Quote:
Originally Posted by GGG
I misread, I interpreted it as you saying UBI would cause inflation and therefore eliminate its benefits rather than inflation would erode the benefits.
The answer to that is simply index minimum wage / UBI / any other government benefit to inflation as part of its implementation.
Then you tax excess to take money out of the economy to prevent inflation.
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Simply might not be the best word to use here, if it were simple we probably would have indexed minimum wage a long time ago.
I don’t necessarily disagree with your theory however it’s going to be very impractical to implement and maintain when you have governments for and against it running for office every 4 years or less.
I view UBI as little more than a political distraction to draw attention away from the real issues preventing greater equity in the distribution of wealth. Historically we’ve been able to reduce income inequality without a UBI, we
simply just need to change the policies that are currently restricting our ability to do so once again.