Hacker News new | ask | show | jobs
by idibidiartists 3299 days ago
I believe UBI would lead to changing the fundamental nature of money as it goes from scarcity based to rate-of-flow based in its value basis. It will work as long as people who receive UBI spend that money, as opposed to horde it. That mens UBI should be given to people who have no other sources of income, not to those who will likely just accumulate it with no intent to spend it.
1 comments

There's a significant gap between the bottom end of people with other sources of income and those who will "accumulate it with no intent to spend it". Further, even if you give it to everyone across the board, most of the people who don't need it for basic expenditures and have no intention of saving for a big purchase at some point in the future (e.g. a down-payment on a car or house) would likely be making enough money that the UBI is less than their taxes.