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How are slavery reparations fair?
(lemm.ee)
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this post was submitted on 23 Aug 2023
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Your analogy and argument is very well organized so I wonder how you think universal basic income could mitigate the negative impacts of generational wealth/poverty? In my mind, it is part of a solution to many social issues but I'm still learning. I know there are arguments that capitalism will just buffer against any implementation but I'm still forming my opinions.
Thanks, it's something I've been thinking about for a long time since it was a big discussion topic in my circle for a while.
I haven't given the same level of thought to universal basic income, but I guess it would be a start. What people really need is a way to not only survive but to build wealth and pass that wealth on to their descendants. Like I said in my previous comment, education, investment opportunities, infrastructure upgrades, etc. will go a long way towards that goal. In my mind, a universal income could be a part of that but not the whole solution. And yes capitalism will find a way to ruin it but we can always hope.
Another part in my mind would be estate taxes. If generational wealth wasn't as impactful on our lives then UBI could serve a bigger purpose. If the playing field were more level for everyone, then hate or fear couldn't errode it as easily. It's not something we can see in a lifetime, but I hope that I can see us aiming at a useful target while I am still around.
I think UBI could help with the problem. It won't be solved without other things though. If we pay for UBI by increase estate and inheritance taxes, that could go a long way. Basically make it so generational wealth slowly decreases over time. Obviously it'll never be zero, because education, social connections, and things are also generational wealth, but it'd be an improvement to the way things are.
Basically, it's not fair that someone is rich because their parents were rich and someone is poor because their parents were poor. The rich person should be less rich and the poor person should be less poor (on average).