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> We'd immediately see damage to luxury brands and yacht sales. The art markets would crash. Stock markets would feel some pain. How do you make these confiden
by eru 1y ago
> We'd immediately see damage to luxury brands and yacht sales. The art markets would crash. Stock markets would feel some pain.
How do you make these confident predictions?
I think it would depend a lot on how the UBI is, and exactly how you design the taxes to finance it (and how high those taxes are going to be).
- johnecheck 1y agoMy assumption is that UBI is a significant transfer of wealth from the richest to the rest. Isn't that the whole point? Exactly how to structure the taxes that pay for it is naturally a key question. Given that, it's pretty safe to assume markets that cater exclusively to the ultra-wealthy will be harmed by reduced demand as their customer base shrinks. Higher tax rates will also exert downward pressure ob stock values as companies make less profit and investors tighten their belts. (Especially if there's a wealth tax.)