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>UBI does not "create" new money and just give it to everyone (which would cause inflation). It's a wealth redistribution. UBI is Universal Basic Income, meani
by bduerst 9y ago
>UBI does not "create" new money and just give it to everyone (which would cause inflation). It's a wealth redistribution.
UBI is Universal Basic Income, meaning that income is increased for everyone universally. Nobody is claiming that money is created out of thin air.
What you're thinking about is a negative income tax or some other disproportionately weighted welfare program.
- billmalarky 9y agoNot true see https://news.ycombinator.com/item?id=15306562 https://news.ycombinator.com/item?id=15306562
- bduerst 9y agoThat still doesn't explain why you think people are saying that money is created out of thin air. Increasing the income for the vast majority of the population inflates the prices of income-elastic goods and services.