Dr. Martin Hash Podcast

Basic Income is redistribution of wealth, which is a good thing, and the receivers of Basic Income, everybody presumably, are the correct recipients of the largess, but the question remains: who is providing the money? The most common strategy is that all other forms of Welfare would be discontinued with Basic Income taking its place, but most people don't receive Welfare but would receive Basic Income. Certainly that idea is incongruent with math. Basic Income is going to need a huge new source of revenue. Would the additional money needed come from The Rich in the form of steeply increased Income Taxes? But there are proponents of Basic Income who are simultaneously against Inheritance & Income Tax. The dichotomy of logic exhibited by these people has no explanation other than deep subliminal self-interest: they want Free Money but don't want to contribute any themselves.

Another plan is to tax machines. What? Machines have no money, and are they talking about my wristwatch & every other technological labor-saving device? Because that's what it would take to get the kind of money we're talking about. There aren't going to be armies of robots whose job is to pay taxes; only people pay taxes. Essentially, everybody would be taxed on everything so the Basic Incomers don't have to work. They want to take from people who plan for the future, to give to those who don't.