Gary Stevenson (of Garys
Economics on YouTube) argues that exactly this happend with the Covid money. With watching if you haven’t seen him already.
He suggests the solution to the problem caused by Covid money is a wealth/asset tax. He’s persuasive. My main critique, which leads to a question I have for you, is that it would take quite a shift in public consciousness to get support for that tax: would an asset/wealth tax ‘fix’ the problems that you identify re: e.g. landlords?
Another suggestion (I didn’t hear this from Stevenson but it’s not my idea and I can’t remember the book) is a UBI ‘credit card’ that allows a maximum savings amount. This is to encourage spending and prevent accumulation. After that, the money disappears. I can’t recall if the amount that can be saved is the same throughout each month. It’s government backed, so it’s ‘money’ but it can’t be hoarded in the same way as ‘money’ money. The idea would be to prevent the picture that you paint. Have you heard of this? Any thoughts?
Gary Stevenson (of Garys Economics on YouTube) argues that exactly this happend with the Covid money. With watching if you haven’t seen him already.
He suggests the solution to the problem caused by Covid money is a wealth/asset tax. He’s persuasive. My main critique, which leads to a question I have for you, is that it would take quite a shift in public consciousness to get support for that tax: would an asset/wealth tax ‘fix’ the problems that you identify re: e.g. landlords?
Another suggestion (I didn’t hear this from Stevenson but it’s not my idea and I can’t remember the book) is a UBI ‘credit card’ that allows a maximum savings amount. This is to encourage spending and prevent accumulation. After that, the money disappears. I can’t recall if the amount that can be saved is the same throughout each month. It’s government backed, so it’s ‘money’ but it can’t be hoarded in the same way as ‘money’ money. The idea would be to prevent the picture that you paint. Have you heard of this? Any thoughts?
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