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I think it's a double edged sword. Encouraging people to minimize their COL and spend the money on underinvested areas of the country is fantastic for decreasin
by kenhwang 6y ago
I think it's a double edged sword. Encouraging people to minimize their COL and spend the money on underinvested areas of the country is fantastic for decreasing the wealth gap.
But the other likely outcome is drastic COL inflation in low COL areas which adversely impacts them significantly more.
- Avicebron 6y agoBut if everyone including those in the low COL area was getting UBI then it should equalize no?
- kenhwang 6y agoI believe so, but the economic impact isn't well understood yet. The UBI experiments so far have shown that it does have an inflationary effect (which causes COL to go up), and at the same time, incomes decrease as secondary earners opt for UBI instead of working. People overall are much happier, but their financial situation gets worse.
- exclusiv 6y agoYes. Colorado hates on Texans for scooping up real estate and driving up prices and taxes. And Texans hate on Californians for scooping up their real estate. You can't have it all. And if you do, it won't last forever. Such is life.
- zozbot234 6y agoLow COL areas are so widespread in practice that no real inflation would occur, even if all the money was spent there. Urban living is the kind that's scarce and expensive.