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> There's something about creating the wealth/passive income that creates a different behavior than being given it. My completely uninformed opinion is that th
by eridius 10y ago
> There's something about creating the wealth/passive income that creates a different behavior than being given it.
My completely uninformed opinion is that this is largely due to one of the following:
1. Kids who grow up with so much passive income that they never need to work even for luxuries. UBI won't produce this, because anyone who wants luxuries will still have to work to afford them.
2. Passive income isn't automatically self-sustaining, so if kids aren't as good as their parents at actually managing their assets and/or business, then they may simply end up spending more than they make (especially if they're trying to maintain the same lifestyle their parents had even though they can't maintain all of the income). I think this ties back into #1 as well. The article said 30% of the income is capital assets, but if kids aren't good at business (or don't want to work at all), then they're relying on capital income for nearly all of their income instead of just a portion of it, which generally isn't self-sustaining without a change in lifestyle.