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And are billionaires a meaningful portion of the populace or total payments? Or are you trying to both use means testing as a way of significantly restricting b
by donavanm 7y ago
And are billionaires a meaningful portion of the populace or total payments? Or are you trying to both use means testing as a way of significantly restricting beneficiaries while still calling it “universal”?
- sova 7y agoThe "universal" in "universal basic income" is what makes it undesirable because affluent people don't need money and giving it to them devalues money given to the needy, commodity prices spike when a fund is issued (like in Kuwait, they could not avoid it because when the supply of money increased commodity prices spiked up). While there are only 607 billionaires in the US, I was using the term billionaires as emblematic of anyone with a decent level of affluence. I do not think we should be striving for "universal" basic income because it turns into "universal" rampant inflation with diluted (= eventually zero ) beneficiaries