Why are billionaires in favour of Universal Basic Income‪?‬ Finance & Fury Podcast

Welcome to Finance and Fury, the Furious Friday edition.  
Last week – went through the rise in billionaires in favour of additional socialist policies – went through why I think this is the case - I think that most of the billionaire class are in favour of calling for socialism due to it giving governments more control over the economy – and hence increases their political influence over the economy to benefit themselves Not true socialism – but a socialism lite version to help create additional barries to entry and to help monopolies the markets further More political power – greater ability for lobbyist to influence policy at the state and federal levels – hence additional benefits for the companies that they control through gaining additional corporate welfare Plus – the policies that will be recommended in the form of what those on the left want – like additional taxes will unlikely affect them – at least proportionately when compared to others – Taxes – they can move their wealth (or move away themselves) or employ tax minimisation strategies – like charities that their own relatives are the leaders of – to amas tax free wealth that gives out the minimum 1% requirement – so they appear to be philanthropic and get to save tax – win win – even paying out 10% is better than the standard company tax rate In todays episode – want to look at another potential benefit for the billionaires who are pushing for socialism and have the power the flow of democracy into this way of thinking – whether it be political or informational influence – through the owners of the platforms like Amazon, FB, Google (youtube) And why they are in favour of concepts like UBI as this will also benefit their companies  
The first step – killing the competition –
Through having additional taxes and regulations on businesses you can kill the competition You can see many billionaires talking about how they think companies and the wealthy should pay more tax But they never put their hand up to actually pay it – they could if they wanted to – but why don’t they? It is rhetoric – to get good PR at the least and at the most – have a greater burden on those these taxes will actually hit – the millionaire class and or the upper middle class That is where these regulations normally land – in the business world this is on the SME disproportionately when compared to massive multi-billion or companies worth over a trillion dollars The greater the level of state control – the harder it is for new up and coming businesses to be competition to those already established Plus – those that do pose a threat can be bought up – even though it might go against any anti-trust regulations – as a massive conglomerate company you can buy up any companies that are competition Can provide the political funding to have bling eye turned away from these laws and the effects But killing the competition starts to deteriorate the economy over time – With this – comes lowering employment opportunities – due to less companies – and people have less income – to spend on businesses Comes greater rates of poverty and the blame for economic woes gets placed at the feet of the free market – not the regulations that create the issues – The greater the power centralised entities have over any economy - in other words the more control they have – the worse the economic conditions for the population – this can come from Governments or companies – So the economy gets messed up – the younger generations get born into an economy that blames capitalism – they see economic inequality as the cause and not as a symptom – even through our economies are some of the more free economically in the world and with it higher level of living standards – so they look for policies that have been implemented in some countries and that have resulted in the deterioration of economies to be become