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So, essentially, abolish property rights? Just have government seize the capital from people who currently own it, or rather, seize the proceeds of the capital
by imgabe 10y ago
So, essentially, abolish property rights? Just have government seize the capital from people who currently own it, or rather, seize the proceeds of the capital which is effectively the same thing, because why would you bother owning the capital if you weren't going to have access to the income it produces?
I'm all in favor of Universal Basic Income, but what happens when everyone who currently invests their money to produce this passive income decides to simply spend it instead since they wouldn't get to use any return from their investments?
- subway 10y agoSeems like if the folks hoarding money via investments were to spend it, we'd see much greater wealth equality.
- stretchwithme 10y agoThat's true. We'd all be much more equally poor. There's also be no capital accumulating for innovation. No annoying technology to enable people to make high salaries. And none of the annoying tax revenues collected from them.
- stretchwithme 10y agoThis has been tried many times. It's called communism. And people always try to escape it. And its eventually abandoned.
- forrestthewoods 10y ago> hoarding money > investments Pick one. Those are literal opposites.
- CodeWriter23 10y ago> but what happens when everyone who currently invests their money to produce this passive income decides to simply spend it instead since they wouldn't get to use any return from their investments? We would then experience true economic recovery, where everyone can access the inventory of dollars, as opposed to the current "asset based" recovery we are now experiencing. Which is basically economic recovery for those who own hard assets.
- djcapelis 10y agoThe monarchy used to own all the land in many parts of the world. When will you be obeying their property rights and giving yours back?