from Hacker News

Spanish minister proposes €20k ‘universal inheritance’ from age of 18

by manuel_w on 7/6/23, 8:26 PM with 70 comments

  • by simonblack on 7/6/23, 9:06 PM

    I think that would be a great idea. Except that I would put the age of receiving that inheritance at about 30.

    It's one of the ironies of life that when you are young you have time but no money, and when you are old you have money and no time.

    Think how great it would be if you got that money while you were still young enough to use it, and old enough to use it wisely.

  • by 4g on 7/6/23, 10:14 PM

    Israel introduced a similar concept in 2017 that deposits a small amount of money monthly into a savings or investing account for each child, money can be withdrawn at the age of 18, or later at 21 with a small bonus.

    https://www.btl.gov.il/English%20Homepage/Benefits/Children/...

  • by pkaye on 7/6/23, 9:50 PM

    I think its election season in Spain.

  • by mensetmanusman on 7/6/23, 9:34 PM

    Are there enough rich people in Spain to redistribute and give everyone aged 18+ €20k?

  • by tantalor on 7/6/23, 11:16 PM

  • by jacknews on 7/7/23, 12:59 AM

    It's time to invest in venues offering lavish coming-of-age parties!

    Seriously, giving 18yo a lump sum in cash is maybe not the best idea, they should give this out as a non-transferable share in a state wealth fund (backed by some percentage ownership of the nation's companies), rather than cash.

    ie a universal basic equity.

    Rules could allow people who want to start a business etc to borrow against it.

  • by DoctorMckay101 on 7/7/23, 7:03 AM

    And meanwhile everybody from 18 to 30+ that lives paycheck to paycheck, without a possibility of getting into a mortgage, without being financially stable enough to become parents, get nothing.

    Also, "everybody" will get 20k? Even people that are rich? What is the reasoning behind that?

    Too many edges to sand down in this proposal.

  • by bassman9000 on 7/7/23, 1:34 AM

    Fun fact: the process will be made artificially slow to last til you are 23 years old, which means voters making 18 this year would have to vote for them, again, in 4.

    Total corruption.

  • by etrautmann on 7/7/23, 12:01 AM

    This is an awesome idea. There should be universal baby bonds that pay half at 30 and half at 40

  • by deepthunder on 7/7/23, 6:59 PM

    The landlords will just raise their rents accordingly. Effectively taxpayers will be subsidizing landlords.

    This is effectively what happened in the UK where those on low income get their rents topped up by the government. Hence why so many MPs are landlords.

  • by CraigRo on 7/6/23, 9:45 PM

    Gamble on La Liga, and when you are bankrupt, go apply for welfare, because you are now poor.

  • by henvic on 7/6/23, 10:51 PM

    How about just cutting taxes? Damn politicians love to rob Peter to pay Paul so much...

  • by sublinear on 7/6/23, 11:18 PM

    > The minister, who was raised in a staunchly communist household, said she had been unable to follow her own dreams of becoming an employment inspector because there was not enough money for her to spend years studying.

  • by activiation on 7/6/23, 8:44 PM

    Interesting idea