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Re:People kept working, became healthier while on basic inco... by munk-a on Thursday March 05, 2020 @01:45PM (#22496640)
We currently have intense income inequality in the world - pretty sure we can shave some off the top and the middle to help everyone live a healthier life.
Re:People kept working, became healthier while on basic inco... by graeme on Thursday March 05, 2020 @02:03PM (#22496841)
Wealth isn’t fungible like that. A lot of recent wealth inequality was stocks rising.

That doesn’t mean that food production went up, or that more houses get built cheaper, or that new doctors are cloned, or anything of the sort.

It just means stocks went up.

Most of the economy is people providing stuff to other people, or working to import stuff. If people don’t work, you don’t get the stuff they provide.

To a certain extent you can sell off assets abroad and import stuff using a trade deficit. But that doesn’t work forever, and you can’t import haircuts or clean floors or construction labour or nurse shifts. At a certain point work is needed.

Re:People kept working, became healthier while on basic inco... by munk-a on Thursday March 05, 2020 @02:10PM (#22496940)
Oh, so maybe we should fund UBI by just stripping out the capital gains exemptions that allow insanely rich people to get insanely richer.

Some people have more money than they need, it can be removed from them - the intricacies of how they got that money should be very carefully considered when it comes to structuring how UBI would be funded - but they clearly have more money in absolute terms. And that wealth is transferable.

Also, in the western world, we have enough of everything. No one starves in America because there isn't enough corn, they starve because they don't have enough money to afford it - no one is homeless because no homes could be built, they're homeless because nobody wants to pay for the home to be built.

These are all solvable problems.

Re:People kept working, became healthier while on basic inco... by Game_Ender on Thursday March 05, 2020 @06:43PM (#22499661)
I think the point is you cannot go infinitely far with that concept. Wealth allows you to get a share of the productive capacity of the world. Giving everyone a billion dollars does not automatically mean we have enough production capacity and land to have everyone live in a mansion.

Now we can certainly say that "hey maybe if these guys all didn't have such a big mansion or as many cars everyone else would be better off", but you have to be explicit about that. It's about taking away things people like and to put that effort elsewhere.

Re:People kept working, became healthier while on basic inco... by biggestdecision on Thursday March 05, 2020 @02:34PM (#22497211)
How do you transfer it though? If some businessman has all his wealth tied up in stock in his business, how do you convert that to money? Some other person has to buy the stock. All this does is move the wealth around.
Re:People kept working, became healthier while on basic inco... by munk-a on Thursday March 05, 2020 @02:39PM (#22497269)
Wealth taxes have been discussed in the modern political stage - but I'm a bit :shrug: about them - I think it'd be fine to continue to only tax capital gains when they're realized - so as long as that businessman can't effectively use any of his wealth he doesn't pay taxes on it - as soon as he benefits from his wealth he pays taxes on the accrued gains.
Re:People kept working, became healthier while on basic inco... by Ericson2314 on Thursday March 05, 2020 @05:43PM (#22499153)
It doesn't matter. You bleed them through inflation, VAT, whatever. The finance may be abstract, but at the end of the day money is claims for (future) economic output and you can dilute that as needed.

Some ways are better than other, but this idea that the powerful can hide their power through accounting tricks alone is a failure to think at multiple layers of abstraction.

Re:People kept working, became healthier while on basic inco... by simoninnes on Thursday March 05, 2020 @02:51PM (#22497417)
In other words, asset values are entirely conceptual and depend on a raft of parameters.
Re:People kept working, became healthier while on basic inco... by joe_fishfish on Thursday March 05, 2020 @01:55PM (#22496752)
Unfortunately the people at the top will do everything they can to stop this.
Re:People kept working, became healthier while on basic inco... by munk-a on Thursday March 05, 2020 @02:01PM (#22496821)
Getting this done may be quite a challenge, but it's a good thing to get done.

It's why this article is from the CBC, since Canada (while not perfect) is much better than the US in pursuing good things even if it hurts the powerful.