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by general1465
40 days ago
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No wages -> Nobody buys stuff and services -> Companies are going bankrupt -> No taxable income from consumers nor companies -> States are going bankrupt. You can either go through UBI taxing automated work by 90%+ and pretend that capitalism is still a thing, or just nationalize everything and go with communism. Henry Ford understood this problem with his Model T and realized that if he wants to sell it, he also needs to pay workers to be able to afford it. |
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States (or their rule-of-the-strongest successors) always have means to not go bankrupt. They will simply pillage the survivors.