Wouldnt UBI cause hyperinflation?

the real question you should ask is that now that people dont need to live in specific areas because they are tied to their job what stops the person you are currently gouging monthly from just pissing off to the middle of nowhere where rent is super cheap?

A thousand dollars is not a lot of money. It's enough to make a difference, but you're not suddenly a millionaire. You'll still be looking for good deals.

what the fuck im getting yangpilled

The goal is to speed up societal collapse retards

What? There is an established base line for what peoples incomes are, and rent the prices of goods & services revolves around that. If that is suddenly raised by $1000, every one is going to adjust accordingly.

this is exactly my plan to use my yangbucks to go innawoods

Internet SUCKS out there.

Maybe it'd be good to get some of you fuckers away from shitposting for a minute, but I imagine people will still live someplace where they'll need more than $1000 to survive every month because most people want some amenities like that.

t.brainlet

Is this the secret of Yang Gang? They're butthurt Bitcoin miners trying to salvage their portfolios by causing inflation?

Oh some people actually think this.

No, prices are set by what people are willing to spend, not by magically reading how much is on your paycheck.

It depends on the demand, and what dictates that is how good of a product you have (the location, quality of the building) and if they can find something else at a better price, or better quality.

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Yeah and way more taxing of the middle class than what a new $1k a month gives them lol

Depends where it comes from. If you just added it to current spending then yes. If you reduce Medicaid, Medicare and welfare programs because they're not needed under UBI then no. Spending stays the same but it's more evenly and fairly distributed among everyone.

>No, prices are set by what people are willing to spend
Yes, and what people are willing to spend is based on their income.

Has anyone ever tried this in a game with a large user base and an in-game economy?

Friendly reminder

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So, it's not a general tax on every person. It's a VAT tax, or "value added" tax. There's a full explanation on Yang's website, but tl;dr, it's almost exactly like a sales tax, but it is much more difficult to use lawyers to get out of paying. So basically, it's a way to get businesses to actually pay the taxes we've decided they should pay.

Second, it will benefit the middle class, because middle class people own moor businesses than poor people. If poor people have more money to spend, that money flows through the economy more.

I'm not a communist, I don't want to have everyone be equal or even mostly equal. I just know that people being in debt, or unable to handle a sudden $500 bill is actually really be for people like me in the middle class. They become a burden, when they could become a stimulus to the economy through their increased purchasing power.

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It would definitely cause prices to change and inflate but ultimately it wouldn't matter because the $1,000 would still have value. It would probably be more like $500 than $1,000 desu. It's literally just wealth redistribution. The things I would be concerned about would be the machinations the wealthy, en masse, would use to wiggle out of having to pay.

Kinda? So you know those awful free-to-play mobile games like Clash of Clans?

They give you a free daily bonus just for logging in. That's essentially the dev giving you free money. Why? It's to keep you playing the game.

If you get raided and lose all your stuff, you might feel like quitting, but if you always have a baseline of materials to restart from, you might feel like trying again.

Considering how many blue collar workers killed themselves or left the workforce to go on welfare after their jobs went overseas, that seems like an apt comparison.

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If I have more money, I'm going to spend more of my money, sure, but I'm still going to hunt for the best deals.

My landlord would be crazy to raise my rent unless she's colluding with every other renter to make sure they also raise their rents.

There doesn't need to be a "land lord mass collusion"

If you give people more money, then they are willing to spend more - the market responds to this by saying "people can spend more" and as a result raise prices. It's exactly the same thing as what happens when minimum wages slowly go up over decades, the price of all goods and services adjust.

go innawoods, buy $1k in ammo every month
i am yanggang now

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the notion that bitcoin is an investment or a get rich quick scheme is the reason it hasn't caught on as a currency yet...

The point of owning crypto isn't to make money off of inflation, it's so you can exchange money without the oversight of banks or governments.

If you want to hedge your bets against the economy buy precious metals, not bitcoin.

Retards voted for free gibs in the form of exceedingly high minimum wage with the whole $15-20 an hour faggotry and you see how that turned out. Now they work far less hours if they’re lucky enough not to be fired. Anyone who thinks this “TOTALLY FREEGUIZ XD $1000 YANGBUCK” isn’t going to detrimentally effect the economy (eitherby nefarious corporate practice or political enabling) is a legitimate retard who truly deserves the bullet they have coming to them if there’s ever an actual happening.

Yeah, if everybody has 1k minimum, 1k becomes essentialy zero.

Hyperinflation doesn't affect me since I have no money. Get rekt boomer jews.

>I can't buy a fucking clue as to why people would support something that obviously hastens collapse

Growth for the sake of growth is the ideology of a cancer cell

Its not everyone its just Americans. What's to stop me from using yangbux to buy a cheap apartment in Asia where the exchange rate is good?

