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by JDiculous
3502 days ago
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I think that's the one thing that needs to be addressed more from basic income advocates. Basic income alone will simply lead to inflation of housing prices in artificially supply-constrained areas like NYC and SF. Basic income should be coupled with government initiatives to increase the supply of housing (eg. zoning and regulation changes to allow increased density, subsidizing non-luxury apartments, land value tax). |
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It's not clear that this will be enough to offset inflation, but the truly excellent Basic Income subreddit FAQs [1] addresses inflation specifically, and in essence there has been little to no evidence of it in practice.
I personally have always been a fan of Henry George who not just advocated an LVT, but suggested that this should be the only tax - all other taxes were unfair. I realise I am in a minority and some taxes can help with social/healthcare issues (e.g. on tobacco and alcohol).
That said, UBI with a rigorous LVT would be my ideal. Alas, voters utterly despise both, at least in the UK, so it's unlikely we'll see either any time soon.
[1] https://www.reddit.com/r/basicincome/wiki/index