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by ue_
3185 days ago
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>The problem with your logic is that you would need an extra $3,000,000,000,000 ON TOP of the value currently paid out to the workforce Why? Those already making sufficient (i.e more) than the basic income wouldn't receive extra money. A proportional tax could be used to fund those who do not make the basic income to supplement them until the required amount is reached. For example if the basic income is $2000 and someone only makes $1500, then they would be given $500 each month, not $2000 as you seem to be implying. Those making $0 would be given $2000 each month. Massive taxes on unused land, extremely high "earners" and imports can help toward the goal of accumulating sufficient amounts. Laws regulating the rate of exploitation could also be introduced to lower the amount which each worker must be supplemented by if at all, capturing most but not all of the extra revenue made by the introduction of labour saving devices (also serving to reduce the rate of exploitation or stop its growth). |
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Why would these jobs even exist, anyway? The employees don't get a benefit from doing them(unless they enjoy the work, but then it's essentially a hobby, because your income does not depend on it). This should drive wages for jobs under the UBI limit up, e.g. why would a janitor agree to be paid $1000 if he can just do nothing and collect the same amount of money?
Since the work for these jobs needs to be done, businesses will need to provide some kind of monetary incentive for people to do them - e.g. you would have to pay people $3000 instead of $1000 to realistically entice them to work. The number might even be higher, because of diminishing returns in compensation(e.g. the first $1000 per month you get buys you food and housing, so you value it highly; once you cover the basic costs of living you start getting into luxuries, which people might value less).
What about previous jobs which netted $3000, but required qualifications on top of the ones you get for $1000? Why would people pursue these qualifications when they can now do the former $1k job for the same compensation? Would this not mean that you would need to increase wages for those people as well, in order to keep them working? This might have a lesser effect across career paths, but certainly within a single career path the upward pressure of the under-UBI jobs will force the over-UBI jobs to shift up as well - e.g. if you paid your "store worker" $1000 and your "store manager" $3000, the "store manager"'s salary now needs to go up, otherwise why would they take up the extra responsibility?
I'm not sure what the effect of this upward pressure on wages will be, but certainly some of it will be eaten up by rising prices - i.e. the supply of goods hasn't gone up but the demand would, with more available wealth in the population.