Re:Did Finland’s basic income experiment work? [video]
by boomboomsubban on Sunday February 03, 2019 @12:51PM
(#19071034)
>The problem is that rich people don't consume in proportion to their wealth... most is usually invested
Money that is invested doesn't vanish, the companies they invest in use that money to produce more goods. Assuming the cost of labor goes up with UBI, less of the profit will go to the investors and more will go to the employees, effectively taxing their investments.
Re:Did Finland’s basic income experiment work? [video]
by jeffdavis on Sunday February 03, 2019 @01:09PM
(#19071158)
I think we are in agreement. My point was that it's nor clear that rich people would consume less, so the money would come from them divesting assets to pay the taxes.
Money that is invested doesn't vanish, the companies they invest in use that money to produce more goods. Assuming the cost of labor goes up with UBI, less of the profit will go to the investors and more will go to the employees, effectively taxing their investments.