How do you feel about UBI?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There will come a time when AI evolves to a point where it has the ability to replace almost every job done by a human. At that point the only viable path for humans to survive would be UBI and universal healthcare.

How many years away is the U.S. from UBI?

I’d support UBI and basic healthcare now. If we can have billionaires, we can everyone’s basic needs met.

If we split all of Bezos' wealth, $260 billion, across 400 million Americans, that's a one time $6,500 payment. We don't have enough Bezos' for your scheme to work.

This is a brain dead take on PP’s post. I imagine you think you’re intelligent and self-made, but you clearly couldn’t think your way out of a paper bag.

You convinced me with your compelling argument based on facts. Let's take 50% from the billionaires and see how long they remain US citizens.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There will come a time when AI evolves to a point where it has the ability to replace almost every job done by a human. At that point the only viable path for humans to survive would be UBI and universal healthcare.

How many years away is the U.S. from UBI?

I’d support UBI and basic healthcare now. If we can have billionaires, we can everyone’s basic needs m
If we split all of Bezos' wealth, $260 billion, across 400 million Americans, that's a one time $6,500 payment. We don't have enough Bezos' for your scheme to work.

But it's free money! Too bad for Bezos, of course, but yay for the rest of us who did nothing to deserve it, and more than wealthy people are somehow liable for satisfying the wants and desires of others.

If you wisely invest that $6,500, it could yield $390/yr. Finally, financial independence.

However, there are about 800 billionaires with a total wealth of around $6 trillion. That's a *one-time* $15,000 payment for 400 million Americans. Remember, this needs to be invested, not spent immediately for continuing income. When do we go after the millionaires?

[Anonymous]

Besides the points that have already been made, most billionaire money is sorta fake. If you seize the stock in Tesla from Musk it’s not going to be worth much anymore.

[Anonymous]

UBI would be great for the oligarchs. You just put people on undesireable beaches and trailer parks then setup trinket and alcohol shops to siphon their UBI back into your pocket. Debtor prisons would also go well to keep any basic income strivers from pouting about lack of opportunities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There will come a time when AI evolves to a point where it has the ability to replace almost every job done by a human. At that point the only viable path for humans to survive would be UBI and universal healthcare.

How many years away is the U.S. from UBI?

I’d support UBI and basic healthcare now. If we can have billionaires, we can everyone’s basic needs met.

If we split all of Bezos' wealth, $260 billion, across 400 million Americans, that's a one time $6,500 payment. We don't have enough Bezos' for your scheme to work.

This is a brain dead take on PP’s post. I imagine you think you’re intelligent and self-made, but you clearly couldn’t think your way out of a paper bag.

You convinced me with your compelling argument based on facts. Let's take 50% from the billionaires and see how long they remain US citizens.

The billionaires are more than welcome to renounce their US citizenship and F—k off into the sunset. Seriously, don’t threaten us with a good time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There will come a time when AI evolves to a point where it has the ability to replace almost every job done by a human. At that point the only viable path for humans to survive would be UBI and universal healthcare.

How many years away is the U.S. from UBI?

I’d support UBI and basic healthcare now. If we can have billionaires, we can everyone’s basic needs met.

If self-made billionaires can invent and develop businesses which make them wealthy, everyone can meet their own basic needs for themselves. Envy is not a substitute for ambition, motivation, and personal effort.

Ok, so the people who understand economics don't want UBI and the people who idolize "self-made billionaires" (LOL) don't want UBI. Is that enough to get the AI-drunk tech bros to stop holding it out as a solution? No one wants it (much like no one wants AI).

[Anonymous]

Anonymous wrote:Besides the points that have already been made, most billionaire money is sorta fake. If you seize the stock in Tesla from Musk it’s not going to be worth much anymore.

This. Same is true for all the stock market "wealth" people have in their funds.

It's all a ponzi scheme. Chisel away at part of it, and it collapses on everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There will come a time when AI evolves to a point where it has the ability to replace almost every job done by a human. At that point the only viable path for humans to survive would be UBI and universal healthcare.

How many years away is the U.S. from UBI?

I’d support UBI and basic healthcare now. If we can have billionaires, we can everyone’s basic needs met.

If we split all of Bezos' wealth, $260 billion, across 400 million Americans, that's a one time $6,500 payment. We don't have enough Bezos' for your scheme to work.

This is a brain dead take on PP’s post. I imagine you think you’re intelligent and self-made, but you clearly couldn’t think your way out of a paper bag.

You convinced me with your compelling argument based on facts. Let's take 50% from the billionaires and see how long they remain US citizens.

The billionaires are more than welcome to renounce their US citizenship and F—k off into the sunset. Seriously, don’t threaten us with a good time.

Was your post sponsored by China's PRC?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Won’t UBI just lead to massive inflation like the pandemic payments did?

Inflation is a result of money supply. If the median HHI right now is $80k and the median UBI HHI is $50k...it will be deflationary. Maybe people will be able to earn more than $30k on side hustles, but probably not.

Of course, much of the theory on why UBI would be $50k comes from the idea that AI and robots drastically reduces the costs of things...a car will now cost 50% less if few people are needed to produce it and/or people stop owning cars outright and just subscribe to a driverless car service...food production won't need labor as robots do all the farming or meat packing or whatever...etc.

The problem is that everyone is very fuzzy on how UBI will work. Would seem that companies will need to be taxed at like 80%+ to support UBI payments.

That largely depends on where UBI comes from. If the government prints or borrows the money, it will be inflationary since the money appeared from nowhere. If it comes from taxes, salaries will stagnate. There will be more competition for certain foods, and some prices will up unless there is a change in the way that good is produced.

Taxing companies at 80% will see them quickly offshore. You will be forced to use an income tax.

Why would they offshore? You don't avoid US corporate taxes based on your HQ, but rather on where you derive your P&L (putting aside all the perverse incentives of the current US tax code which would have to be eliminated...you wouldn't allow all the pharma companies to avoid US tax by using Ireland as an IP tax avoidance country)...but in the AI world being discussed herein, you don't have have any employees or at least significantly fewer employees, so there isn't really anything to offshore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Won’t UBI just lead to massive inflation like the pandemic payments did?

Inflation is a result of money supply. If the median HHI right now is $80k and the median UBI HHI is $50k...it will be deflationary. Maybe people will be able to earn more than $30k on side hustles, but probably not.

Of course, much of the theory on why UBI would be $50k comes from the idea that AI and robots drastically reduces the costs of things...a car will now cost 50% less if few people are needed to produce it and/or people stop owning cars outright and just subscribe to a driverless car service...food production won't need labor as robots do all the farming or meat packing or whatever...etc.

The problem is that everyone is very fuzzy on how UBI will work. Would seem that companies will need to be taxed at like 80%+ to support UBI payments.

That largely depends on where UBI comes from. If the government prints or borrows the money, it will be inflationary since the money appeared from nowhere. If it comes from taxes, salaries will stagnate. There will be more competition for certain foods, and some prices will up unless there is a change in the way that good is produced.

Taxing companies at 80% will see them quickly offshore. You will be forced to use an income tax.

Why would they offshore? You don't avoid US corporate taxes based on your HQ, but rather on where you derive your P&L (putting aside all the perverse incentives of the current US tax code which would have to be eliminated...you wouldn't allow all the pharma companies to avoid US tax by using Ireland as an IP tax avoidance country)...but in the AI world being discussed herein, you don't have have any employees or at least significantly fewer employees, so there isn't really anything to offshore.

AI is almost entirely IP.

https://en.wikipedia.org/wiki/Corporation_tax_in_the_Republic_of_Ireland#Corporate_tax_inversions