Thursday, May 3, 2018

A discussion at TRNN asked if a universal basic income were Progressive or Regressive?

My comment:

"What do you think of this basic income, and is it progressive or is it a regressive tool?" 
Her answer already says it's the wrong question. The right question: does basic income change the balance of power in that a few people become more powerful? The answer is yes; the people charged with the power to collect and distribute these monies become more powerful. Further concentrating power is dangerous because those in control will never give up power and eventually power corrupts their original good intentions... just look at the U.S.... many social problems intended to assist/benefit the needy/low income are under constant assault by politicians of both major parties. Instead of creating (political) solutions to inequality (collect and redistribute money), change the system so capital is distributed more equally in the first place. 
"...the idea is that, if the minimum wage were eliminated, then hiring workers would be less expensive and firms would be more likely to hire them, as opposed to investing in labor-saving technology." 
Robots do not eat food, buy shelter nor wear clothing. No-income people cannot eat food, buy shelter nor wear clothing. How do robots which don't earn money and people without money build a functioning economy which requires movement of money? Mass automation will create a class of people without access to traditional money who survive through an underground economy, likely with a lot of bartering... the implosion of capitalism.

This is a huge error in reasoning on part of the interviewer!

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