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I find it fascinating that this community can both have this stance and find nothing wrong with the FIRE movement. What is a $1000/month UBI? Using the 4% rule
by ItsMonkk 5y ago
I find it fascinating that this community can both have this stance and find nothing wrong with the FIRE movement.
What is a $1000/month UBI? Using the 4% rule, it's equivalent to having investments worth $300000.
I have a feeling that a lot of people on HN have a portfolio worth $300000. Are you still working?
- smaryjerry 5y agoIt’s not just employees but my close friends. They refuse to work because they will make more on unemployment. Making less by working means they are essentially paying someone to work. What is FIRE movement?
- hollerith 5y ago"financial independence and retire early".
- ItsMonkk 5y ago> Making less by working means they are essentially paying someone to work. Note that this is one of the benefits of the UBI. As it is universal, if you get a job you will keep getting your UBI. So there will never be a time where this occurs if we switch. Work would always be incentivized.
- smaryjerry 5y agoThis would be true if it was actually universal, but as far as I can tell these UBI benefits are usually only for the poor.
- chii 5y ago> find nothing wrong with the FIRE movement. because those that get onto FIRE earned it themselves, rather than off the backs of taxpayers like in UBI.
- ItsMonkk 5y agoWell at least we both agree to 100% inheritance taxes.
- chii 5y agoinheritance is already taxed when the income of the parents was taxed! So i'm 100% against inheritance tax. After all, the parents earned that inheritance at some point (or their parents did, if they inherited it). Inheritance isn't a handout from the taxpayer to private entities.