Comment on Modern Monetary Theory: Musk Edition
Blue_Morpho@lemmy.world 12 hours agoMinimum 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.
Catoblepas@lemmy.blahaj.zone 12 hours ago
So? UBI isn’t a wage for work. It could be $300/month and that would still be a huge boon to struggling people.
Blue_Morpho@lemmy.world 12 hours ago
The UBI baseline is supposed to be $12000 per year. The premise is it covers food and shelter.
Catoblepas@lemmy.blahaj.zone 12 hours 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.
Blue_Morpho@lemmy.world 11 hours ago
Because baseline food and shelter is much more expensive in many cities where 80% of the population lives. That’s why minimum wage is $30k in major cities.