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For those worried about the inflation risk: it depends on how the money is generated. Theoretically, if it is created by, for instance, taxation (redistributio

For those worried about the inflation risk: it depends on how the money is generated. Theoretically, if it is created by, for instance, taxation (redistribution over people) or bonds (which is redistribution over time), you shouldn't risk too much overall inflation. It will, however, change which goods increase in price. I suspect restaurants will become more expensive and yachts will be cheaper if it happened by taxation. Having said that, inflation itself seems to be blind to the theory and does whatever it feels like. For the purposes of this exercise, let's suppose I get $5k/mo and others don't. I think it depends on when I got it. In my 20s -> Travel and grad school In my 30s -> Supplementing my meager income to enjoy myself In my 40s -> Investment

andai 9y ago
Wouldn't it be better to start investing as early as possible? I'm in my early 20s and have been thinking that if I got a time machine the first thing I'd do is go back ten years and tell myself to get a job.
- linsomniac 9y ago
  Agreed. In my early 20s I was tempted to take my "signature loan" account of $10K and put it into investments, as a sort of enforced savings, and pay that off. In some ways, that's stupid, but 20+ years on, I wish I had done that. I mean, not as much as I wish I had held onto those bitcoins I sold for $15, but still... :-)
icey 9y ago
A scenario I'm not sure has been talked about much is the notion of some kind of "Automation tax", in which industries that adopt automation that remove significant amounts of human labor pay an additional tax to offset lost jobs in order to pay for a basic income. Ostensibly automation has the side-effect of reducing the cost of production, which should help stabilize prices against an influx of spendable currency (assuming the initial focus of basic income is needs-based versus a universal basic income).
- TheSmiddy 9y ago
  Don't need to tax 'automation', just profits, automation is already baked into that.

andai 9y ago

Wouldn't it be better to start investing as early as possible? I'm in my early 20s and have been thinking that if I got a time machine the first thing I'd do is go back ten years and tell myself to get a job.

linsomniac 9y ago
Agreed. In my early 20s I was tempted to take my "signature loan" account of $10K and put it into investments, as a sort of enforced savings, and pay that off. In some ways, that's stupid, but 20+ years on, I wish I had done that. I mean, not as much as I wish I had held onto those bitcoins I sold for $15, but still... :-)

icey 9y ago

A scenario I'm not sure has been talked about much is the notion of some kind of "Automation tax", in which industries that adopt automation that remove significant amounts of human labor pay an additional tax to offset lost jobs in order to pay for a basic income. Ostensibly automation has the side-effect of reducing the cost of production, which should help stabilize prices against an influx of spendable currency (assuming the initial focus of basic income is needs-based versus a universal basic income).

TheSmiddy 9y ago
Don't need to tax 'automation', just profits, automation is already baked into that.