A UBI doesn't necessarily have to be funded by new money creation. Scrapping most of the current welfare system and the bureaucracy associated with its assessment and enforcement will cover a large chunk of it. Shortfalls would have to be made up through either increased taxation on the rich and/or reduced military spending. Of course, both of those things are hard to implement in today's shallow political climate. Something has to be done, though. Capitalism is going to collapse if we continue on this path.
RE: Universal Basic Income, Money, and You
You are viewing a single comment's thread from:
Universal Basic Income, Money, and You
Money is the primary way they enslave us. UBI would only create more indentured slaves. The same people who'd give you UBI are also keeping interest rates at all time lows destroying savings and investments. They're also the ones that force you to use the banking system to raise funds for your new project/idea - and the banks keeps 60% or more of your IPO. How could ANYTHING coming out of the government really be anything but more slavery?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
The solution, in my mind, is to use cryptos for peer-to-peer transactions that can't be traced and taxed. Less taxes means more savings and more investment and more wealth. Life is not monopoly, you can't print your way into prosperity UNLESS you are a bank. And that does not create value... only currency.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit