UBI like the equally destructive Minimum Wage incentivises people to demand higher wages and guess what higher wages do? They incentivise employers to hire less and invest more in labor saving technology. Then to make matters worse because the funding for UBI comes completely out of one of these methods of destruction:
1. Taxes-Employers cut back in the here and now thus reducing the number of wage earners
2. Inflation-Employers attempt to invest more in technology now to eliminate labor in the future

It can cause inflation, especially if the government actually *prints* money to pay people.

are you saying, that ubi will accelerate the doomsday robot ai scenario that ubi is touted as a solution for

🤔

Yes

See how the government fails to fix a problem, that isn't a problem anyways and it's been made worse due to said labour regulations and costs by the government, and makes it worse??

Autmation defo won't end like that, but it'll remove jobs

but create more

The problem with UBI, it may seem like a harmless activity but, this creates a disincentive to rejoin the labor force, because people believe the added income from a job isn’t worth the labor. Demonstrated very simply, if someone is currently receiving a total income of $1,000 through a means-tested welfare program, many will be less likely to seek a job which will result in similar income levels, as most prefer leisure to labor.

UBI won’t lead to inflation if it doesn’t change aggregate consumption, i don’t think | andrew yang wants ubi so people can spend more money and stimulate the conomy though

Yeah thats not good, spending does not really stimulate the economy as saving does.

Both saving and spending are good when done natural, but saving is the real deal

The inflation part comes from the points I listed and VAT

i don't understand how employers investing in technology to elminate labor causes inflation

doesn't it just cause unemployment

if the govt prints money to pay the unemployed people yes, but in ubi everyone is supposed to be getting paid the same anyway

isn't inflation caused when people have extra money, so much so that people are willing to spend more for the same thing

so prices can go up and people will still pay them

@Eno_ nah I mean the higher costs of wages will make them rise prices

Then they’ll try and invest in job killing things

To cut them costs

Price inflation and monetary inflation is different

Guys.

But if automation actually does happen it will result in such rapid advances in productivity that inflation won't be a concern

If productivity advances faster than average consumption, inflation will decrease

And a VAT-funded UBI, while not the only approach, would help discourage excess consumption with that money and instead encourage savings and investment, which would help address the problem of overspending

and eventually we need to give up on the idea of people needing to join the labor force. a human labor force will be obsolete, and we need to know that and plan ahead. so while maybe we dont need a ubi right now, we most certainly will need a money-based welfare program in place in the future, ideally right before it is needed

how did i get conservative and bnl got libgay

i want libgay lol

And @sɪᴅɪsɴᴏᴛʜᴇʀᴇ a UBI is by definition *not means-tested.* If you make $1k/mo and get a job paying $1k/mo, you double your effective income, as your benefits do not decrease at all.

talk to [some mysterious admin]

lol

not clear who

idk

maybe the guy with the most roles

And ideally, a completely automated economy with fairly-distributed resources is the best outcome.

yeah, communism is, in fact, inevitable, in fact id say technocracy specifically, but i dont think we're anywhere near that

ohno i just realized i said that on a trump server

this should be interesting