alt Hacker NewsI said that wages would fall below human subsistence level, not that income would fall below subsistence level. People would still get income from other sources such as investments, charity, and government (via taxes on others).
I said that wages would fall below human subsistence level, not that income would fall below subsistence level. People would still get income from other sources such as investments, charity, and government (via taxes on others).
Where are the taxes coming from?
If people’s wages are below subsistence levels they’ll sell their investments to survive. There can be no possibility of upward class mobility in this scenario.