Comment on Modern Monetary Theory: Musk Edition

• Blue_Morpho@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

  Minimum wage in many US cities is $15/hr which is $30k/year.

  Even at federal minimum wage of $7.50, that means not just taxing Billionaires at 100% but taking everything will give you 2 years of UBI before there is no money.

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  • Catoblepas@lemmy.blahaj.zone ⁨2⁩ ⁨weeks⁩ ago

    Minimum wage in many US cities is $15/hr which is $30k/year.

    So? UBI isn’t a wage for work. It could be $300/month and that would still be a huge boon to struggling people.

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    • Blue_Morpho@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

      The UBI baseline is supposed to be $12000 per year. The premise is it covers food and shelter.

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      • Catoblepas@lemmy.blahaj.zone ⁨2⁩ ⁨weeks⁩ ago

        So why did you inflate it to nearly 3x that amount while arguing about how it can’t work because it’s too expensive? $1000/month is still a lot of money for people.

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