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This is inaccurate. Money has worth because of the value a region generates. If you have 10 units of currency and then 10 more are printed with no more value
by nickthemagicman 6y ago
This is inaccurate.
Money has worth because of the value a region generates.
If you have 10 units of currency and then 10 more are printed with no more value generated you have inflation.
If you keep 10 units of currency but more value is generated you have deflation.
If you just change who has the 10 units of currency that's not inflationary or deflationary, that's redistribution of the value.
UBI is just giving workers back some of the value they have generated that has been capture by the owner class.
It's funded not through 'printing press go brrr' (deficit spending) but through actual redistribution of that value more equitably.
- RhysU 6y agoDoes no-brr-UBI that imply that a program would have to be fully funded each year by taxation of some sort?
- nickthemagicman 6y agoWell to start it would eliminate MASSIVE amounts of gov't beuracracy. The entire disjointed and bloated gov't safety net apparatus of food stamps, WIC, Rental Subsidies, EITC, disability, unemployment, and more. would go away along with the bloated salaries of the people who run all of those programs. So massive amounts of tax money would be saved at the start. UBI is actually a small government conservatives dream. Then there's also the possibility that the jobs it creates from increased demand due to an economy with a much higher flow of money, could have a deflationary aspect which would allow the money printer to go brr a little bit. Then also, who know what kinds of new innovation would happen from smart people free to pursue their own goals without worrying about financial insecurity. Taxes would go up on the rich probably moderately. But it's doable and affordable and the country would be so much better off in my opinion.