Universal Basic Income Program
The Problem Statement
Oh, people don’t even know. If poor people knew how rich rich people are, there would be riots in the streets." - Chris Rock
I think the above statement is enough, to sum up, the current economic divide we all live in this world. Many of the people actually are not aware how worse is the current economic inequality situation.
“Economic Inequality is the defining challenge of our time.” - Barack Obama
Differences in national income equality around the world as measured by the national Gini coefficient. The Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the same income) and 1 corresponds with absolute inequality (where one person has all the income, and everyone else has zero income).
We all know that the current financial system unfairly favors the already rich people. Many people also have a counter point to that. They believe hard work is the only deciding factor if an individual will live an economically prosperous life. Well, I'm not denying this point, hard work does pay off. There are millions of people world who doesn't have access to bare minimum necessities like food, water, and shelter.
And, the final nail in the coffin is the pathetic state of the current education system. People from humble background don't have enough money to afford quality education for their children. The entire system is broken.
What is Universal Basic Income
The idea behind UBI is to provide fixed monthly payment to people irrespective of their current income or employment status. The whole concept of UBI is already gaining support from the silicon valley stalwarts.
“I think ultimately we will have to have some kind of universal basic income, I don’t think we are going to have a choice,” - Tesla CEO Elon Musk
“We should explore ideas like universal basic income to give everyone a cushion to try new things.” - Facebook CEO Mark Zuckerberg
How UBI will function?
There is a proposal that state money should be given when an individual turns 18. Also, there have been talks regarding the frequency of payments - week, month or year.
Some have suggested that only people who are below the lower half of income distribution should be covered under UBI program. And, the people who are in the upper half should be funding the program.
Proposal for an average amount of the cash payments is varying from country to country. For example, Switzerland is considering a 2,600$ per month UBI program, while Kenya is suggesting a 1000$ per month UBI program.
Current initiatives of UBI program
Conclusion
A certain amount of financial stability which is sufficient to provide basic necessities to everyone should be secured for all. It's good to see emerging economies have already started incorporating UBI programs in their current financial programs. This menace of economic inequality should be dealt with an utmost priority to root it out from the world.
References and Further Reads: 1 & 2
with at least 50% of jobs becoming automated in the next 10 years ubi will be the only thing to save the system at all. pay for it by taxing the production of the automated systems.
That's a very valid point
A truly horrible concept. It is not income - it is an enslavement tool - for if he government/state on which one would depend determines who lives, dies, has energy, gets an extra perk for, let's say, do a certain deed...or has a perk removed from self or their family/friends for non compliance of an edict... In short: a criminal enterprise cloaked as a benevolent entity.
No thanks. I value liberty.
No up-vote - but a reblog to encourage discussion.
-ch @globocop
Can you please explain why do you feel it's an enslavement tool? You don't have to give anything in return to the government...it is just a basic income for the poor so that they can at least afford to buy bread 2 times in a day...I don't see anything wrong in that...there has to be some support mechanism in place for the needy people...if you have a better idea please enlighten us.
Hello vj, I think I made a case above.
The state is never benevolent. It is self serving, for it creates nothing but exists off the creativity and labor of the governed. It is not naiive to assume that the state wouldn't want anything in return. This is surely how they'd sell total dependence.
Poor people are not helped by hand-outs. Poor people are helped by empowerment. The release of technology, for example, that would lower the tax burden and lower living cost. This technology, and again, that's just one example, is controlled by the Powers That Should Not Be to control a population.
Just a look at the inscription at the Georgia_Guidestones gives an idea of what these people are really about. Not saving lives and reduce poverty - they could do this right now.
No basic income. It's not an income. It is a dependency payment.
All the best
-ch @globocop
This is why I like to write about topics which encourages constructive and healthy discussions...I agree to your point that people shouldn't be dependent on state rather they should be empowered and self dependent...but at the same time the tax that government levies should be put into use in some constructive projects.
PS: @globocop looking forward to more such insightful discussions...following your blog :)
Thanks for the follow vj. Before deciding what to do with taxes levied on the governed, one would want to determine the legality of the majority of taxes.
However, I agree with your point: any taxation should be used to the empowerment of the producers and value creators. However, this is against the inherent nature of the state...
Back to the UBI - it's a false song of benefit. Dependency never benefits the dependent. Especially not in a FIAT system, where money is created out of thin air.
It has no value in and on itself, for is not based on anything tangible such as gold.
Furthermore the fiat is multiplied through debt creation. Essentially, banks are lending money that they don't have against interest: Fiat. Under this corrupt and criminal system there is always more debt than money - yet - the 1% hold 99% of the wealth. Where does their wealth come from?
What does that make you and I?
And as always when we investigate we ask: Qui bono?
-ch @globocop
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I have just posted about Universal Income and healing the UK political climate. Great Post. I'd love your feedback on my view of how this would benefit the UK = D Followed You