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Comment by vamur | Hacker News Reader

Basic income should be done like in the Expanse (e.g only for those with no/minimal income) and it should be dynamic - percentage based on the current economy size. It should also be spent only on domestic products to stimulate local economy. Otherwise, it will be another Ponzi scheme like the current pension systems.

Which would be a shame since it's a good idea and necessary due to technological advances.

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A basic income that isn't universal isn't basic income. The entire point is that everyone in society receives the same minimal amount, regardless of what other income they might receive. The reduces bureaucratic complexity and problems like the welfare trap.

No, the point should be to provide a safety net while not creating a Ponzi scheme or forcing working population into welfare.

That may be a valid approach. The parent comment is merely pointing out that your proposal is technically distinct from "basic income", and therefore should be labeled appropriately.

"Basic Income" is wrong idea imo. I'd rather see something like a "Public Dividend" that would redistribute corporate income tax revenue.

> "Public Dividend"

Interesting idea, thank you! While basic income is 'free lunch' with its value based on government decision, public dividend is calculated from revenue of tax paying companies, stimulating to understand that there is no 'free lunch'.

Most nations already have a progressive income tax (higher tax rates for higher marginal incomes). Adding basic income on top is effectively what you propose, but much simpler (cheaper) to implement.

It's certainly true that the basic income needs to change over time, but it should probably increase at the rate of inflation, rather than at the rate of the GDP. I suppose the latter might have some advantages, though, as long as a depression doesn't reduce the basic income, which would be completely counter-productive.

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