I'm always shocked how otherwise very rational and logical people tend to be "communists". It is one of the things that lets me down when reading comments on HN. So sophisticated as far as hard science goes, so naive and just - plain dumb - in terms of humanities.
Ever heard of inflation? If you give basic income to everyone what happens to the prices of everything? So the ROI on this is extremely limited and the price inflation will kill any benefit.
But still for some people rising prices with real unemployment at 15% is a good thing!
I'm always shocked how otherwise very rational and logical people tend think every socialist idea is communist and don't seem to know what communist actually means.
> Ever heard of inflation?
Yes, have you?
> If you give basic income to everyone what happens to the prices of everything?
I don't think you know how inflation works. Basic income doesn't increase the money supply, it's income redistribution, not money printing. Wealth is taken from those with excessive amounts and given to the rest.
2008 - 2012 money supply doubled. This means 100% inflation in long term - guaranteed. Who would care about their suggestions. Look at their actions and track record.
no, money printing is not inflation, money printing may cause inflation, income redistribution on the other hand is what is proposed and actually it is already happening(welfare programs, etc.), this basic income thing just wants to make it more efficient, it can even save us money!
Money printing is inflation because it will always end up in prices of goods and services. It's just a question of "when" and not "if".
Secondly, if you take money from the rich who would invest it to someone who will just spend it -- how this economically makes any sense is beyond me. We spent too much - that's how we got into the crisis. Now it is time to save & invest. Not to destroy savings and investments.
And thirdly, there are no poor in Switzerland, period. There might be some lazy young people who don't like to work and if their numbers are high enough and their parents are sympathetic to them, you are dealing with big group that you want to please before elections. So trying to make it economically sound (when it isn't!) is just pure propaganda for naive do-gooders.
It devalues money of the rich and of the poor. However, the poor suffer more in inflationary environment. If you spend 80% of your paycheck on housing and food, 30% inflation means you can't even provide to yourself. When you are rich end spent 8% income on housing and food, 30% increase will mean, now you spent just 10.5% of your income on housing and food. You need also to understand that rich benefit greatly from inflation because inflation will show up also in stock market prices (rich own stock), real estate prices (rich own real estate for rent), etc. Inflation is always poor getting poorer and rich getting richer.
Ever heard of inflation? If you give basic income to everyone what happens to the prices of everything? So the ROI on this is extremely limited and the price inflation will kill any benefit.
But still for some people rising prices with real unemployment at 15% is a good thing!