This reminds me of arguing with a coworker once. I was saying we essentially have basic income for the wealthy. If you have a million dollars, you can turn that into ~$45k year with just high yield savings accounts. No risk. It’s insured.
He was like, “But they’re taking risks with their money so that’s not the same.” I was like, “No risk. It’s insured.”
He was like, “But that money is being used on stuff. The bank invests it to start businesses.” I was like, “If you just give money to poor people, they will spend it, and support businesses, and in better ways.” But then we had to stop talking about it because we were at a work event. I think he started to reject the premise that poor people buying groceries is better for the economy than a bank investing in Snapcat (it’s snapchat, for cats!), or whatever.
This reminds me of arguing with a coworker once. I was saying we essentially have basic income for the wealthy. If you have a million dollars, you can turn that into ~$45k year with just high yield savings accounts. No risk. It’s insured.
He was like, “But they’re taking risks with their money so that’s not the same.” I was like, “No risk. It’s insured.”
He was like, “But that money is being used on stuff. The bank invests it to start businesses.” I was like, “If you just give money to poor people, they will spend it, and support businesses, and in better ways.” But then we had to stop talking about it because we were at a work event. I think he started to reject the premise that poor people buying groceries is better for the economy than a bank investing in Snapcat (it’s snapchat, for cats!), or whatever.