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by jjfreedom 2214 days ago
If the UBI funds are taken from tax dollar (aka force) then it doesn't matter if it "works" because it's immoral. If you are saying force is moral. Then we have bigger problems than $500 a month.
2 comments

UBI funds need not be taken from tax dollars. Taxes destroy money. Central banks create money. UBIs are funded through currency devaluation. Inflation, if edge cases are properly managed with cost controls (healthcare & education) and regulation (housing), is manageable.

We will print regardless (See: Japan, Fed, ECB), we're just arguing over which fiat bits end up in which accounts.

That's not always true, a UBI doesn't say anything about its funding mechanism. Some UBI proposals are indeed funded on tax revenues and thus revenue neutral.
Corrected.
Central banks only print paper, the money is created by creators of value, and about half of that volume of value is being taken away from them by taxes.
I think GPs argument is that the demand for dollars is so high that you can print them with few repercussions (inflation).
Precisely.
Inflation steals future opportunuties from those who save money, and it generally steals future from new generations to come. When a family opens a bank account for their newborn child to use it for paying for their higher education, they do it in a hope that this money will preserve its value.
This is how the modern economy appears to work. There is no guarantee of return on capital, or that capital must hold its value.

https://www.visualcapitalist.com/700-year-decline-of-interes...

https://www.stlouisfed.org/publications/regional-economist/f...

I think I've heard that argument made by a "sovereign citizen" once in a youtube video. It ended with them being tazed and booked by a police officer for noncompliance.