Reply to post: Re: UBI will come - soon

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

Anonymous Coward
Anonymous Coward

Re: UBI will come - soon

"Assume I have a factory that can make electric toasters for £5 each, staffed entirely by robots, with distribution by driverless lorries. I have no staff. If every other factory works the same way, then none of us have any customers for our cheap toasters, as no-one has any income. Result - unsold toaster mountain."

In what way does making an assumption about a situation that does not exist anywhere, and never has existed, help make good decisions about economic policy?

"UBI is just a simple and cheap mechanism"

Except not remotely cheap.

"A key feature of UBI is that it is very basic. Enough for food, clothing, shelter and not much more. If people want more, then they work - but not 40 hours a week. For every pound they earn they will pay some tax, but they will also keep some of it."

Your maths isn't very good.

How much is just enough to live on? £800 a month at least?

So how much is the someone going to have to earn - working less than 40 hours a week, just doing the hours they feel like, and paying significantly less that 100% tax - to cover that £800?

And that's just paying their own UBI, what about all the other people not in the workforce whose UBI they will have to cover?

On top of all the other things our takes are still going to have to pay for - police, schools, fixing the roads, defense etc, etc.

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