4 ms·
> try to fund these things by taxing successful workers instead of capital owners The capital will just flee to other places if they do that. In fact it alread
by petre 2y ago
> try to fund these things by taxing successful workers instead of capital owners
The capital will just flee to other places if they do that. In fact it already does.
But I agree, UBI will never work. It will just generate inflation and drive prices up, like the Biden Administration's America Rescue Plan did by giving away $1400 checks to people.
- timschmidt 2y ago"While labor and nonlabor input costs have played a role in price increases, corporate profits drove 53 percent of inflation during the second and third quarters of 2023 and more than one-third since the start of the pandemic. Comparatively, over the 40 years prior to the pandemic, they drove just 11 percent of price growth." https://groundworkcollaborative.org/wp-content/uploads/2024/01/24.01.17-GWC-Corporate-Profits-Report.pdf https://groundworkcollaborative.org/wp-content/uploads/2024/...
- impossiblefork 2y agoYes, but I believe that this can be solved if capital comes from wages-- i.e. large-scale mandatory savings as a fraction of wages, set by each country's central bank and raised in times of inflation, lowered in times of deflation.