RE: This Post About Universal Basic Income May Shock You!
@penston great post. I wish these type of posts were more visible than the hundreds of spam post going around, but I digress.
I agree that giving people a Universal basic income is not going to help society as it currently stands. I often forget that the prices of items is often more what people can afford to pay, than what they "should" pay. As you stated, if we have an increase in wealth, the prices of goods will also increase, as the "owners" that control these businesses see that people can afford, and are willing to pay more, due to an increase in their money supply.
An asset based tax would be a natural extension of the land tax that you are proposing. I think for these types of taxes to work, you really need the entire world to agree to it. Otherwise there is such a high incentive for people to just leave the country or set up tax havens elsewhere.
One possible (and probably unlikely to be successful) option is to have the government own all the major services and providers, and essentially cap the prices that they would charge consumers... But this route has not proven to produce good results in the past....However, automation may change that??
If you are interested in basic income, use chainbb.com. I set up the f/basicincome forum there to capture all posts with basicincome (or UBI etc) as the first tag. It's a great way to see ubi specific posts and also see active threads.
Australia used to have a federal land value tax from (I think) 1909 until 1953 (I'd look it up, but it's 1am now). The ACT still uses it and Turnbull called on the states to implement it earlier this year.
If rent seekers leave the country, then it's no loss. In fact, I'd say we're better off without them.
Productive people and companies won't leave because they're keeping a larger share of what they produce. Do you think that the heightened levels of economic inclusion might attract businesses into the country?
@penston Did not think properly about it until I read your comment , and now that I do I just realized you are right. If we are less with people who are productive and contribute something that would be quite a country
Inclusion is the goal.
I read a quote this morning which said “a goal without a plan is just a wish.” It’s still worth wishing for.