Re:Universal Basic Income Is Silicon Valley’s Latest Scam
by Terr_ on Wednesday October 10, 2018 @03:02PM
(#18187893)
> How does UBI lead to capital accumulating at the top?
It all depends on how you fund the UBI from different households (and their holding-companies, trusts, offshore bank accounts, etc.) versus how well each of those groups can recapture it from the economic engine.
There are probably scenarios where the UBI could be used to cause a net-benefit to the top 1%, based on net-losses among the 90-99th percentiles. That the bottom 90% see a minor benefit would just a side-effect.
It all depends on how you fund the UBI from different households (and their holding-companies, trusts, offshore bank accounts, etc.) versus how well each of those groups can recapture it from the economic engine.
There are probably scenarios where the UBI could be used to cause a net-benefit to the top 1%, based on net-losses among the 90-99th percentiles. That the bottom 90% see a minor benefit would just a side-effect.