RE: RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly
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RE: Andrew Yang's Siren Song of Free Money Will Cost You Dearly

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Hello bahh@bahh, and thank you for the feedback! Usually, places that try the UBI end up halting the program because it's not sustainable. In the case of Alaska, the permanent fund corporation is owned by the state and funded by oil revenues, therefore, they can afford to pay it out with no strings attached. As far as I know, they're not compensating for the loss with a statewide VAT either. So, that lets you know they have the money to do this in Alaska. However, when a nation doesn't have the money and has to impose a tax to make it so, then all those taxes are immediately passed down to the consumer at the cash register. I strongly question the feasibility of the program. Additionally, taxing people money to give them money doesn't make sense. Not only that, it opens the door for them to do the same with health care. They'll give people more money "free money" to pay for "free single-payer health care" and then they'll jack up the VAT even higher than before. As far as how people spend the money, I don't have any judgments about that, other than the fact it's stolen money just like all other social programs.

@thoughts-in-time: Hello @bahh, | Ecency