Is Universal Basic Income the Answer to Automation?
What are your thoughts on this?
source: lifehacker.com
https://futurism.com/images/universal-basic-income-answer-automation/
https://www.thebalance.com/universal-basic-income-4160668
https://lifehacker.com/what-you-need-to-know-about-universal-basic-income-1825172737
https://www.wired.com/story/the-paradox-of-universal-basic-income/
Andrew Yang can stick his thousand $'s where the sun doesn't shine. This all just echoes the time when the silicone chip was invented heralding a new world of robotics. Companies overheads(workforce) where reduced massively while their production and resulting profit margins sky rocketed. Yet again we face the next step in automation just like we did then and Mr Yang believes $1000 per month will be enough to appease the mahoosive issues this is going to cause. Just another pawn to smokescreen the obvious impending doom.
The 2nd part to the documentary below is a debate between people just like Andrew Yang who had the same decisions to make as he does now. Watching this in retrospect I found it chilling to hear them talk about the the possible consequences
In theory, yes. But the really hard question remains: Who will pay for it?
Financial transaction tax probably.
Actually, I would cut off all other social expenses like unemployment insurance, pension, etc. (with the exception health insurance) and replace it with the UBI. This will also save some administration costs.
Also reducing poverty and increasing the whole national income is one of the smartest investments you can make. Consumption will skyrocket and thus the national economy will prosper. Think of the other positive effects that poverty reduction has like falling crime rates.
Since the UBI is proposed as the answer to automation, we still have our economic productivity provided by the machines. But who shall receive the value created by robots? Only the machine owners or should all people benefit from it in the same way?
There are also some statistics from the US showing that although the overall productivity level has grown over the years, the worker's compensation didn't. So we're creating more value without getting the adequate money for it. UBI is a matter of justice to fix that.
And finally the costs of a UBI turn out to be way lower in the end because at the moment we're often just looking at the gross price tag instead of the net transfer amout. This guy did the math and the whole cost thing turns out too be way less scarier than expected.
Most of the money will come back through taxes I guess. Also, there would be lots of savings in government bureaucracy with UBI
Naturally, the savings won't cover the costs. So any implementation would have to be accompanied by raising some taxes - preferably such that target the upper class, because if you tax the middle again you basically take away a part of their UBI again.
Now, taxing the upper class and especially multi-national corporations is something many people are trying without success for quite some time. I think we will have to solve this problem first before implementing UBI.
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