Good to see universal basic income in this, even if you just described it as an AI dividend, but it should be seen as part of the foundation and part of the accelerator too. UBI is pivotal to decoupling survival from jobs. It's simply a better way of going about welfare. Targeted welfare imposes high marginal tax rates on recipients. UBI doesn't. With UBI, everyone is always better off working for more money, and that's just not true with traditional welfare. EITC could be expanded into a full negative income tax as it was originally supposed to be decades ago when first implemented, but a NIT still targets a tax on those in the phaseout range instead of widely distributing the marginal tax hike further up the income spectrum. UBI paired with progressive taxes is the better solution to minimize the MTR. As for the primary funding mechanism of the UBI / AI dividend, I prefer corporations issuing stock each year into the fund. Sam Altman suggested this years ago, along with LVT, which I also like for its ability to increase the housing supply.
Basically, I think we need to look at UBI as a foundation for the future, and not just as an "in case of emergency break glass" kind of measure. It's really important we all benefit from AI, no matter how much it increases productivity or transforms the labor market.
Mar 25
at
4:30 PM
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