Universal Basic Income is Capitalism 2.0

Re:Universal Basic Income is Capitalism 2.0 by austincheney on Thursday July 30, 2020 @11:06AM (#23999043)

A serious distinction is that increased minimum wages incur a burden on employers which they pass around to their customers and business partners. The increase of burden is directly proportional to the amount of work of an hourly employee. UBI does not come from an employer and is not tied to an effort. There is no direct market burden, but yet an increase of cash is available none the less.

It should also be noted that inflation is not immediately present following a cash stimulus. It takes time for inflation to set in as a response to market conditions and as such inflation is measured as an adjustable change over a given period of time. That said specific single time examples of UBI not adjusting inflation only demonstrates a faulty understanding of economics.

https://en.wikipedia.org/wiki/Inflation#Issues_in_measuring

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Re:Universal Basic Income is Capitalism 2.0 by mamon on Friday July 31, 2020 @09:07AM (#24008215)

>> UBI does not come from an employer and is not tied to an effort

Where do you think government's money come from? Financing UBI will require raising taxes.

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Re:Universal Basic Income is Capitalism 2.0 by fragmede on Saturday August 01, 2020 @01:34PM (#24022317)

Money at the government level is not a zero-sum game, so thinking it's as simple as raising taxes is an oversimplification, and while unchecked printing of money is problematic leading to inflation, how the monetary base grows would need to be part of a well-considered implementation plan.

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Re:Universal Basic Income is Capitalism 2.0 by austincheney on Friday July 31, 2020 @11:23AM (#24009532)

For my thoughts on taxes please see my comment further down: https://news.ycombinator.com/item?id=24005134

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