Comment Re:This wasn't a UBI (Score 1) 179
In fact, the argument goes that it will be a double-whammy because the thing "the rich" buy are companies that generally make stuff. So if you shift spending to the masses, you will increase demand for goods and services while simultaneously decreasing the available supply of new businesses.
That's nonsense. Customers enable the creation of businesses. If you give The People money, then businesses can be created to get that money.
An approach that actually gives the desired outcome on all fronts is to tax the rich and directly create new businesses
You do not have to do this. Just give the money to The People and they will be ready to spend it, and businesses will be created to get it. It's that simple. You're also ignoring the fact that the rich are sitting on unprecedented cash reserves, so moving money from their pockets to those of The People will not decrease economic activity, it will increase it.