@[email protected] has movedMar 31

Many in Big Tech argue that the 'answer' to AI's social disruption is Universal Basic Income; but the Q. is: if that's the case how would you fund it?

For followers of Modern Monetary Theory, this may be the wrong Q. as the state *could* choose to create the money/credit to do so....

For mainstream economists the answer would need to be higher taxation....

But Big Tech only insist its not their profits that should be used to pay for UBI; so just more sociopathic economics, then!

#AI #UBI

Show threadRobert Pluim 🇪🇺
@ChrisMayLA6 I like the idea of UBI, and in small scale tests it has shown good results. I worry about what would happen if it got implemented across a whole country, would prices just increase to compensate (plus there are people who miss the point, and want UBI to only go to the "deserving")
Mar 31 at 9:14amTusky
Show thread@[email protected] has movedMar 31

@rpluim

yes, the issue of its impact on pricing & more vernally inflation is a key issue.... otherwise it would leave the situation where we are (if it had to be topped up on a means tested basis)

Show threadRobert Pluim 🇪🇺Mar 31
@ChrisMayLA6 Why would there need to be means testing? Just (ha!) set the UBI at the livable wage level😃 (this is where some people then say you need to change the tax system to claw back the UBI for people who earn "too much", thus bringing back all the paperwork that UBI gets rid of)
Show thread@[email protected] has movedMar 31

@rpluim

Yes, fair enough.... mind not completely on it - UBI & tax back works well

Show threadCassandrichMar 31
@ChrisMayLA6 @rpluim I'm not sure I get your concern, but the idea I'm familiat with and support is getting rid of all means testing by making UBI and basic services universally available, and instituting an income tax at 0% up to some threshold above UBI and increasing rapidly to a high % several times past that threshold. Rather than withholding it from people who "have the means not to need it", you just have them pay it back in taxes on the additional income they got in some other way.
Show thread@[email protected] has movedMar 31

@dalias @rpluim

Yes, see earlier answer in the thread; I should have indicated the UBI-tax combo was the best approach