the goal of giving readers everything you expect in a local newspaper, up to the minute and at your fingertips.

Simple Integrity Plans Net-Zero Apartments: 2 Stories, 12 Units On Chestnut Street

Simple Integrity Plans

Net-Zero Apartments

2 Stories, 12 Units On Chestnut Street

By LIBBY CUDMORE • Special to www. AllOTSEGO.com

Josh Edmonds, principal in Simple Integrity builders, briefs the Cooperstown Village Board last evening on a net-zero 12-apartment building he is planning at 10 Chestnut St. in the village, next to the Inn at Cooperstown. “The village needs long-term rentals,” he told trustees at their monthly meeting. “And I see a need for more energy.” He was advised to take the plans to the Historical Preservation & Architectural Review Board (H-PARB) and the Planning Board. (Libby Cudmore/AllOTSEGO.com)

COOPERSTOWN – For Josh Edmonds, the lot at 10 Chestnut St. represents a chance to solve two problems in the village – adding housing and reducing energy consumption.

“The village needs long-term rentals,” he said. “And I see a need for more energy-efficient construction.”

Edmonds, a passive-house consultant through, Simple Integrity, his contracting company, has proposed a two-story, 12-unit building on the lot at 10 Chestnut St, next to the Inn at Cooperstown.

At the Village Board meeting on Tuesday, May 28, Edmonds revealed details about the proposed project:  12 two-bedroom units, with the six apartments on the first floor designated as handicap-accessible. There will also be 24 parking spaces.

Village Should Buy Former CVS, Make It Downtown Hub

EDITORIAL

Village Should Buy CVS,

Make It Downtown Hub

During New York History Day, a Rockland County family strolls past Cooperstown’s downtown CVS, once an anchor, but vacant since November 2017. (AllOTSEGO.com photo)

Editor’s Note:  This is reprinted from this week’s Freeman’s Journal and Hometown Oneonta editorial pages. Click here for related editorial.  What do you think? Letters to the Editor welcome at info@allotsego.com

In a couple of weeks, we won’t remember that Cooperstown’s Main Street is a ghost town from Columbus Day to Memorial Day.  The 500,000 visitors will begin arriving in earnest with Dreams Parks’ June 1 opening.

By the time we again become Coopers(ghost)town, the opportunity will have been lost.

The opportunity, of course, is 100 Main St., a gap in the village’s set of most perfect teeth since CVS moved to the southern edge of the village in November 2017 –yes, it’s almost been two years.

Auto Dealers Bullish As Showrooms Reopen

Auto Dealers Bullish

As Showrooms Reopen

With People Avoiding Airplane Travel,

Travelers May Drive On Local Vacations

Ben Guenther surveys his Five Star Subaru lot, where 20 of 100 cars have been sold since the pandemic started. (Ian Austin/AllOTSEGO.com)

By LIBBY CUDMORE – Special to www.AllOTSEGO.com

Tom Armao discusses implementing the new state guidelines at Country Club Automotive.

INDEX – Kevin Harris believes that the road trip is due for a resurgence.

“There’s reluctance for people to fly or do cruises,” said the proprietor of Kevin’s Royal Automotive here. “But they still want to travel, and I think that bodes well for us in the third and fourth quarter.”

In a surprise to many, on Thursday,

May 7, Governor Cuomo lifted restrictions on auto dealerships statewide, allowing in-person sales – by appointment; sales had previously been restricted to online only.

SUNY Oneonta’s Ford Hall Picked As ‘Net Zero’ Project

SUNY Oneonta’s Ford Hall

Picked As ‘Net Zero’ Project

First-In-System Redo Paves Way For 500 Dorms Statewide
SUNY Oneonta’s Ford Hall during Eastman & Associate renovations a few years ago.

ONEONTA – “Net zero.”

That term refers to a building “that generates all its energy onsite, producing as much energy from non-fossil fuels sources at it consumes each year,” SUNY Oneonta’s Lachlain Squair, chief facilities planning and safety officer, said yesterday in announcing 213-room Ford Hall will become the first such building on the local campus.

Attend Earth Fest Online, Make Movie Poster, Much More

LIBBY’S BEST BETS

Attend Earth Fest

Online, Make Movie

Poster, Much More

By LIBBY CUDMORE • Special to www.AllOTSEGO.com

Keep the little ones – and the big ones too! – from growing restless inside with a photo contest, Earth Fest, a family fun run and more.

