[lakeshastina]

I think we should only expect this situation to get worse, and apply to a majority of society. This will then perhaps further incentivize the Govt to put in place some sort of a universal basic income type of program. This segment of the population is most likely to vote, so it will not be long before we vote ourselves all the money.

Thoughts? Comments?

[Retric]

It’s not UBI but Social Security is filling that role for the disabled and elderly.

[za3faran]

I think this is a symptom of no longer closely knit families. Many people from cultures that value family would never leave their parents to live alone when they reach retirement age. They would have them move in with them to take care of them. Pooling money this way (any retirement accounts, social security, etc.) plus income from the children goes a much longer way.

[mfer]

One of the problems is that many people have a lot of debt when they go to retirement age as well as a lack of savings. For decades, people spend more than they earn and it's a habit.

UBI in this environment means the gov keeps feeding the consuming beast.

Financial issues are one of the top causes for divorce, having trouble sleeping, and more. UBI doesn't solve for the any of this when people spend more than they earn.

I'm only pointing out the deeper culture problem around money that UBI doesn't solve.

[lakeshastina]

I believe the consuming beast needs to continually be fed, and this will be precisely one of the primary drivers of putting in a program similar to Universal Basic Income. Without this, the business impact will result in layoffs, etc which will need to be stemmed through such "stimulus" programs.

However, since this has become an ingrained habit, this cannot be a short term stimulus, and will need to be continued.

Inflation as a result cannot be ignored obviously, but I suspect this will be ignored, and will cause significant drops in people's standard of living, and create huge divide in the lifestyles of those who rely on UBI like programs, and those who do not.

[rhacker]

Where would UBI money come from?

[idiotsecant]

Money doesn't have to come from anywhere - see the record levels of corporate UBI that have been handed out in the form of quantitative easing for the last few decades, PPP 'loans', and tax hacks formatted to save these entities money. There isn't some bag that money comes out of and once you run out of it it's all gone.

There are certainly consequences to be paid when you do that, but so far we seem fine with those consequences when they benefit the most powerful among us.

[hcurtiss]

The result is inflation, which in effect is a highly regressive tax. That is not good policy. There is no free lunch.

[dragonwriter]

Its willed into being by the government, like any other money in a fiat money system.

If you are asking what will be done to offset the monetary effects of the additional government spending, then “increased high-end taxes, starting with taxing long-term capital gains the same as other income”.

If you are appealing to the myth of necessary fiscal balance in government operations, well, that’s a myth, but same answer as the monetary answer, to the extent anything is done.

[InitialLastName]

> “increased high-end taxes, starting with taxing long-term capital gains the same as other income”.

This, plus finding a way to make people update their cost basis (and pay capital gains taxes) on property that they want to use as collateral for debt.

[jonkho]

Prepare for permanent stimulus checks and permanent large annual inflation?

[lakeshastina]

Absolutely. Inflation will be the result (it already is, but will continue) and will likely cause significant drops in people's standard of living, and create huge divide in the lifestyles of those who rely on UBI like programs, and those who do not.