3 ms·

If my income is $10, and your income is $100, you can buy 10x the stuff I can buy. If you add a basic income of $20, (ignoring taxes lol) now you can buy 4x th

If my income is $10, and your income is $100, you can buy 10x the stuff I can buy. If you add a basic income of $20, (ignoring taxes lol) now you can buy 4x the stuff I can. It might not affect high end luxury items, but I can probably afford some staple items like socks now.

mixmastamyk 10y ago
He's saying the price of socks will rise to eat your new income, no?
- usefulcat 10y ago
  Which would require a lack of competition in the sock market.
  - lolsal 10y ago
    I'm guessing that's implied since people would not longer 'have' to work. Why compete in the sock market when I can survive and not compete?
digi_owl 10y ago
But what if i am the merchant selling you socks, what then? That is part of the problem, this at the top are invariably those that sell stuff to those at the bottom (either directly or via ownership in companies that do so).