So what is UBI, well UBI is a system where everyone is paid a certain amount to meet their needs. Many proponents of UBI(Universal Basic Income) argue that we need a basic income because of the advancement of AI and the fact that once AI reaches a mature enough level it will start taking jobs? While jobs like in the manufacturing industry, the truck industry, and other jobs that require hard labor would cease to exist many more would be created in the tech industry. And with the advancement of AI and machinery, time-consuming jobs would also probably cease to exist, this means people will have more free time to do what they want. This freedom would most likely lead to even more innovation since especially in the entertainment industry since the more time people have the more time they have to enjoy things like movies, shows, music, etc... Another problem that lies within the system is how the fact that you will need a source of revenue. There are a few ways that the goal can be achieved, one is taxation. To maintain such a huge system of welfare you will need a huge system of taxation, this taxation would most likely lower any incentives for people or business to innovate. There is also printing money which is obviously ludicrous.
Share your opinion down below and let me hear what you think about UBI and I always welcome debate.
I originally posted this on Cent, so don't think I stole it off another person: https://beta.cent.co/+k96cx2