> it's not a sustainable way to fund anything, let alone the massive expenditures required for UBI.
I'm open-minded but not convinced that printing money for UBI is an awful idea.
Printing money and sharing it out equally results in inflation, very likely, which affects people with existing wealth/savings more. The result is that money is very effectively redistributed, in a way which the existing income-based taxation system is unable to. Isn't that exactly the goal?
It is, but you have to be careful not to overdo it.
Also, I wasn't only advocating printing money by the state. I was also suggesting we stop banks from printing money as well. https://en.wikipedia.org/wiki/Full-reserve_banking Monetary policy is too important to let private special interests control it.
Also, the current way of dealing with money, even for a state, is to think in terms of budget, deficits… while it should instead think in terms of money supply. The state would then increase the money supply through various spending, and decrease through taxes. Deficit would be zero by definition. Only inflation would remain. (My guess: inflation should probably be kept between 3% and 10% per year. It should definitely not be null.)
Monetary policy influences all other policies, because you do need a budget to do anything. (A budget in resources and manpower, but money is too convenient to do away with.)
My point is, money is too important to let a few powerful, not-even-elected entities control it.
I'm open-minded but not convinced that printing money for UBI is an awful idea.
Printing money and sharing it out equally results in inflation, very likely, which affects people with existing wealth/savings more. The result is that money is very effectively redistributed, in a way which the existing income-based taxation system is unable to. Isn't that exactly the goal?