Reply to post: Re: UBI will come - soon

Universal basic income is a great idea, which is also why it won't happen

bombastic bob Silver badge

Re: UBI will come - soon

and if it DOES come, say goodbye to your economy. "the masses" will end up with mediocrity, and "the ruling elite" will always have "theirs". Separate the haves and have-nots by guaranteeing UBI and you'll keep all of those upstarts (who otherwise WOULD work harder to get ahead) "in their place".

But why is that?

Because, in order to PAY for it, you'll have to tax incomes at the worst possible 'progressive' rate. but "the rich" are ALREADY rich. You're heavily taxing people trying to BECOME rich. So you're heavily taxing those who have the POTENTIAL of being rich, but you're taking that opportunity away from them with the high marginal tax rates. And so they say "why the HELL should _I_ slave myself and get NOTHING in return?" So they stop working so hard, as it's POINTLESS. And so on.

And "the rich" get RICHER, because they ALWAYS do, and the poor get POORER, because, UBI.


POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2019