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Universal Basic Income isn't creating imaginary money into the existing supply, it's just shuffling tax resources around. Potentially lifting impoverished peopl
by nosuchthing 11y ago
Universal Basic Income isn't creating imaginary money into the existing supply, it's just shuffling tax resources around. Potentially lifting impoverished people out of excessive meager full time busy work, and allowing several workers to live a higher quality of life (reduced hours) yet the sum of their employed paycheck + UBI equating about what they had as a full time employee of BusyWork Inc.
Pegging the UBI to the consumer price index could possibly help as well. Or segregating luxury items outside of UBI credits. Or just taxing luxury goods and services.
- dllthomas 11y ago"Pegging the UBI to the consumer price index could possibly help as well." Don't do this! If we set the UBI unsustainably high, that will probably be reflected in a rise in prices. In that case, we want the real value of the UBI to fall, reducing that pressure. "Or segregating luxury items outside of UBI credits." Also don't do this. If there are fewer things competing for my UBI-tagged dollars, then we'll be needlessly driving up the prices of acceptable things.
- dragonwriter 11y ago> Or segregating luxury items outside of UBI credits. What does that mean? Prohibiting using UBI funds on luxury items? So, instead of unconditional basic income, it becomes a prescribed-use benefit like food stamps, but with slightly different prescriptions? One of the sources of administrative inefficiencies UBI is proposed to eliminate (as well as those associated with means testing) are those associated with managing and enforcing use limitations. > Or just taxing luxury goods and services. You could do that, or you could just use a progressive income tax.