I don’t know how relevant this is now, but here’s a link to another post where I expressed my thoughts on what kind of pitfalls you might most likely face – https://lemmy.world/post/36867409
By the way, what is this phenomenon on Lemmy? Let’s say people are reluctant to read and comment on old posts published just a couple of days or a week ago, but with new ones, it’s a completely different story. What kind of psychology is this? Or it seemed to me?
If you give out money the people who own stuff (rich people) will just increase prices and take all that money.
Yes, but the free money that is given out is typically obtained by taking it from the people who own stuff.
So, why don’t they do just increase all the prices now?
If you print £100 and give it to every person, then yes. But if you tax every person with progressive taxation so that the poor pay little or no tax, and then give everyone £100 using the proceeds, no, because you are changing the distribution of resource-allocation-units between the people who had the most and the least of them previously.
Even in the former example the inflation hits the billionaire harder than the worker. For example if we all got a trillion dollars it wouldn’t really matter that Elon has a trillion and a half. Scale that same principle down and UBI is good for the workers.
The “price increases” side of inflation harms the people that hold money.
Billionaires do hold more than poor people, but they still mostly don’t hold any. It’s normally the high-middle class and the poorest fraction of the rich that are hit the most here. You need proper taxation to reach the billionaires.