Showerthoughts

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A "Showerthought" is a simple term used to describe the thoughts that pop into your head while you're doing everyday things like taking a shower, driving, or just daydreaming. A showerthought should offer a unique perspective on an ordinary part of life.

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A universal basic income to the ultra wealthy would be perceived by them as being given a couple pennies every month (lemmy.world)

submitted 7 months ago* (last edited 7 months ago) by [email protected] to c/[email protected]

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The way someone with $100,000,000 would perceive $1000 is how someone with $100,000 would perceive $1.

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[+] [email protected] -9 points 7 months ago (1 children)

A universal basic income to the ultra wealthy would be perceived by them as being given a couple pennies every month

A couple pennies...

0.02 * 336,000,000 = 6,720,000 a month. There are not that many "Ultra wealthy" individuals who could sustain that for any significant amount of time. $80,640,000 a year.

The top 25 richest according to wikipedia range from 30.7 - 251 billion as of September 2023.

I don't think that's going to feel like "a couple pennies"... Especially since the ask is actually $1000 a month.So $336,000,000,000 per month... or $4,032,000,000,000 per year. Or about double all top 25 put together ($2,045,700,000,000). Source on net worth.

Strictly taking from the rich to create UBI will not work. UBI in general will devalue the dollar to nothing on the global market since the only way to do it is to print $$$ at an enormous scale. And we can validate this by looking at the COVID stimulus money. $1,800,000,000,000 of the $5 trillion went to individuals and families. Which was ~3200 for each adult? So about 3 months worth of UBI proposed? Which is about half of what I would expect given the numbers... And after COVID we all see rampant inflation, making everything worse off overall!

[–] [email protected] 7 points 7 months ago (1 children)

You misread the post

[–] [email protected] 4 points 7 months ago* (last edited 7 months ago)

So I did. Oh well. Thanks for letting me know.

Edit: I still think some of it is relevant discussion and I'm okay with leaving my flaws out there so I'm not going to delete it. But I sincerely do appreciate you bringing it to my attention. I don't know why I assumed this post was the other way around. I think I read a comment that switched the logic in my head for some reason. I dunno.