I never presumed UBI would be fueled by “printing money”, but by redirecting funding that we are already spending into something that has demonstrated better outcomes.
The sad fact is that the US federal outlays are trillions more than inflows and there’s no math that squares these numbers and allows spending more on UBI. Some UBI pundits suggest an AI dividend. But if we extract that as cash somehow, it’s still being paid by each person as debt. We are currently paying for basic entitlements and interest payments by printing money, UBI would be no different. There’s no taxation scheme that corrects this problem either. The real AI dividend is that it will make goods cheaper and cheaper until they are free. We can use better federal investments to subsidize some things until they become free and invest in advancing the automation to get there.
You might see some crossover here
https://open.substack.com/pub/oswald67/p/a-saving-grace-from-the-ai-tsunami?r=2r3au&utm_campaign=post&utm_medium=web&showWelcomeOnShare=false
I never presumed UBI would be fueled by “printing money”, but by redirecting funding that we are already spending into something that has demonstrated better outcomes.
The sad fact is that the US federal outlays are trillions more than inflows and there’s no math that squares these numbers and allows spending more on UBI. Some UBI pundits suggest an AI dividend. But if we extract that as cash somehow, it’s still being paid by each person as debt. We are currently paying for basic entitlements and interest payments by printing money, UBI would be no different. There’s no taxation scheme that corrects this problem either. The real AI dividend is that it will make goods cheaper and cheaper until they are free. We can use better federal investments to subsidize some things until they become free and invest in advancing the automation to get there.