Learn to save energy and reduce food waste, and do a scavenger hunt in your own backyard as part of OCCA’s annual Earth Fest, featuring new online webinars and activities every day! Saturday, April 18 to Wednesday, April 22. Info, schedule, www.occainfo.org/calendar/

The Oneonta Teen Center is hosting a weekly online challenge with prizes. This week, recreate a movie poster using only the objects in your home. Submit via Facebook or Instagram by Thursday, April 23. Info, rules, www.facebook.com/oneonta.teencenter

Start a springtime garden with The Farmers’ Museum as part of this week’s “Virtual April at the Farm.” Via video, you can visit the barn bunny, bake a Harlem cake or learn how doctors used leeches! Thursday, April 16, www.facebook.com/farmersmuseum/

Get the whole family out for a jog as part of SADD’s annual “Strides for Safety” 5K. Run your own course – mindful of social distancing – any time between Friday, April 17 and Monday, April 20, and post a picture your run with hashtags #saddstridesfor safety and #clarksports-centerevents. Entrance fee, $10/person. Register at www.saddstridesforsafety.itsyourrace.com//event.aspx?id=8944

Learn about water power and simple
machines with Hanford Mills education coordinator Luke Murphy at 11 a.m. Wednesday. www.facebook.com/HanfordMillsMuseum/

Demolition Begins On Site Of CVS’ Future Pharmacy

Demolition Begins On Site

Of CVS’ Future Pharmacy

Jake Brown from Burrell’s Excavating, Norwich, smooths over the parking lot of the former Cooperstown Motel a few minutes ago after knocking down a fence and removing utilities from the ground. A small bulldozer is also on site, pushing hundreds of items – from furniture to appliances – from the motel’s basement; already, the bed of one dump truck has been filled and hauled from the property, and more material is being piled up in the property’s southwest corner. Brown said demolition of the building itself will probably begin Monday, and take two days. The hotel burned last Aug. 9, the result of what has been ruled an arson, although no suspects have been arrested. CVS is planning a full-service pharmacy there, to open next March. (Jim Kevlin/AllOTSEGO.com)
Cooperstown Link To Tragedy Where 17 Died Is Unclear

Cooperstown Link

To Tragedy Where

20 Died Is Unclear

Times Reports Fatal Limo Headed Here;

Perhaps Cooptoberfest Was Destination

By JIM KEVLIN & LIBBY CUDMORE • Special to www.AllOTSEGO.com

COOPERSTOWN –  Cooperstown, and perhaps Brewery Ommegang, are being reported in the national media as the destination of the limousine that crashed Saturday afternoon in Schoharie County, killing the 18 passengers, plus two people standing nearby.

The New York Times is quoting the aunt of a victim who said the riders in the limousine were heading toward a birthday party at “a Cooperstown brewery.”   CNN is reporting the brewery was Ommegang.

However, there are two other breweries in the Cooperstown area, and Eat Drink Cooperstown, the beer-tasting culmination of the fifth annual Cooptoberfest, was also underway that afternoon.

12 Net-Zero Apartments Planned On Chestnut St.

 EDMONDS BRIEFS TRUSTEES ON ‘THE GROVE’

12 Net-Zero Apartments

Planned On Chestnut St.

Josh Edmonds, principal in Simple Integrity builders, briefs the Cooperstown Village Board last evening on “The Grove,” a net-zero 12-apartment building he is planning at 10 Chestnut St. in the village, next to the Inn at Cooperstown. “The village needs long-term rentals,” he told trustees at their monthly meeting Tuesday. “And I see a need for more energy-efficient construction.” He was advised to take the plans to the Historical Preservation & Architectural Review Board (H-PARB) and the Planning Board.  Facing the camera are, from left, Trustees Jim Membrino, MacGuire Benton and Jeanne Dewey; with back to camera are Trustees Jim Dean, left, and Richard Sternberg.  (Libby Cudmore/AllOTSEGO.com)

DETAILS IN FREEMAN’S & HOMETOWN,

ON NEWSSTANDS THIS AFTERNOON

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21 Railroad Ave. Cooperstown, New York 13326 • (607) 547-6103