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UBI won't solve poverty for a very simple reason: Every time government starts to subsidise something the price of subsidised goods goes up. I've seen this in
by mamon 10y ago
UBI won't solve poverty for a very simple reason:
Every time government starts to subsidise something the price of subsidised goods goes up. I've seen this in Europe with wind farms, "eco" lightbulbs, farming equipment. etc.
And UBI is equivalent to subsidising all basic goods at the same time. So the only noticeable effect of UBI will be price increase, so that it would take your salary + UBI to purchase goods that now can be purchased by your salary alone.
Net result: increased bureaucracy, increased cash flow for the government (higher taxes), higher profits for corporations (higher prices), no benefit for poor, big hit for middle class (which is most heavily taxed).