The Province of Ontario is planning to implement a Basic Income pilot.
The 1% loves the idea of Basic Income because it will guarantee their profits from continuing planned obsolesce and higher automation (Elon Musk: Robots will Take Your Jobs and the Government Will Pay Your Salary). The left loves Basic Income because, as always, it doesn’t matter to them if you are producing Monsanto’s GMO soy (as in Argentina), or oil (as in Venezuela or the NDP party accepting more pipeline construction in Canada) as long as they get a slice of the cake.
The economy needs to keep profit growth to avoid a collapse and the next profit growth will come from Artificial Intelligence and the Internet of Things. Basic Income is a subsidy for the next industries, which are terrible for the environment because of the level of energy and planned obsolescence required to keep competitiveness (and continuous growth). It will also continue to subsidize the artificially high Real Estate values.
Another problem is that the costs of Basic Income will not be covered by the 1% because they will continue to pay fewer taxes, so the middle-class who are the true innovators and entrepreneurs will face higher costs, which in turn makes the multinational corporations even more competitive and the economy more centralized.
‘Basic Income is Morally Corrupt and Totalitarian’
Basic Income is another form of corporate imperialism because subsidizing the new technologies to provide a minority (Rich populations in North America and Europe) with products from centralized factories (Only rich corporations can afford these machines) will require more dependency on resources from poor regions.
When the economy needs more oil to keep all these machines or minerals to build them, they will just go and grab it with unmanned machines, and everyone will remain silent because they depend on the government to provide for their needs. Basic income will lead to more totalitarianism, not less.
I heard a lot of people say that Basic Income is a great thing, especially those who love doing art and follow their dreams, but it’s morally corrupt because it depends on increasing profits from an economic system that should grow less, not more.
What we need to do is fund entrepreneurs, green technologies, art, and education directly, so each economy produces what it needs more locally and reuses materials through closed loop systems, and fund the whole thing by taxing pollution and social externalities (Read: Tax and Regulate the One Percent).