Viewing a response to: @hmushtaq/should-there-be-universal-basic-income
My problem is bnot with giving people money. My problem is where do you get the money to give them? Fiat currency, printed out of thin air and distributed will reduce the value of the money the working people are working for, that is robbing them. Taxing them from what they EARNED is also theft. The model here, at steemit, where it is drawn out of the reward pool is a little better, I am supporting that as I am curious if it can work. I suspect the day will come that it will become a drain on the reward pool and we will see flag wars over people getting the basic income, but maybe I am wrong. Time will tell!
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Well, money is a way to distribute scarce resources. If due to technology and AI, we are able to achieve abundance (think asteroid mining, vertical farming etc), then we could achieve a post scarcity economy. So, the main bottleneck is technology and resources, not money itself. The more technology and resources we have, the easier it is to implement Universal basic income.
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You could also look at it from the perspective of efficient financing. Where is the current money being spent? What if it was re-directed (toward UBI)? Might not money be saved in the long run? Although I find the theory of UBI fascinating, I don't think it gets anywhere until the old crop of politicians get ousted. Which, who knows, may be sooner than later.
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Yup exactly. You could also see a lot of money being pocketed by bankers who don't produce anything.
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