1/8 #BasicIncome is a *way* of getting people money. It's not defined to be any particular amount.

Giving people too much money causes inflation. There's no way around that.

The question is what *level* of #UBI is appropriate for our economy. https://twitter.com/GenZReviewer/status/1296618537851613185

2/8 The economy produces goods and services for consumers. We *require* a mechanism for getting money into people's hands so they can buy things. The choice isn't #UBI or no UBI. It's UBI or other, less-efficient mechanisms for getting money to people. http://bit.ly/vending-machine-economy

3/8 Right. We currently use monetary policy to over-stimulate the private financial sector as a way of creating jobs and propping up consumers. The higher the #BasicIncome, the less of this other ridiculousness we need to keep doing. https://twitter.com/RowanMakesFilms/status/1296619807958163456

4/8 This is a wrong answer. Being "funded by taxes" doesn't prevent #BasicIncome from causing inflation. Just because you're removing money from one part of the economy doesn't mean you're creating room to add new money to another part of the economy. https://twitter.com/MaxGhenis/status/1296644924692029440

5/8 Holding fixed all other fiscal policy, our economy has a certain natural/optimal rate of #BasicIncome it can sustain. Some tax policies may increase the natural #UBI, while other taxes may decrease it. It depends on the tax.

6/8 We can feel out the economy's natural rate of #BasicIncome by gradually calibrating our #UBI to the optimal level. By continuing to dynamically calibrate our UBI, we allow markets to be efficient and we prevent unnecessary poverty. https://www.greshm.org/blog/poverty-is-optional/

7/8 The natural #BasicIncome will increase in normal times as the economy's productive capacity increases. If our productive capacity decreases, the real purchasing power of the #UBI must decrease—either through inflation or through a reduction in the nominal amount.

8/8 Some people are pointing out that this guy is getting the numbers wrong. But that's a red herring. You have to be able to answer this question regardless of the numbers. https://twitter.com/liquiddahang/status/1296619447210455040