That's how it works.

To help poor people you have to make prices go down. And you do that by increasing supply of real goods and services.
You can do that through subsidies.

No, quantitative easing does that and it's been happening since the 2008-ongoing till perpetuity bank bailouts, except that's the biggest transfer of wealth from the poor and middle classes to the 0.01%-ers in recorded history, whereas ubi wouldn't even put a small dent in that because 1000$ is fucking nothing.
youtube.com/watch?v=3UstNBrmJFc

Really? Because wages have been stagnent, yet the cost of living has gone up. I'd wager minimum wage is not the cause.

>our money is fake and built entirely on debt, and the banks can make more money just by pretending they have more
>the cause of inflation must be those poor fuckers having more money than yesterday. I am very knowledgeable about supply and demand.

I hate these people.

>Really? Because wages have been stagnent
No it hasn't.

possibly the most idiotic thing I have read today.
OP is correct. Base price is now $1000 because everyone has it.

>be Yang
>tax the """rich"""
>meaning everyone making more than $100k a year
>kills off small business
>big business takes a hit but survives
>Yang hands out monthly Yang bucks
>Bug business wants to recover money lost in taxes
>increases prices to account for Yang bucks taxes
>$1000 no longer helpful
>took 30 days

You want to help the poor? Stop pumping in unskilled labor and stop handing out college loans for bullshit degrees. You want cheap healthcare? Stop letting big pharma, hospitals and insurance companies collude to pump up prices. Commies keep saying capitalism is bad....it isnt, but it has been dead in the US for about 30 years. Instead we have a oligarchy parading around pretending to be a republic. Look at the last election, Im no fan of Sanders but he got way more votes than Clinton but she was the connected one and ignored the will of its voters, going so fsr as to call the primaries "ceremonial with no legal binding." Hell their conference was a fucking awards show. The GOP tried its damndest to stop Trump, going so far as to have former President G W Bush support Clinton! You think that isnt corruption within the system? No charges from the FBI on "extremely careless" handling of top secret info? Not just for Clinton but for anyone involved???

The republic is dead and we are in the middle of a civil war. Its not a shooting war, but a war none the less. The battles are being fought here in cyberspace. The people are losing.

Compared to productivity. So wages haven't been rising as much as they should*

(*where they "should" be, I acknowledge is debateable)

I dont even think it is real. Israel gets billions in UBI and they don't have inflation.

Hey did you know prices go down when the cost of labor goes down? You know what is rapidly driving down the cost of labor? Automation!

UBI is not based on nothing, it's based on the fact that we ARE producing more and more real goods.

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Modern economics is beyond complex nowadays that it's kinda hard to say what the exact consequence of UBI is.
For example, in the EU, the banks have been creating millions of euros out of thin air for years now, but somehow money still has value and prices haven't really changed over the years.
It might cause inflation or hyperinflation sure, but it's kinda hard to predict.

dose giving 60 billion to Israel cause it?

Whats cheaper?

1k for each american or billions for Israel?

You can still have UBI can get a job right?
What if I want both

Fwiw, Yang is a huge capitalist, and denies claims that a UBI is socialist. "It's capitalism where you don't start at $0."

We all know the phrase "you gotta spend money to make money" right? Starting a small business is at a multi-decade low these days, but if you weren't totally in financial ruin if it failed, I'd wager more people would be willing to take that risk.

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and*

>$1000 is barely enough to pay rent in most places

People will want to be able to afford other things, so they'll find work or make their own businesses, but won't become a sudden burden if they get fired.

The social consequences are more a concern thsn economic ones.
When people can just rely on government for their needs there is no reason to depend on others or cultivate relationships. We already see this with the rise of single moms.

Without the need of a job or family suuport people have no need to build character or become a decent human being?

Seen how trashy people act in ghettos? That eill only increase.

This is the only good concern I've seen, desu. The philosophical/societal impacts are a much more interesting question than "will it work?" (Because let's be honest, I don't think things "work" very well right now anyway)

I guess my hope is that if people had the freedom to maybe not work as many hours each week, because robots are picking up the slack, then we'd actually have time to hang out with friends.

I try to have adult friends, but it is SO HARD to work around each other's schedules.

(Wtf, the desu was an autocorrect i meant desu)

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Oh. I get it.

Does the current welfare system cause inflation?

Yes.
Plus a value added tax guarantees an increase in inflation in the first year it’s implemented.

Under. Fucking. Rated.

AND it allows more people to start up the businesses they want, which will only stimulate the fuck out of the economy. Our standard of living and happiness would go the fuck up over night.

