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this post was submitted on 20 Oct 2023
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Of course, and that's great. But who pays for the UBI? Rich people? And what do we do when we have taken everything from them, or they move overseas?
They will get UBI too so worst case they hit the same floor as everyone else.
But they will never reach that point because taxing the rich will never make them anything other than the richest of the population. They will still be rich, just with a smaller gap between them and everyone else.
As a side note, why are you worried more about the rich than the poor?
I am not. I'm offering the argument that a UBI may well lead to a less productive population, which makes it even harder to maintain a UBI in the first place.
But if there are no longer rich people to be taxed because they have been sucked dry then there is no source to fund the UBI. Hence the notion that "rich people will fund the UBI" doesn't fly. Not to mention that wealthy people find it relatively easy to move to other countries with less taxes.
The UBI is funded by not having 23 different agencies each with their own staff, red tape, and costly vetting processes.
There are more than a few studies already done on UBI and they all conclude it is a benefit. Stop asking everyone else to quench your curiosity and do the work yourself. Or are you currently receiving UBI and don’t want to do any work?
Foh