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Don’t tax labor to give money out to UBI loafers. Instead, snag society’s capital income, which is already paid out to people without regard to whether they wor

• subway 10y ago
  Or the author just disagrees with capitalism.
• eridius 10y ago
  Did you finish the article? They're not literally suggesting that all capital income be redirected by the government, but instead suggesting that the government should build up a fund that owns capital assets. > The US federal government would employ various strategies (mandatory share issuances, wealth taxes, counter-cyclical asset purchases, etc.) to build up a big wealth fund that owns capital assets. Sure, wealth taxes does mean effectively redirecting some of the capital income earned by other people, but that's basically what all taxes do anyway. And I'm not sure what "mandatory share issuances" or "counter-cyclical asset purchases" mean. But the end result is they're suggesting that the government should own a set of capital assets rather than just relying on taking money from citizens that own capital assets.
  • em500 10y ago
    > Did you finish the article? They're not literally suggesting that all capital income be redirected by the government, but instead suggesting that the government should build up a fund that owns capital assets. To provide a UBI of say 12k for every adult in the country (as opposed to just a few hundred or thousand), such a fund would need to own a large part of all the corporations and housing stock in the country. Didn't work well for the countries that tried it in the past.
• eli_gottlieb 10y ago
  Who said the author likes capitalism? A lot of people don't these days: it hasn't been very nice to us.
  • meddlepal 10y ago
    Those people are a threat to all of us.