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Are we the baddies?

(geohot.github.io)
692 points AndrewSwift | 1 comments | 06 Jul 25 05:36 UTC | HN request time: 0.208s | source
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hardwaresofton ◴[06 Jul 25 07:54 UTC] No.44478703[source]▶
> If you open a government S&P 500 account for everyone with $1,000 at birth that’ll pay their social security cause it like…goes up…wait who’s creating this value again?

This is a good point. Some VCs were major proponents of this (and tons of other business people I'm sure), but this is of course just a guaranteed inflow into the largest companies and the companies that think they will be large some day. Yet another way to reallocate public cash to private companies.

Another similar example is UBI -- its proof of an economy that is not dynamic. It's a tacit approval and recognition of the fact that "no, you probably won't be able to find a job with dignity that can support you and your family, so the government will pay to make you comfortable while you exist".

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tossandthrow ◴[06 Jul 25 08:41 UTC] No.44478933[source]▶
> make you comfortable while you exist

I don't think there are many proponents of that type of ubi.

The way, at least I, see ubi is absolute subsistence - with a right to earn above that without affecting your subsistence.

IMHO something along UBI is needed for a democratized market economy - and I think the Scandinavian countries are the support for this claim.

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al_borland ◴[06 Jul 25 10:30 UTC] No.44479465[source]▶
If everyone gets an equal raise (whatever the UBI is), wouldn’t the entire market simply adjust to price that in, leaving everyone in the same relative position?
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1. Rebelgecko ◴[07 Jul 25 21:28 UTC] No.44494847[source]▶
My intuition is that it wouldn't change the ranking of people's wealths, but it would make a big difference in the ratio between a top 10 percentile income and a bottom 10 percentile income

Edit- although even that is an oversimplification because I think in some cases it might encourage people to make more money. I know a handful of people who intentionally limit their income because of gaps in means testing. eg there's a window where you start making too much to take advantage of some govt social services, but not enough to pay for those services yourself (healthcare is a big one)