In course of the recent discussion about Universal Basic Income (UBI), Dan Larimer, the genius founder of EOS along with a few other ground breaking blockchains, has come up with another philosophical piece on the fundamentals of wealth distribution, taxes and justice, published on Medium:
https://medium.com/@bytemaster/universal-resource-inheritance-505e7ca4d048
Where as i'd agree with the goal of this approach i don't believe it's realistically viable neither off chain nor onchain.
Check out why in my latest article on Trybe:
https://trybe.one/uri-why-universal-resource-income-wont-come/
It's actually "universal resource inheritance" fyi
The issue of appraising the value of your property is probably the most difficult. A harberger style or auction of shares in the property are probably the best options.
As far as your profits being cut by having to pay the tax, you are forgetting that you will be receiving uri as well and based on Dan's calculations, unless your individual net worth is over $300,000 you will be receiving more than you are giving up.
Ahm thanks for pointing out on the terminology! Of course the appraisal would be more easier in a tokunized environment, i believe on practical terms, this is was Dan is having in mind. As regards tax rates: Sure i am aware everyone would receive it, but from the point of view of the really wealthy, this isn't significant. And the question is also how you handle public or otherwise other not immediately ressources put tu use.
NAIRU is only going to get bigger. it's currently about 20% in most developed states. When it hits 30-35% that is when we are going to have riots and the like (historically shown to be the start point). A UBI is currently the only option on the table but that is because there is so little discussion about the medium term.
Sorry but what's NAIRU? you mean general tax rates?
NAIRU is an economist's term. It is the minimum amount of unemployed people required for capitalism to be able to function. If the number of unemployed goes below this rate then you get rapid wage inflation and and consumer price inflation. An easy way to look at it would be if all the unemployed people died tomorrow in 6 months time the same percentage of unemployed would come back. Other terms for NAIRU are "natural unemployment rate" and "full employment".
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