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It is hard for me to think of a situation where UBI would have be decreased that could not be handled better by simply taxing people more. One hand giveth, the
by jonnycomputer 6y ago
It is hard for me to think of a situation where UBI would have be decreased that could not be handled better by simply taxing people more. One hand giveth, the other hand taketh away.
My biggest concern is inflation. Adding more cash without also increasing productivity can cause inflation. UBI might improve productivity in a number of ways, but it might not do so enough. I know that proponents of the job guarantee argue that this is the fatal flaw in UBI; that instead people should be guaranteed useful work to do, which in theory would increase productivity to offset the government expenditures to send them paychecks. I do agree that there is a lot of useful work that could get done under such a program (cleaning rivers and streams, etc.), but I'm not convinced that we'd see productivity gains reliably either.
But opponents also complain about wage growth getting too high, almost as if capitalism depends on a class of exploited poor ...