It wouldn’t decrease profits in any way, in fact it’d bolster them temporarily given how everyone has more money to spend. Companies will respond in turn to bump up their prices, negating any kind of increase in purchasing power (what happens every time minimum wages get increased), and once everything catches up and it becomes the new “normal”, profit rates will continue to drop as they always have.
Meanwhile the states will bleed money paying everyone UBI and go in debt even faster which would result in austerity, abolishment of UBI, or more excuses to cut other welfare programs. There’s a reason why there are pretty much no welfare states anymore.
You support UBI because it would create an utopia
I support UBI because it would literally destroy the economy
We are not the same
It wouldn’t destroy the economy, just the shareholders profit.
And that is the risk they signed up for.
It wouldn’t decrease profits in any way, in fact it’d bolster them temporarily given how everyone has more money to spend. Companies will respond in turn to bump up their prices, negating any kind of increase in purchasing power (what happens every time minimum wages get increased), and once everything catches up and it becomes the new “normal”, profit rates will continue to drop as they always have.
Meanwhile the states will bleed money paying everyone UBI and go in debt even faster which would result in austerity, abolishment of UBI, or more excuses to cut other welfare programs. There’s a reason why there are pretty much no welfare states anymore.