[ExI] Universal basic capital was Re: Universal basic income

Rafal Smigrodzki rafal.smigrodzki at gmail.com
Wed Jan 18 06:27:42 UTC 2017

On Wed, Jan 18, 2017 at 12:39 AM, Adrian Tymes <atymes at gmail.com> wrote:

> I don't see that much to make UBC not merely a specific form of UBI.
> It's UBI derived from return on investment, and the recipient would
> have a choice between several different forms (perhaps with different
> rates), but fundamentally it's still "everyone gets an income without
> working", which is the core of UBI.

### In UBC the income is a side effect of investment, with
government-provided UBI the income is produced through theft.

> What about those who, for whatever reason (poor choices, poor luck, or
> whatever), consume but do not further invest?  They wind up right back
> in the current problem: they have no income, no way to pay for food
> and other necessities of life.

### The UBC is inalienable - you are not allowed to sell or otherwise
transfer it to others, unless you die first. So you always have enough
money to pay for necessities, including insurance against medical problems,
which would be much cheaper to treat given robot doctors. But you can
always choose to limit your consumption and contribute to your (or another
person's) UBC, thus increasing your future income stream.

> Or is consumption beyond certain limits simply forbidden?  Is it
> flat-out illegal to sell your UBC to "invest" in what has been proven
> beyond reasonable doubt to be fraud which will not actually give you
> any return no matter what the fraudsters claim?  (This is not
> hyperbole.  Ask any cop who's investigated any even mildly successful
> ponzi or pyramid scheme, how convinced the low-level dupes were.)
> What then do you do, when the fraudsters flat-out buy political
> influence and attempt to have the laws against this overturned?
> (Again, not hyperbole: this kind of thing forms much of the "swamp"
> Trump swore to drain.  Notice however his Cabinet picks - which are
> actions taken as President-elect even if he isn't inaugurated yet -
> and how many of them are poised to further enable fraud.)

### Yes, the UBC is held in trust for the individual, and the trust's
beneficiaries are not allowed to dispose of it. The UBC would be also
protected from debt collection.

The fraudsters in the government are now quaking in their boots. Once the
glorious Trumpian revolution is in full swing, they'll be booted by the
hundred thousands.
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