Had not seen this one yet. Straight from the next Democrat POTUS candidate himself. So not only are they going to push UBI they are now going to push UBC on top of it. You won't have to do anything here in America - just collect a salary and now capital gains and dividends from investments that are stolen from others and given to you.

The knee jerk "solution" for AI has always been UBI pushed by Democrats and Big Tech leaders and Gavin is couching it in FDR New Deal terms. Get ready:

Quote:

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Mr. Newsom told the left-leaning Center for American Progress this month that Democrats should talk about AI "as FDR talked in 1944, about a new social compact."

Mr. Newsom also said he is considering "universal basic capital. I'm thinking about public equity funds and dividends. I'm thinking about ownership." Such ideas have come into vogue among the liberal intelligentsia, so expect Democrats to adopt the idea.

Universal basic capital looks to be socialism by a more politically palatable name. Under one version that some liberals have floated, government requires companies to hand over shares, which it puts into a fund. Politicians then distribute investment earnings from the fund to citizens as a "dividend." For progressives, this has the virtue of giving politicians more control over more of the economy.

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Taxing the producers just won't be enough so they are going to steal shares from public companies. Look for more companies going private to try and get around this.

Quote:

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"Businesses are going to make a fortune, and that's why you cannot continue to have a payroll tax system that taxes jobs and then subsidizes automation," Mr. Newsom said.

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Another example of government trying to pick winners and losers, just a different flavor. Tariffs and picking favorites with tax policy are other examples.

I reject all of it.

Make the rules equal for everyone and let them live with the consequences of their decisions and actions.

A meritocracy underpinned by free markets is the way to go.

So they want to create a proletariat and worker class. Who is going to do the work that creates those profits they want to hand out?

Someone said it on here and I want to give them credit but don't know who it is. The Dems of today are the bolsheviks of 100 years ago. I have started diving into the Bolshevik revolution and that poster couldn't be more right.

reineraggie09 said:

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So they want to create a proletariat and worker class. Who is going to do the work that creates those profits they want to hand out?

Someone said it on here and I want to give them credit but don't know who it is. The Dems of today are the bolsheviks of 100 years ago. I have started diving into the Bolshevik revolution and that poster couldn't be more right.

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And throw in Maoism as well. They will ultimately force a reckoning of some sort.

Kenneth_2003 said:

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Further direct theft from EVERY American with a retirement account. Can't seize or rewrite the tax code for your 401(k) or IRA, they'll just seize/devalue the underlying assets.

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At some point I think they come after Roth accounts. Maybe make the capital gains taxable. They can't possible keep their hands off of all of that money. I have 20 years before I can get to mine and I'm a little concerned it sounds too good to be true as I am feverishly working on rolling over all my traditional to Roth.

reineraggie09 said:

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Kenneth_2003 said:

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Further direct theft from EVERY American with a retirement account. Can't seize or rewrite the tax code for your 401(k) or IRA, they'll just seize/devalue the underlying assets.

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At some point I think they come after Roth accounts. Maybe make the capital gains taxable. They can't possible keep their hands off of all of that money. I have 20 years before I can get to mine and I'm a little concerned it sounds too good to be true as I am feverishly working on rolling over all my traditional to Roth.

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Definitely a concern and should be. We are doing nothing to address the debt and debt payments are going to continue to soar combined with new welfare programs coming online such as UBI, UBC, and UHC.

There are no longer enough people paying tax which is why just taking from companies is now being floated - eg UBC. The only other big pool of money are retirement accounts. They will absolutely come after it and have already launched the opening salvos with Biden's 401k reform, wealth taxes, and taxing unrealized capital gains.

Once the AI job bull dozer gets going, this may become a reality because of desperation from the masses.

AI might well move us into full blown Marxism.

Logos Stick said:

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Once the AI job bull dozer gets going, this may become a reality because of desperation from the masses.

AI might well move us into full blown Marxism.