>AND it allows more people to start up the businesses they want
No because VAT will eat extra income

>Our standard of living and happiness would go the fuck up over night.
No, because welfare in at least 10 states pay more than double in welfare than UBI.

>Growth for the sake of growth is the ideology of a cancer cell
If the population grows but the ecoonomy doesnt grow with it you gonna have problems. So there is no "Growth for the sake of growth"

And like a cancer cell, unsustainable. You either have to have an infinitely increasing marketplace, or periodic devastating market crashes.

Dumbass. Aggregate demand increases as you increase purchasing power of consumers as they will naturally consume more. Price elasticity of demand will cause goods to increase in price as demand goes up, thus causing inflation.

>You know what is rapidly driving down the cost of labor? Automation!
A pipedream bc automation isnt reapidly coming into effect in 2018/2019. in fact it is fucking dwarfed by the effect of immigration.

Welfare incentivizes people to stay poor, because you lose your safety net if you get too much money.

I'd rather everyone have a baseline to fall back on. Not enough to live comfortably, but enough to lure people into risks like moving for a new job or starting a business.

>in fact it is fucking dwarfed by the effect of immigration.
Exactly.

and he will add 20 million new americans with an amnesty and allow pro-migration policy on top of that. Who will pay for these immigrants? Not the other immigrants! The old americans will pay.

Please notice that rent is already going up and people are struggling to live

>I would rather pay double in taxes so that I can get extra money to pay in taxes

user.

>muh saftey net
user, you said it will raise the standard of living and increase prosperity. Welfare in many places is double UBI and has not done that.

Pathetic attempt at a pivot.

Yang saying UBI is capitalist is like saying water is dry. No matter how many times you say it, its still fucking wrong.
Small business is at a low because big companies are buying then out or squashing them, either by out producing them or using their connections in government to shut them down.

also:
$1000 a month will not protect you from financial ruin.
and starting a small business doesnt always mean shelling out huge ammounts of cash.
never say never except when saying never always

If I had $2000/mo but knew that if I got a job to make more money I'd lose my $2000, you bet I'd sit and collect checks.

If I had $1000/mo but knew I wouldn't be penalized if I made more than that, I'd probably keep my job to buy fun things, yes.

And people call Yang supporters blackpilled...

Capitalism is a fine system for bringing people out of poverty, but it is limited. It has natural flaws, such as requiring constant growth of the market, and periodic market crashes. We "grew the housing market" by expanding the amount of people that could buy homes, using loans. The market crashed when that bubble burst. (And the banks got off pretty okay after that, on our dime)

This does not mean socialism. This does not mean we nationalize wal-mart and vote on their buiness practices. We can still keep the framework of capitalism in place, of a free exchange in a marketplace, but come up with a fix to all the money being funneled up to the top.

Lost hard

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>So, it's not a general tax on every person. It's a VAT tax, or "value added" tax. There's a full explanation on Yang's website, but tl;dr, it's almost exactly like a sales tax, but it is much more difficult to use lawyers to get out of paying. So basically, it's a way to get businesses to actually pay the taxes we've decided they should pay.

Businesses get VAT refunds. Consumers pay VAT. Amazon gets its VAT back after it's sold the item VAT applies to. You don't know what VAT is, neither does Yang.

VAT is just a re-ordering of the Sales Tax so it gets paid first, rather at the end of the chain of businesses it'll go through (manufacturer, wholesaler, store consumer).

ttl;dr you're a fucking idiot and so is that bugman.

Yep.

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That's a very narrow definition of inflation. In any event, taking $1000 per month out of the tax coffers and handing it to citizens/consumers is going to have a similar effect on the market as if you did the same with newly printed money. The result is a devaluation of the US dollar as the utility it can purchase diminishes. If everyone has an extra $1000 dollars and everyone knows it, then the market will correct until no one has the utility of an extra $1000. Unless Yang plans on reigning in corporate America and instituting fascistic control over their dealings or the market entirely it will be business as usual. The market will respond as expected.
Though I welcome the political theatre we will witness over the coming year. This will be a delightful shitshow to witness as the candidate hopefuls defecate policy after policy in an effort to out do their rivals.
>UBI with health care for all.
>UBI with health care for all and huge taxes on the wealthy.
>UBI with health care for all, huge taxes on the rich and aggressive gun control.
>UBI with health care for all, huge taxes on the rich, gun control and nooses for tax dodging billionaires.

Gonna take a classic Trump defense here and assume the successful businessman knows more about taxes than you or me.

It will, to "fix" this Yang has to implement total price control thus making America Venezuela. Someone has to be destroyed for this stupid idea to stop gaining traction though so whatever, I'm indifferent

Newfagg