>No one here is arguing that a basic income should be paid for through inflation.
Actually, I kind of am!
I suggest that we absurdly just give $1MM to everyone and ask what would happen to prices. They'd skyrocket of course. But what else would happen?
Consider an economy with just 2 people. One with a net worth of $7500 and the other with $10MM. Give them each $1MM. What happens to their wealth relative to each other? The less the first guy has, the more it does for him. (Even if its done simply by "printing money".)
"Give everyone a million bucks" doesn't seem so outrageous to me after all. Sounds like swinging a giant scythe at inequality if you ask me.
Its like a fine work of un-dodge-able flat tax and a social safety net all in one. This is why I like UBI.
Actually, I kind of am!
I suggest that we absurdly just give $1MM to everyone and ask what would happen to prices. They'd skyrocket of course. But what else would happen?
Consider an economy with just 2 people. One with a net worth of $7500 and the other with $10MM. Give them each $1MM. What happens to their wealth relative to each other? The less the first guy has, the more it does for him. (Even if its done simply by "printing money".)
"Give everyone a million bucks" doesn't seem so outrageous to me after all. Sounds like swinging a giant scythe at inequality if you ask me.
Its like a fine work of un-dodge-able flat tax and a social safety net all in one. This is why I like UBI.