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Originally Posted by FlamesAddiction
UBI would eventually have to be at least partially funded by private industry through profit sharing. I don't think you can use COVID relief as a fair model for how it should work, but rather as an example for why a planned UBI would be beneficial.
There is really no practical reason for CEOs to be making billions upon billions every year never to be put back into the economy. Most of the capital sits idle and benefits no one. We used to put up with it because at least they were providing jobs. As automation improves and corporations keep actively pursuing ways to reduce employment while increasing profits, it's not a sustainable economic system. The government needs to ensure a strong middle class as it is the backbone of capitalism.
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Welfare programs can just as easily degrade the middle class.
The problems you're talking about, in terms of the highest percentage making too much money, have to do with the tax system. And I agree, it is horribly flawed. The biggest issue is all of these personal corporations that allow the rich to shelter their earnings in corporations paying 10-12% tax. The purpose of lower corporate taxes was to allow the corporations to invest money back into their business, not to have the CEOs store the money in passive personal investment accounts.
We'd be much better off looking at increasing the tax base of the wealthy. I'd also look into an estate tax of some kind. Once again, we'd have to deal with another major loophole with the "trusts".