Giving everyone, even millionaires, 500€ a month is an unreasonable application of UBI. It makes no sense doing it that way. No sense whatsoever.
Traditional welfare can run off, as it’s a program with X amount of money attached to it, UBI is not linked to allocated resources, so it doesn’t run off.
This the difference between traditional welfare and UBI is that UBI is given to EVERYone who needs it. As before welfare programs traditionally ran of of money before reaching everyone. There’s no need, and it makes no sense to just give everyone money that it’s going to instantly vaporize (via taxes or inflation)
We also have RSI in Portugal and it works in a similar way. It is not UBI. The U stands for Unconditional. What you describe is just welfare.
Giving everyone, even millionaires, 500€ a month is an unreasonable application of UBI. It makes no sense doing it that way. No sense whatsoever.
Traditional welfare can run off, as it’s a program with X amount of money attached to it, UBI is not linked to allocated resources, so it doesn’t run off.
This the difference between traditional welfare and UBI is that UBI is given to EVERYone who needs it. As before welfare programs traditionally ran of of money before reaching everyone. There’s no need, and it makes no sense to just give everyone money that it’s going to instantly vaporize (via taxes or inflation)