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Gates probably honestly believes in UBI; the guy is practical to a fault but evil misleading genius he is not. I actually don’t see any better options than UBI

Gates probably honestly believes in UBI; the guy is practical to a fault but evil misleading genius he is not. I actually don’t see any better options than UBI long term.

wannabe44 1mo ago
Only ways to rise in a UBI society where AI is supposed to replace intellectual work is crime and prostitution. Smart people who want better lives than the average will have to get into crime.
- seanmcdirmid 1mo ago
  A UBI society doesn't mean jobs aren’t available. There most certainly will be jobs. But with UBI and universal healthcare, the jobs can pay whatever the market really demands. People always complain about the government subsidizing low Walmart wages for example, but with UBI that argument is moot. Liberalizing the labor market wouldn’t mean less jobs, it would mean more (we would also have to lean more on corporate and consumption taxes rather than taxes around employment which would also make employment easier).
  - andriy_koval 1mo ago
    > we would also have to lean more on corporate and consumption taxes rather than taxes around employment which would also make employment easier I think the only way forward is wealth tax. Rich accumulated so much wealth already, that they don't need to put it to profitable businesses.
    - seanmcdirmid 1mo ago
      Wealth taxes require liquidating investments early and don’t promote good practices, especially if they are applied broadly. I would opt for a tax on loans instead (you have to prepay tax on loans that use investments as collateral and no more step up in basis on death).
      - andriy_koval 1mo ago
        > Wealth taxes require liquidating investments early it works for RE already without liquidation > . I would opt for a tax on loans instead (you have to prepay tax on loans that use investments as collateral and no more step up in basis on death). rich just will move from this scheme to something else, and nothing changes.
        seanmcdirmid 1mo ago
        The rich will just move to a different country, negotiate with a Swiss canton for a fixed sum tax. I don't see how a tax that punishes wealth is sustainable, the wealth will just go somewhere else. Maybe if we had a world government or something.
        andriy_koval 1mo ago
        US currently hold enough power to make them paying their debts oversees too. Also, I think it is equilibrium of interests of all involved parties: rich pay 0.5%/y of wealth tax, population is healthier, country is stronger and protects interests and safety of rich. The problem is mostly to make them realize this.
        seanmcdirmid 1mo ago
        > US currently hold enough power to make them paying their debts oversees too. The US is increasingly a less relevant country every year. With a wealth tax, yes, all those Americans will have their wealth eventually confiscated (0.5% a year will add up quickly year after year, investments will unwind so wealth will stop accumulated, and eventually it's gone), but I doubt the rest of the world will care and just move on and decide crazy things that happen in the US are like the crazy things that happen in Iran.
        andriy_koval 29d ago
        > With a wealth tax, yes, all those Americans will have their wealth eventually confiscate US already have 0.5-1.5% property tax, no one calls it confiscation.
dgellow 1mo ago
Gates has been a ruthless fairly evil genius business man his whole life

Gates probably honestly believes in UBI; the guy is practical to a fault but evil misleading genius he is not. I actually don’t see any better options than UBI long term.

wannabe44 1mo ago

Only ways to rise in a UBI society where AI is supposed to replace intellectual work is crime and prostitution. Smart people who want better lives than the average will have to get into crime.

seanmcdirmid 1mo ago
A UBI society doesn't mean jobs aren’t available. There most certainly will be jobs. But with UBI and universal healthcare, the jobs can pay whatever the market really demands. People always complain about the government subsidizing low Walmart wages for example, but with UBI that argument is moot. Liberalizing the labor market wouldn’t mean less jobs, it would mean more (we would also have to lean more on corporate and consumption taxes rather than taxes around employment which would also make employment easier).
- andriy_koval 1mo ago
  > we would also have to lean more on corporate and consumption taxes rather than taxes around employment which would also make employment easier I think the only way forward is wealth tax. Rich accumulated so much wealth already, that they don't need to put it to profitable businesses.
  - seanmcdirmid 1mo ago
    Wealth taxes require liquidating investments early and don’t promote good practices, especially if they are applied broadly. I would opt for a tax on loans instead (you have to prepay tax on loans that use investments as collateral and no more step up in basis on death).
    - andriy_koval 1mo ago
      > Wealth taxes require liquidating investments early it works for RE already without liquidation > . I would opt for a tax on loans instead (you have to prepay tax on loans that use investments as collateral and no more step up in basis on death). rich just will move from this scheme to something else, and nothing changes.
      - seanmcdirmid 1mo ago
        The rich will just move to a different country, negotiate with a Swiss canton for a fixed sum tax. I don't see how a tax that punishes wealth is sustainable, the wealth will just go somewhere else. Maybe if we had a world government or something.
        andriy_koval 1mo ago
        US currently hold enough power to make them paying their debts oversees too. Also, I think it is equilibrium of interests of all involved parties: rich pay 0.5%/y of wealth tax, population is healthier, country is stronger and protects interests and safety of rich. The problem is mostly to make them realize this.
        seanmcdirmid 1mo ago
        > US currently hold enough power to make them paying their debts oversees too. The US is increasingly a less relevant country every year. With a wealth tax, yes, all those Americans will have their wealth eventually confiscated (0.5% a year will add up quickly year after year, investments will unwind so wealth will stop accumulated, and eventually it's gone), but I doubt the rest of the world will care and just move on and decide crazy things that happen in the US are like the crazy things that happen in Iran.
        andriy_koval 29d ago
        > With a wealth tax, yes, all those Americans will have their wealth eventually confiscate US already have 0.5-1.5% property tax, no one calls it confiscation.

dgellow 1mo ago

Gates has been a ruthless fairly evil genius business man his whole life