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What does everyone think about the idea of market cap providing UBI? I've been following AAPL since it was about $12 (as I recall) after the dot bomb: https:/
by zackmorris 6y ago
What does everyone think about the idea of market cap providing UBI?
I've been following AAPL since it was about $12 (as I recall) after the dot bomb:
https://finance.yahoo.com/quote/AAPL/chart?p=AAPL https://finance.yahoo.com/quote/AAPL/chart?p=AAPL
If I scroll way out, I can see that low corresponds to about 1.04 on 12/10/2000. It's current high as of 8/19/2020 is 466.60, so that's roughly a 450 times return on investment in the time I've been paying attention. Had I invested $1000, I'd have $450,000 today. I could have retired on a cool $4.5 million had I invested $10,000.
The problem is, I had no disposable income at that time, having just graduated with about $25,000 in student loans. I only paid them off at the age of 40, almost 20 years later. I spent 6 years of that working extremely hard moving furniture and working in a Mac repair shop for 3 years each. The other 14 years were divided between good high-paying jobs like 1 year at hp as a contractor, and many as an entrepreneur attending the school of hard knocks. I had to settle many debts along the way. I learned a bit, but for the most part consider the last 20 years to be 2 lost decades. I feel that applies to all of Gen X, Millennials and younger, but that's still up for debate.
Now, we hear that there is no money for UBI from the government. But that doesn't really sound right to me. My feeling is that we actually have 2 economies in the US now. One for the working poor (the bottom half of the US population, ~200 million people who have no net worth and no savings), and one for the capitalists who have any money at all to invest and ride the waves of prosperity.
The real heart of what I'm asking is whether other qualities in life like potential, enthusiasm, work ethic, etc should be equivalent/convertible to capital. What is it about me and my life choices that excluded me from enjoying the gains that many readers on here enjoy? Was it my choice to attend college? To be an entrepreneur? To choose computers instead of say, sales? What was it?
And when we answer that, we get to the $64,000 question, which is:
A) Is there any way to structure our economy so that the whole population could have $1000 to invest early on? Or B) is that a fallacy, would the $1000 just create inflation, a leveling out of everyone's wealth so that Apple's market cap of $2 trillion wouldn't represent anything especially high per capita?
If the answer is A), then why didn't we do that? Why don't we do it now? Why couldn't the returns of the stock market provide UBI?
If the answer is B), then why are we excited about this? How is this different from rubbing the bottom half of the country's faces in the elite's prosperity?