Universal Basic Income (UBI) means that each person is paid (by the government) enough money that they can afford food, shelter and even a carefully budgeted social life without the need for work. The extremely poor would be paid exactly the same weekly wage as the extremely rich. Where would this money come from? A tax on the obscenely rich of course.
Category: Ethics and Society, Money, Philosophy, Public AffairsTags: Amazon, Automation, Basic Income, Diminished Returns, Economics, Employment, Fairness, Happiness, Income Inequality, Income Tax, Inequality, Luddites, Minimum Wage, Philosophy, Robots, Socialism, Technology, Unionisation, Universal Basic Income, Wealth Tax
Figures from the World Inequality Report show that while the income of the US population grew by a total of 63% between 1980 and 2016, the income of the top 0.001% in the US over the same period grew by a gargantuan 629%. When we look at the global rankings, we see that, for the most part, the most equal countries are also the happiest and the least equal are the least happy.