The Rich Already Have A UBI

[ⒶⓁⒾⒶⓈ]

Of course, you're one of those "taxation is literal theft" people.

isn't it???

 

[Berniewood Hogan]

isn't it???

Are you an Anarchist? Should there be no state?

 

[Tate]

Every reply here is retarded. The post is in response to a line of argument emerging that says that UBI is unfeasible because income divorced from work is inherently a source of moral decay. I say emerging despite this being standard reactionary thinking for over a century because recently this (retarded)logic has been being brought up more in direct relation to UBI. This stems from the (partially correct)idea that deindustrialization brought us trump. This usually sound argument becomes bad because when taken with income-work=decay it divorces material conditions from the equation.

This piece counters that by pointing out that passive income, income from capital, already exists on a large scale in our economy and that practically it all goes to the segment of society that those making the argument that income-work=decay view as the most virtuous.

what a deep multifaceted response...please flush and wash your hands after producing such "powerful" posts

Shut up bytch

I prefer capitalism, thank you. A government dictating or giving resources comes with strings. I don't trust government.

Extremely stupid post

A lot of reasons that have nothing to do with a UBI. What good is a UBI to someone with unmanaged mental health issues?

What use could someone with mental health problems have for money? I certainly can't think of any

 

[Bernie Madoff]

Good post. +Rep

 

[88m3]

Your ssdi payment is sort of already doing this for you...

All of my income is passive and has been for five years or so.


I'm not the guy you clown about being poor.

 

[Bernie Madoff]

All of my income is passive and has been for five years or so.


I'm not the guy you clown about being poor.

I thought you were someone else. I edited the thread.

Can you please enlighten us on this forum how we too can not work and live off passive income? That sounds like a great life.

+Rep

 

[ⒶⓁⒾⒶⓈ]

 

[88m3]

I thought you were someone else. I edited the thread.

Can you please enlighten us on this forum how we too can not work and live off passive income? That sounds like a great life.

+Rep

house/apartment rentals

 

[ⒶⓁⒾⒶⓈ]

Are you an Anarchist? Should there be no state?

Im a pragmatist who has little faith in most of humanity

In an ideal world there should be no state.....its a predatory institution...but since most people cannot behave themselves if the state were to disappear suddenly the best way to get there IMO is to shrink it gradually.

 

[CHL]

Facebook memes and Winston Churchill quotes are such authoritative evidence & make for extremely compelling arguments


I'm convinced, Socialism is for dummies

 

[Domingo Halliburton]

UBI has been a conversation for a long time now, and has been considered by a lot of serious economists. It has no relation to discussions in Communism at all - it's pretty substantially difference because it actually increases freedom rather than restricting it.





That's not entirely true. There is a risk-free interest rate that is above and beyond any risk premium. That is basically backed by US Treasury bonds that are guaranteed by the US government.

In interest which the rich accumulate from economic rents, in part, comes from the fact that they believe simply because they own money, they have the right to even more money. When they lend out that money, they only due so under the stipulation that the interest rate of return outstrips the rate of inflation and the risk premium combined. That means that except in the case of catastrophic collapse or large-scale wealth redistribution, the system is one where money is constantly flowing from the poor to the rich, because the rich believe that owning money should be reason enough to deserve more of it. In fact, they often manipulate economic systems and markets to keep pushing even more money towards them in this way.

You have risk free rate and premium backwards. Risk free rate is lower or why else would anyone take risks?

 

[ghostwriterx]

Thats also called PROFIT from invesments in stock,bonds,real estate...its the primary reason why those activities were undertaken in the first place...Now is it fair that a guy can make millions off a few clicks on a trading website than a coal miner will make all their life..of course not...but life isnt meant to be fair
If as a society we want to help the coal miner the right way to do it is NOT to pick the pockets of the hedge fund manager and give him stolen cash but rather to clear the obstacles in the way so the coal miner can eventually run a hedge fund if he has the ambition to do so.

 

[Professor Emeritus]

You have risk free rate and premium backwards. Risk free rate is lower or why else would anyone take risks?

Sorry, I should have been clearer. By saying that there was a risk-free component above and beyond the risk premium, I was trying to say that it was in addition to the risk premium and thus made the overall interest rate above and beyond that which would be justified by a risk premium alone. I was not trying to imply that the risk-free component was in itself the largest component.

 

[the cac mamba]

Article has a bullshyt premise. UBI and interest off your investments isn't the same thing. I could be a silent partner in a company making bank, that's not UBI.

article brings up 'income from renting to people'

how the fukk do you redistribute that

 

[ⒶⓁⒾⒶⓈ]

Facebook memes and Winston Churchill quotes are such authoritative evidence & make for extremely compelling arguments


I'm convinced, Socialism is for dummies

You really wanted me to point out the obvious flaws like how UBI is basically replacing a welfare system with an unaffordable one...take the US for example..theres roughly 250 million people over 18...giving everyone say $1000/month will be a staggering 250 BILLION per month..compared to the 668 Billion per year being spent now.

And where will this money come from? Taxes? Ok so theyll have to raise taxes on the people who make more than the UBI threshold of 12k/year...then what happens to the people who make minimum wage and take home 15-18k/year..the difference between them working and paying extemely high taxes or just quitting and living on UBI is only a few k/year...and what of the corporations that can afford to move elsewhere and avoid those steep taxes.why would they stay? What of the rich people being taxed..why wouldnt they take their assets and flee.

Then there is inflation..suddenly there are more spenders and more money circulating,but the production capacity and resources havent changed..by this i mean if you own a bakery theres a limit to how much bread you can bake..it doesnt matter if theres a million extra customers now ....so demand will rise meaning prices will rise and the rise in prices will wipe out the effect of the UBI...unless the govt introduces price controls...price controls always lead to shortages,hoarding,smuggling..poor allocation of resources.

What of its effects on migration and immigration..since i assume UBI will be linked to citizenship there would be draconian changes as the masses try to kick everyone who they think doesn't deserve it out and block any entry..and foreign entrepreneurs will flee or avoid the country altogether because they would be taxed heavily to produce what they cant consume.There will be pressure for exclusive draconian laws and tribalism and nationalistic sentiments unseen since the middle ages.