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One of the criticisms of a Universal Basic Income (UBI) is that it would harm innovation because creators would be taxed to pay for the income of others. However, Roy Bahat, the head of Bloomberg Beta, argues in a Washington Post article that a UBI may actually have the opposite effect.
A significant barrier to innovation is that it is difficult to find time to create new things when focused on making a living. The UBI could take away the stress associated with starting a new business, Bahat said.
According to Bahat, the increased taxation from a UBI program may not discourage innovation because the primary goal of creators is not to solely make money. Instead, the UBI will allow people to avoid jobs that stifle their innovation.
Roy Bahat, “To support innovation, subsidize creators” Washington Post, Oct. 2.
