I don't know how relevant this is now, but here's a link to another post where I expressed my thoughts on what kind of pitfalls you might most likely face -- https://lemmy.world/post/36867409
By the way, what is this phenomenon on Lemmy? Let's say people are reluctant to read and comment on old posts published just a couple of days or a week ago, but with new ones, it's a completely different story. What kind of psychology is this? Or it seemed to me?
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads/AI Slop
No advertisements or spam. This is an instance rule and the only way to live. We also consider AI slop to be spam in this community and is subject to removal.
A collection of some classic Lemmy memes for your enjoyment
If you give out money the people who own stuff (rich people) will just increase prices and take all that money.
Increasing the money supply does lead to inflation, but it's not as simple as you make it seem. It's worth pointing out that generally people intend UBI to redistribute money rather than add to the current supply. If necessary, there's no reason that you can't have stronger price regulation for any destabilized industry.
Because even if there is inflation, that doesn't mean prices go up evenly. For example, staple foods are fairly insulated from inflation because of steady demand and low barriers to entry. If it seems noticeably profitable, a lot of people can start producing it and undercutting each other. Industry collusion is very hard to achieve the more players there are that can sabotage the group.
If UBI covers only basic needs (implied by the B) that are purchased at steady amounts regardless, that opens up the lower classes to a lot more optional spending. So you would probably see the most price increases on things that are currently bought by the upper middle class. Expensive hobbies, premium brands of things with cheaper alternatives, and services in general would probably become more expensive from induced demand.
I agree and my reply was a bit short and incomplete. I'm mostly worried about things like housing and infrastructure. Very expensive and mostly privatized. With that also access to the workers and companies that can actually build stuff.
Those people should be taxed more really. Personally, I believe every dollar over $1 billion should be taxed at 90+%. I would set the threshold for scaling those tax brackets much lower than that though.
Billionaires should be banned from using their stocks as collateral for loans as well.
Definitely
So, why don't they do just increase all the prices now?
Because people can't afford it?
If you print £100 and give it to every person, then yes. But if you tax every person with progressive taxation so that the poor pay little or no tax, and then give everyone £100 using the proceeds, no, because you are changing the distribution of resource-allocation-units between the people who had the most and the least of them previously.
Yes, but the free money that is given out is typically obtained by taking it from the people who own stuff.
That would be great but it's usually not the case (look at COVID, the banking crisis in 2008 etc). The money is not coming from the rich.