We should double down on automation since it makes humanity more productive in the long-term but I don't agree at all with Yang's proposal to give a UBI of $1000 ...
Right now the US's total M1 money supply is roughly $3.7T but by seizing as much as $4.2T from big corporations in potential savings over the year will cause the currency to devalue by more than twice it's original value. This simply means that at the end of this year the dollar would be worth less than half it's original value at the beginning of this year ...
You see with corporations shoring all their savings into a tax haven they can artificially keep the value of the currency high so this ironically becomes a necessary evil to combat inflation. It is not just solely printing more currency that causes inflation but it is also increasing the money velocity that causes inflation as well. One can visualize that by parting money so easily thus artificially increasing everyone's incomes, unintentionally money loses it's value because people value it less making it undesirable to keep ...
It is society's poor understanding of money at large which causes these schemes of wealth redistribution to be so popular. Money is not a tool of productivity and it will never be but rather it is intended as a tool of trust between two traders. For that, I am slightly disappointed in Yang because he seemed like the technical type who would jive with me unless he realizes that it's all just a part of elaborate his campaigning strategy to gain popularity so hopefully he find a hidden way to to confirm this or he can show some other upsides about him ...
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