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We really need to establish a universal basic income before jobs are replaced. Something like two thousand a month. And a dollar for dollar earned income cred
by lakeeffect 1y ago
We really need to establish a universal basic income before jobs are replaced. Something like two thousand a month. And a dollar for dollar earned income credit with the credit phasing out with at a hundred grand. To pay for it the tax code uses GAAP depreciation and a minimum tax of 15% GAAP financial statement income. This would work toward solving the real estate problem of private equity buying up all the houses as they would lose some incentive by being taxed. I'm a CPA and I see so many real estate partnerships that are a tax loss that are able to distribute huge book gains because accelerated depreciation.
- no_wizard 1y agoIt should really be tied to the ALICE cost of living index, not a set, fixed amount. Unless inflation ceases, 2K won't hold forever. It would barely hold now for a decent chunk of the population
- johnthewise 1y agoAI that drives humans out of workforce would cause a massive disinflation.
- goatlover 1y agoFat chance the Republican Party in the US would ever vote for something like that.
- yks 1y agoWe reached the peak social fabric decay era and the whole new "empathy is weakness" orthodoxy right on the verge of mass unemployment. The worst possible timing. If oracles of AI are right, the aggregate suffering is going to be immense.