[WayneS]

Yes, Mr. Cooper, and if minimum wage is set at $1,000,000 per hour, we can all be as rich as Bill Gates.

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And now back to reality:

From an economic standpoint, the amount at which the “guaranteed minimum income” is set becomes the new zero.

[cuban leaf]

From an economic standpoint, the amount at which the “guaranteed minimum income” is set becomes the new zero.

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And, interestingly, the current “zero” is pretty darned cushy compared to the past. Fact is that most Americans lived in much smaller homes than they do now, ate worse food, watched crappy black and white TV’s, drove unreliable cars, etc. But when you raise the bar for everyone, expectations raise as well.

In a world where everything is made by machines and everything is done by machines, people can live comfortably without doing much of anything other than eating and pooping. But this would also cause unrest because people NEED to create their own personal success. The people rioting in various parts of the US have a roof over their heads, free food, clothing, yet they are still unhappy.

Understanding why is the beginning of wisdom on this issue.