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Certainly could. Doesn't help that the tech bros simply hand wave it away that AI will somehow solve scarcity at the same time thereby making UBI totally cool and doable.

WE MUST SEIZE THE MEANS OF PRODUCTION

Quote:

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government requires companies to hand over shares, which it puts into a fund. Politicians then distribute investment earnings from the fund to citizens as a "dividend."

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Yeah, that will surely happen (sarc).

More likely that the funds will quietly disapear or the earnings will be sent toward the Politicians favorite causes such as Trans Rights or Climate Change, etc.

Quote:

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"Businesses are going to make a fortune, and that's why you cannot continue to have a payroll tax system that taxes jobs and then subsidizes automation," Mr. Newsom said.

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This is such an insanely dumb argument. Income is taxed, whether it's income to a person (payroll) or to another company (AI tokens). It's deductible to the company paying it either way. One is not subsidized over the other.

Democrats are ******ed. Water is wet.

YouBet said:

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Had not seen this one yet. Straight from the next Democrat POTUS candidate himself. So not only are they going to push UBI they are now going to push UBC on top of it. You won't have to do anything here in America - just collect a salary and now capital gains and dividends from investments that are stolen from others and given to you.

The knee jerk "solution" for AI has always been UBI pushed by Democrats and Big Tech leaders and Gavin is couching it in FDR New Deal terms. Get ready:

Quote:

---

Mr. Newsom told the left-leaning Center for American Progress this month that Democrats should talk about AI "as FDR talked in 1944, about a new social compact."

Mr. Newsom also said he is considering "universal basic capital. I'm thinking about public equity funds and dividends. I'm thinking about ownership." Such ideas have come into vogue among the liberal intelligentsia, so expect Democrats to adopt the idea.

Universal basic capital looks to be socialism by a more politically palatable name. Under one version that some liberals have floated, government requires companies to hand over shares, which it puts into a fund. Politicians then distribute investment earnings from the fund to citizens as a "dividend." For progressives, this has the virtue of giving politicians more control over more of the economy.

---

Taxing the producers just won't be enough so they are going to steal shares from public companies. Look for more companies going private to try and get around this.

Quote:

---

"Businesses are going to make a fortune, and that's why you cannot continue to have a payroll tax system that taxes jobs and then subsidizes automation," Mr. Newsom said.

---

---

What makes you think private companies would be safe?

Jeeper79 said:

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YouBet said:

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Had not seen this one yet. Straight from the next Democrat POTUS candidate himself. So not only are they going to push UBI they are now going to push UBC on top of it. You won't have to do anything here in America - just collect a salary and now capital gains and dividends from investments that are stolen from others and given to you.

The knee jerk "solution" for AI has always been UBI pushed by Democrats and Big Tech leaders and Gavin is couching it in FDR New Deal terms. Get ready:

Quote:

---

Mr. Newsom told the left-leaning Center for American Progress this month that Democrats should talk about AI "as FDR talked in 1944, about a new social compact."

Mr. Newsom also said he is considering "universal basic capital. I'm thinking about public equity funds and dividends. I'm thinking about ownership." Such ideas have come into vogue among the liberal intelligentsia, so expect Democrats to adopt the idea.

Universal basic capital looks to be socialism by a more politically palatable name. Under one version that some liberals have floated, government requires companies to hand over shares, which it puts into a fund. Politicians then distribute investment earnings from the fund to citizens as a "dividend." For progressives, this has the virtue of giving politicians more control over more of the economy.

---

Taxing the producers just won't be enough so they are going to steal shares from public companies. Look for more companies going private to try and get around this.

Quote:

---

"Businesses are going to make a fortune, and that's why you cannot continue to have a payroll tax system that taxes jobs and then subsidizes automation," Mr. Newsom said.

---

---

What makes you think private companies would be safe?

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Don't know that they would but it's likely at least a reprieve since public companies would get looted first.

What could go wrong?