This isn’t a basic income at all, but rather a clunky and short sighted wealth redistribution scheme that would quickly end in each and every account containing an equal amount of currency.
First off, when redistributing wealth by any mechanism, be it taxes or BI or wellfare programs or whatever, one of the key things to avoid is changing the order of ‘who’s richest’. If you make a poor person richer than someone who was previously richer than that poor person, by what logic have you decided that that poor person deserves more than that rich person? The goal here […]
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