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Universal basic income (UBI) sucks. We all get 24 hours, every single day, for years. If a person can't figure out how to trade that time for a living, or if they choose not to, giving them $1000 every month will only exacerbate their problems.
They don't deserve the money, because they don't know how to use it. Just like their time. There are parts of this country where $12k/year is sufficient to live. These people will be disincentivized to work. To be clear, I'm arguing against UBI, not a social safety net.
This is better than Yang's UBI. “The Worker’s Wage: An Alternative to Increasing the Minimum Wage Which Helps Low-Wage Workers…”https://link.medium.com/0lZb5dQly0
While I don't think UBI is a good idea, I do think it's worth a try. Perhaps the federal government could draw an American city of 100,000 people out of a hat and announce that in 2 years, all 100,000 people currently living there will get $1000/month for 2 years.
If you give everyone cash, you can't track how the money is spent. If you give them a debit card, they can still use their non-UBI income to buy drugs, alcohol, useless crap. In any case, I find it difficult to believe that a society that can't teach it's people to use a credit
card is going to thrive with those same people getting a cash handout monthly.
Did you grow up rich or in a two parent household? I don’t know how else you could explain such a facile understanding of poverty.
Instead of ad hominem bullshit you could tell me why I'm wrong.
Prices will rise. It won’t increase purchasing power.
At least it will be in the hands of the people instead of the crony capitalists, see "cantillion effect"
The only advantage I can see is if it replaces the complicated scabrous edifice of welfare progeams we have now. But that won't happen, because if you give people $1000, some will spend it on hookers and blow and still be destitute. And we won't just let them suffer their choices
Yangs UBI won't. People can choose between UBI and their current welfare benefits.
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