I'll help you out a little more:

As to your point about bankruptcy: A person might only be granted bankrupt status by a court if they have very little or nothing left by way of assets. And they may have all sorts of conditions and limitations imposed upon them.

Yes, bankruptcy is a form of limited liability for individuals, but it is very different indeed from the limited liability granted to shareholders, who can continue to own unlimited other assets and continue to live their lives without extra restrictions.

"So where is your basic income proposal that requires individuals to exercise a legally binding fiduciary responsibility to their investors?"

I am not proposing any such thing. Just imagine the absurdity of taking people to court for allegedly misspending their Basic Income. Good for lawyers! Bad for the rest of us!

Just as shareholders are allowed to take risks with their businesses, without worrying about losing more than they can afford, I want all individuals to be able to take risks in the market place, without worrying about not being able to feed themselves if things go wrong. Shareholders don’t have to ask permission to take risks. I don’t think Basic Income recipients should have to either.

As I say, some risks will pay off and some won't, but overall, we can all be much better off - taxpayers included!

If we're not going to let people starve to death in the streets, it's far better to have an efficient Basic Income system than the costly, bureaucratic welfare systems we currently endure.

I hope that explains things for you.

It’s difficult to follow logic, however, if your rational thought processes are swamped by your prejudices.

Have a nice day!

Written by

Tech Fan, Philosopher, Economist and Basic Income advocate. tiny.cc/RJMedStuff

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