Two links worth reading on Finland and UBI: this one and this one.
Essentially, Finland did a form of UBI and it didn’t work. Those for UBI will argue it was implemented poorly. Those against UBI will argue those people are purists and in fact UBI will never work.
I think there are limits to UBI, but the Finnish implementation was poor. I think it can be done better than that. Read the two pieces in the New York Times and decide for yourself.
You will hear anecdotes of people doing so, but in reality:
While everyone seems aware of a handful of high-profile millionaires decamping to low-tax states for tax reasons, in truth few move in response to state tax rates. Young examined tax data from every millionaire in the United States over thirteen years. He found that, even over that long time horizon, only 0.3% of all millionaires, on net, moved to a lower tax state. A larger share—about 2.5 percent– move from one state to another each year, but most do not migrate for tax reasons.
That quote is from: What Republicans and Democrats Can Learn from “The Myth of Millionaire Tax Flight” | Tax Policy Center.
Remember this the next time someone is arguing that higher taxes will cause the well off to move elsewhere.
(Image via pexels.com)
Posted in money
Tagged money, policy, taxes
While all the hype might make you think that Bitcoin is the only cryptocurrency, there are a number of alternatives out there and this piece in Fortune outlines what they are: 5 Bitcoin Rivals That Are Rapidly on the Rise.
While this piece lists a handful, I expect that there will be a flood of such things in the future as financial markets look to capitalize on this mixture of money and technology.
The Fortune piece is also not bad in summarizing some key facts about Bitcoin if you still find it hard to get your head around it.
I expect Bitcoin to crash to a much lower level, but I don’t see cryptocurrencies going away. Knowing more about them, especially because they could have a major impact on global economies, is worthwhile.
I don’t recommend participating in the madness that is Bitcoin, but if you want to and you live in Toronto, then check this out: How to buy Bitcoin in Toronto.
There are many ways to raise money on line, from Patreon to Indiegogo to Kickstarter. A more modest way to raise money online is this site: Ko-fi. I think it is perfect for anyone wanting to share things with others in exchange for a modest amount of money (i.e. the cost of a cup of coffee, approximately). If you were looking for something like this for your site, I recommend you check it out.
By the way, if you want to check it out (and buy ME a coffee), here is my link. Thank you!
Since the start of the great recession in 2009, two things have happened in the stock market:
- In the short term, events have occurred that correlate with declines in the stock market
- In the long term, the stock market has steadily improved significantly
This leads me to two conclusions
- Always take a longer term view of the stock market
- The things that drive the stock market in the long term are very different than the short term drivers
The second conclusion is something that this piece tries to tackle: Gradual Improvements Go Unnoticed. It is easy to see what drives the stock market down in the short term: it is difficult to ascertain what drives the stock market up in the long term. Gradual improvements could be a contributor. Other things, like the activity of the central bank, affects this. Even how other markets in the world in the world can affect the stock market.