Snorvey wrote:If there are no jobs, where exactly is the moral hazard here?
Middle class people on trust funds getting topped up so they can "retire". What you are doing is redirecting the output gap, not to poor people, but to middle class trust fund wannabes who don't fancy working.
UBI is just the retirement pension for everybody. Rather than having to spend a few years maintaining our inherited capital, improving it maybe and then passing it onto the next generation with the instructions of how to use it and improve it, you can just spend the seed corn now and damn the future.
The retirement pension is sustainable because the young can accept they have an inheritance and will work the extra hours to provide the surplus to fund the older worker because of what they have given them. The older worker has a moral call on the efforts of the young because of what they have done in the past.
The 18 year-old workshy middle class layabout has what moral right to the output of others?
If there are no jobs, then drop the retirement age to 50. Which also has the added advantage of giving those susceptible to Covid the option of keeping out of the way.