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Think of it: The government prints more money or perhaps — god forbid — it taxes some corporate profits, then it showers the cash down on the people so they can continue to spend. As a result, more and more capital accumulates at the top. And with that capital comes more power to dictate the terms governing human existence.
UBI really just turns us from stakeholders or even citizens to mere consumers.
Meanwhile, UBI also obviates the need for people to consider true alternatives to living lives as passive consumers. Solutions like platform cooperatives, alternative currencies, favor banks, or employee-owned businesses, which actually threaten the status quo under which extractive monopolies have thrived, will seem unnecessary. Why bother signing up for the revolution if our bellies are full? Or just full enough?
Under the guise of compassion, UBI really just turns us from stakeholders or even citizens to mere consumers. Once the ability to create or exchange value is stripped from us, all we can do with every consumptive act is deliver more power to people who can finally, without any exaggeration, be called our corporate overlords.
No, income is nothing but a booby prize. If we're going to get a handout, we should demand not an allowance but assets. That's right: an ownership stake.
https://medium.com/s/powertrip/universal-basic-income-is-silicon-valleys-latest-scam-fd3e130b69a0
(Score: 1) by khallow on Tuesday October 16 2018, @02:25PM (4 children)
Because that's not true. If I see ten cents of every dollar my business earns, what's in it for me? Remember one of the key arguments for UBI is that it reduces the risks associated with doing something new. Well, you have to consider the other side too for a non-hobby, the reward. Greatly reducing the reward for starting a business is very similar to increasing the risk. In the above case, by reducing the reward for starting a business by an order of magnitude is similar to increasing the risk by an order of magnitude, once you get to businesses that have profit potential much larger than the UBI.
(Score: 2) by sjames on Tuesday October 16 2018, @03:39PM (3 children)
If that's just not enough for you, don't do it. Someone else will. You can just keep it at hobby level or choose something else. But keep in mind that if you're in that tax bracket, those dimes on the dollar are probably enough to fund a fairly lavish lifestyle and my guess is that you won't want to give it up.
You'll whine and moan to your butler about how "hard" life is and "threaten" to give it all up, but at the end of the day your greed will drive you to show up tomorrow and keep doing it.
(Score: 1) by khallow on Tuesday October 16 2018, @05:22PM (2 children)
Why? High taxes hurt them as much as they hurt me. The sharply reduced reward still remains.
Unless, of course, they don't bother because the reward isn't worth the risk.
Meanwhile in other countries with a much lower tax rate, new businesses will start up which routinely form zero profit subsidiaries in high tax land.
(Score: 2) by sjames on Tuesday October 16 2018, @05:47PM (1 child)
Khallow is threatening to take his marbles and stomp off in a huff! OH NOES! Whatever will we do?!?
Oh, I know: "BYE BYE! Don't let the door hit you where the Good Lord split you!"
Hint: At one point, the Beatles were paying 95% in taxes. They didn't quit.
(Score: 1) by khallow on Tuesday October 16 2018, @06:56PM
Yea, right. [reddit.com]
Funny how there's always loopholes when these crazy high tax rates happen. So what appears to have happened here is that the Beatles got burned by these sky high taxes one year, took on competent tax advisors, and then only paid 30% thereafter.
That doesn't quite fit the narrative, does it?