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RE: Understanding the Fall of Canada
Yes, indeed... Canada isn't alone with that "phenomenon". Did we elect these people, these polititians? Not me, not you. But a lot of citizens. The majority. Does it work in a correct way? I'm not sure. I have other ideas about a political system. May be I'm a thinker. But I'm willy to become a doer. How?
Primarily by thinking outside of the box! One of my pet beliefs is having a Universal Basic Income (#UBI). While COVID-19 has been going on, Canadians have been able to tap into something similar, giving eligible people $2000 per month. The government has borrowed a massive amount of money to pay for it.
The thinkers believe that we should continue borrowing money and converting the current system to permanency. As an exercise, how would you implement a plan that would provide a #UBI without bankrupting a country?
I am also very much in favour of an unconditional basic income. However, I would finance it differently. On the one hand, through the abolition of all other social and transfer benefits, thus also saving the authorities and institutions that have become superfluous. On the other hand, by taxing assets, transactions and earnings (instead of profits)...
Ich bin auch sehr für das Bedingungslose Grundeinkommen. Allerdings würde ich es anders finanzieren. Zum Einen über den Wegfall aller sonstigen Sozial- und Transferleistungen, damit ebenso Einsparung der überflüssig gewordenen Behörden und Institutionen. Zum Anderen über Besteuerung von Vermögen, Transaktionen und Erträgen (statt Gewinnen)...
There is one fundamental precept of #UBI that can be discarded. While it can be universal, is it necessary to be equal payments. Young people have the highest potential to earn income. If older people could retire earlier, that would also open up opportunities in the workforce.
The Canadian government increased the child benefit by $100 per month during the pandemic. What if it was allocated to an annuity held by the CPP Investment Board. The annuity would accumulate at ten percent until age 18 (when the benefit ends). After age 18, the annuity would start to payout. The first five percent would be reinvested to continue building the annuity, and the balance would be paid out as the #UBI. The "child" would receive over $100 per month at age 18. Through the magic of compound interest, at age 55, the UBI would be over $2500. By age 65, it would continue to rise to almost $4000 per month.
This example meets the criteria of being self-funded without touching existing social safety net programs.