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Cake day: August 26th, 2023

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  • I don’t think so as far as purchasing power in this limited case. This assumes capitalists would adjust pricing to soak up the cash. Giving people ~$30k would be almost guaranteed go to bills and food, maybe some would buy a used car or something. Few would save the money. This hypothetical isn’t an annuity, so hiking prices would likely be local and predatory. Scumbag landlords hiking rent. Debt collector vultures. Shitty used car businesses hiking prices. All the usual scumbags preying on the poor. I don’t want to get into the weeds too deeply, but the buying power issue would absolutely be a problem were we to implement something like UBI because businesses like apartments would absolutely jack up the prices and wreck the buying power of the lower income brackets.