We have seen the future, and it sucks.

Basic Income Is a Dead End

15th May 2017

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The most common reason cited for this conclusion is, of course, financing: though its costs have not been quantified, it is certain that they would be high. Just how income and wealth should be taxed to pay for it remains an open question. Radically transforming the social system to create a basic income would be the greatest financial gamble in recent history.

But the financial aspect is not even the most important argument against a basic income. Basic income is a seductive poison. It would benefit the margins of society at the expense of the middle class. For the poor and long-term unemployed, basic income would remove the pressure to find work and the unpleasant task of actively look for employment. It most likely would not cost the rich any more than before, and would help ease their conscience. Growing inequality would no longer be a social scandal, since everyone would have an income, albeit close to the poverty line. It is precisely for this reason that there are three main arguments against an unconditional basic income.

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