A basic income would likely raise wages by killing the labor glut.
This would have the double effect of raising prices because of higher production costs and lower supply.
Yup. So you'd have to earn more if you wanted the "nicer" things in life. The income curve would be flatter. The wealthy might go back to earning 50x the middle income instead of 534x the middle income.
A basic income would mean you had to save less to retire.
It would mean that many people retire the day the first check arrives. So yes, you have to save less.
Young people do not typically want to live in poverty their entire life. With a basic income, you keep most of the first money you earn above a basic income. There's a strong incentive to find a way to work. And you don't have to work a full time job. You can also get training instead of being trapped.
A basic income is cheaper to much cheaper than the cost of imprisoning people.
Imprisoning criminals is not so that the state can take over their care, it is to protect the public from criminals. If you think that we should stop imprisoning people because we can just give them $10,000 a year not to commit crimes, well ...
Sure.. that's why the U.S. imprisons it's citizens at a higher rate than every other country on earth. I.e., most criminals are in for doing minor crime. They shouldn't be in prison in the first place. Prison should be for dangerous criminals. For real criminals.
Taking about 10% of that wealth and income as taxes would pay for basic income.
So in ten years the program would become unfunded. 10% per year cannot be extracted from the wealthy forever, you know.
Dude.. you said it yourself,"If only the economy were a zero sum game." it's not. The government has took 90% of decades and we did fine. The government takes 35% now and we do just fine. You can take 10% and make sure it goes to balance society and get better results.
It can afford a few trillion dollars to share the benefits of society with all citizens.
If only the economy were a zero sum game.
Your statement is much more applicable to your prior statement than mine.
I don't think you get it. 30-40% of people without the ABILITY to work at all. Period. Think they are just going to stand around and die in a nation that has multiple guns per citizen?
High unemployment is strongly correlated with civil unrest, revolt, increased crime, and violence. You only have money as long as the society exists. You boot out 30-40% of people on their asses to starve and your days are numbered.