UBI advocate Scott Santens argues that tax dollars fund foundational R&D, entitling citizens to dividends from resulting commercial tech.
0:00 / 0:10exact quote · 10.6s
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“So I think it's important that we see our economy as essentially, you know, a giant corporation where, as citizens, we are stockholders, and we should get a return
On our investment that we're investing in these technologies.”
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Insight
Santens: Society should aim for full unemployment via machine automation
“We should be investing in automation, and we should be, we should get out of this I'd say almost like, it's like a trap of full employment, this belief that, that it's best for people to be doing these jobs. I think that we should be aiming for full unemployme…”
Scott SantensMay 20, 2020▶ 16:20Scott Santens on UBI vs Stimulus Checks
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Santens: High inflation functions essentially like a wealth tax on asset owners
“The more inflation that there is, is essentially can be seen as like a wealth tax or something because it disproportionately impacts the, you know, owners of these assets.”
Scott SantensMay 20, 2020▶ 34:02Scott Santens on UBI vs Stimulus Checks
AssertionSupported
Santens: A $1,000 monthly UBI for US citizens costs $3 trillion gross
“So if you do that, and then if you're going to do a thousand dollars per month per person, and you're going to go to citizens in the United States, then it's a little over three trillion dollars. That's the gross cost.”
Scott SantensMay 20, 2020▶ 43:55Scott Santens on UBI vs Stimulus Checks
Insight
Santens: Private foundational R&D like Bell Labs no longer exists
“It used to be the case, like back in the day, like say Bell Labs was a bit, was a company that did a lot of its own R&D, and that just doesn't exist anymore. If it's not profitable, people aren't going to do it. So all these, this exploration in, into new tech…”
Scott SantensMay 20, 2020▶ 10:39Scott Santens on UBI vs Stimulus Checks
AssertionContradicted
Santens: European companies absorb about half of VAT increases on average
“We also see in Europe, too, that around, on average, about half of that is passed on, and about half is absorbed”
Scott SantensMay 20, 2020▶ 13:45Scott Santens on UBI vs Stimulus Checks
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