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> All that assumes that basic prices wouldn't rise in an environment where money metaphorically fell like manna. Also, surely some percentage of taxpayers woul
by nathan_long 9y ago
> All that assumes that basic prices wouldn't rise in an environment where money metaphorically fell like manna.
Also, surely some percentage of taxpayers would stop working if they didn't need to work to live, so taxes would have to be raised even further.
And the higher the taxes go, the less point there seems to be in working. This could lead to more people dropping out of the workforce, which requires higher taxes on the remainder, and the cycle continues.
I don't know that it would happen this way, but if it did, it would destroy the economy.
- JulianMorrison 9y agoWhat you lose on some people stopping working, you're likely to gain because Einstein isn't working three minimum wage jobs and barely able to eat. And because people can work their passions and be better at them than at makework 9-to-5s. Also automation, and taxes on automatically earned productivity.