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this post was submitted on 15 Oct 2023
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Leftism
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The situation in the United States is a bit different as we have many more working age people and a fairly young population (relative to other developed countries). This is mostly due to immigration which has helped our economy a lot despite what you might hear.
Despite that this plan will likely never work mainly because inflation would go through the roof. Many have the misconception that inflation is only caused by printing money but the real cause is excessive cash floating around. If everyone is rich, no one is (to an extent). What I feel as though the United States and most developed economies should focus on is human development (average lifespan, education, happiness and other prosperity measurements).
I feel this way because despite the United States having the largest GDP and one of the highest GDP per capita ($70k) figures in the world (far above much of Europe even) it's human development still lags behind many "poorer" developed countries, such as Taiwan (~$30k per capita).