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Important thing to keep in mind regarding UBI is that goverment does not generate any money. In order for goverment to give money, it needs to take it from some

Important thing to keep in mind regarding UBI is that goverment does not generate any money. In order for goverment to give money, it needs to take it from someone. So UBI is just proxy for wealth redistribution. Sure, wellbeing has improved for small group of people, but the question is how scalable UBI is? Remember, road to hell is paved with good intentions.

standardUser 6y ago
I wouldn't call trying to build and maintain a prosperous society a "road to hell", but it's true that UBI is just a different form of wealth redistribution. But most nations currently achieve redistribution through a convoluted mosaic of overlapping/competing/intertwined systems, each with their own entrenched bureaucracies and complicated rules. In contrast, a UBI system can be streamlined and efficient and, based on studies like these, even have better outcomes for recipients.
- commandlinefan 6y ago
  > I wouldn't call trying to build and maintain a prosperous society a "road to hell" The phrase was "road to hell is paved with good intentions". "Trying to build and maintain a prosperous society" was the good intentions part. The hell part is the reality that the next generation lives in after wealth redistribution has been forced: we've seen it over and over again, every time it's been tried.
superkuh 6y ago
Money is generated as a form of basic income but only for chartered banks. Money supply is generated by banks creating debt on balance sheets while giving out loans of money they don't actually have (fractional reserve banking) and the same story between these banks and regional government proxy federal banks.
deleted 6y ago
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chillacy 6y ago
> road to hell is paved with good intentions Unrelated but I really dislike this phrase because it tells us nothing, it's not actionable, nor is it accurate. The road to heaven is paved with good intentions too. There are other roads to hell paved with bad intentions, and probably a few to heaven with bad intentions as well. A more accurate saying would be "be careful of unintended bad side effects". That's something useful you could say in the workplace in response to a proposal.
jostylr 6y ago
It is explicitly about wealth redistribution, one in which there is no skewing of paying people to be in a certain state other than alive (which welfare systems are doing). Of course, no money needs to be taken; inflation can do that for us if we prefer uncontrolled recapture. Under a basic, reasonable fair model, random economic flows in a free market will tend to have all the wealth accumulated by a few: https://www.scientificamerican.com/article/is-inequality-inevitable/ https://www.scientificamerican.com/article/is-inequality-ine... Depending on the redistribution amounts (not specifically UBI, just aggregate), differing levels of oligarchy will or will not form. UBI allows for a very gentle way of avoiding all the wealth captured by a few. You could think of it as economic transfers tend to create blackholes and UBI pumps some of the accumulated matter back into the universe to keep activity flowing.

standardUser 6y ago

I wouldn't call trying to build and maintain a prosperous society a "road to hell", but it's true that UBI is just a different form of wealth redistribution. But most nations currently achieve redistribution through a convoluted mosaic of overlapping/competing/intertwined systems, each with their own entrenched bureaucracies and complicated rules. In contrast, a UBI system can be streamlined and efficient and, based on studies like these, even have better outcomes for recipients.

commandlinefan 6y ago
> I wouldn't call trying to build and maintain a prosperous society a "road to hell" The phrase was "road to hell is paved with good intentions". "Trying to build and maintain a prosperous society" was the good intentions part. The hell part is the reality that the next generation lives in after wealth redistribution has been forced: we've seen it over and over again, every time it's been tried.

superkuh 6y ago

Money is generated as a form of basic income but only for chartered banks. Money supply is generated by banks creating debt on balance sheets while giving out loans of money they don't actually have (fractional reserve banking) and the same story between these banks and regional government proxy federal banks.

deleted 6y ago

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chillacy 6y ago

> road to hell is paved with good intentions Unrelated but I really dislike this phrase because it tells us nothing, it's not actionable, nor is it accurate. The road to heaven is paved with good intentions too. There are other roads to hell paved with bad intentions, and probably a few to heaven with bad intentions as well. A more accurate saying would be "be careful of unintended bad side effects". That's something useful you could say in the workplace in response to a proposal.

jostylr 6y ago

It is explicitly about wealth redistribution, one in which there is no skewing of paying people to be in a certain state other than alive (which welfare systems are doing). Of course, no money needs to be taken; inflation can do that for us if we prefer uncontrolled recapture. Under a basic, reasonable fair model, random economic flows in a free market will tend to have all the wealth accumulated by a few: https://www.scientificamerican.com/article/is-inequality-inevitable/ https://www.scientificamerican.com/article/is-inequality-ine... Depending on the redistribution amounts (not specifically UBI, just aggregate), differing levels of oligarchy will or will not form. UBI allows for a very gentle way of avoiding all the wealth captured by a few. You could think of it as economic transfers tend to create blackholes and UBI pumps some of the accumulated matter back into the universe to keep activity flowing.