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A comment on Why we should all have a basic income. Parent comment

Re:Why we should all have a basic income by sokoloff on Sunday January 22, 2017 @03:47PM (#13457351)
Sorry. I must have mis-understood your argument about why prices would change. I thought you were positing that the recipients might spend all the UBI on retiring credit card debt, causing prices to not change. I thought that to be exceptionally unlikely.

Upon re-reading, I still read your words that way.

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Re:Why we should all have a basic income by jganetsk on Sunday January 22, 2017 @04:27PM (#13457601)
I was just giving one scenario, though unlikely, in which consumer spending does not increase whatsoever. It is likely that a large fraction, maybe even a majority, of basic income would go to paying off debt rather than consumer spending.

Given that there is such a huge amount of personal debt out there, the poor have the freedom to allocate their basic income between spending and paying off debt for many years. And when prices go up for certain things, they might reallocate their income to other things.

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