No, the UBI will destroy the economy. You should learn to distinguish between (fiat) money and things who are actually worth something. Also, to force everyone to pay the UBI is simply extortion and has nothing to do with Libertarianism. Could go on and on with that, but I had more than enough discussions about this topic.
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The delusions that libertarian values can be switched on are laughable. The idea is to ensure a way to get a slow and steady free economy. Since the tax we pay now is ridiculous, having that distributed towards a UBI and not at WAR, Pensions and other areas of waste from government..... is a slow and steady transition to more liberty.
Then let's get to the economic facts. The UBI isn't possible to realize if you don't add a "max wage cap", which would mean that X people would have to work more or as hard as before without any advantage, this will lead to a lack of incentive to work as much, thus these people are going to work precisely as much as the wage cap allows before their hard earned money gets redistributed to people who don't work at all. Secondly, if you just say everyone gets $X per month, why shouldn't the inflation and prices rise accordingly? When is the point the inflation is not anymore controllable by the govt and mutates into hyperinflation? How much does the FED have to print to keep this bubble alive? How much more govt regulations would have to be in place? Who will pay all this? Why shouldn't the govt grow faster than ever? The UBI is socialism, if you work and even dare to get or be better than others you get punished.
I wonder if you read the above? or just skim read. At the moment I live in a country where over 50% already receive a benefit of some nature and the rest of us.... would never wish to lower our pay packet to that amount.
How much is it? that is a question for another article. Personally, I would take the amount a country spends now plus waste and distribute that overall over 15-year-olds. For New Zealand that is almost 200 a week and enough for a person to ensure they don't starve.... which is the point of the psychological findings, we are now discovering about productivity and intrinsic motivation.
I.e lets say I earn a flat 200k a year. The additional $200 a week is nothing for me, I would probably donate it. This is similar to pensions of today, they are for everyone and even the super rich get them.
Again.... if you read the article, inflation is the point I wish to use to leverage long-term liberty over short-term accessibility to food and shelter.
Since you are obviously in America. Just your military budget alone could give every person $33 a week and do the rest of us a favour. I visit your country often... I could live on food of $33 a week, which you could almost double that with your current social welfare and redundant enterprises. So even a country like America.... could do $60 bucks USD a week, which is almost a hundred for me and I could live on that for 2 months while I got myself in order.
See... socialism is about living on the welfare of others. This is a mass insurance scheme to ensure your needs are met... to allow you to move forward
"I wonder if you read the above? or just skim read."
Read everything.
"Since you are obviously in America. Just your military budget alone ...blablabla"
I'll take this as a compliment, but I'm actually not in America nor am I an U.S. citizen. And yes, fuck every standing army, don't care which country extorts their citizens to play war games. Don't know either what the fuck this has to do with the economic impossibility of the UBI though.
Hi,
I wanted to share with you interesting article that shows how UBI could be funded in USA:
https://medium.com/economicsecproj/how-to-reform-welfare-and-taxes-to-provide-every-american-citizen-with-a-basic-income-bc67d3f4c2b8
I hope it will answer some of your doubts about inflation and who pays for all this.