1. It would contribute toward inflation.
If giving every adult £200 a week would contribute to inflation, what would happen if everyone “worked hard and got on” and earned an extra £200 a week?
Would that also be eaten up in inflation?
If so “working hard and getting on” is just as pointless as giving everyone an unconditional basic income.
2. It undermines the incentive to work.
It incentivises work, because it abolishes the benefits trap. Anyone doing any form of paid work will always be better off than someone subsisting on UBI.
It also frees the entrepreneurial spirit in every citizen
Overheard this yesterday.
“Vote Green get a Tory/UKIP Coalition. So don’t!”
If I put a bottle of extra virgin olive oil in my basket at Sainsbury, but when I got home, I found the cashier had swapped it for a pot noodle.
I wouldn’t stop buying extra virgin olive oil, I’d complain that the cashier wasn’t doing his job properly.
Let’s say there are 50 of us locked in a room and we are all hungry.
In the corner of the room there is a barrel of 100 apples.
The apples cost £5 each.
There’s a problem. We pool all our money together and it comes to a grand total of £5.
I propose that we give everyone in the room an apple from the barrel.
Someone asks “But how can we afford to do that? 50 apples at £5 each? That’s going to cost £250. We only have £5. Where will we get all the extra money from?”
Silly question? Yes or No?