August 2, 2014 · 3:00 PMLet's Get To Know Each Other!Let's grab some drinks, food, get talking and plan how we're going to spread the word!
We are raising awareness of Basic Income.
Basic Income is a regular income payment to every adult citizen, with no conditions attached. It is enough to meet basic needs for a frugal lifestyle, and would largely replace welfare, food stamps, and public pensions. It would also augment the income of poorly paid employed people, and provide a safety net for those with irregular incomes.
Recent US college graduates are some of the most educated humans in history yet 48% are working at jobs that require less than a four-year college degree. If college graduates are taking low paying jobs, where are those without college degrees supposed to work? The Labor Force Participation Rate suggests many are dropping out of the labor market because they can't find work.
This oxford paper shows 47% of jobs are at high risk of being automated by 2034. Can we replace another 66 million jobs? Most jobs can be broken down into a repetitive series of steps, and automated systems are much cheaper than human labor. Computers are also getting smarter. IBM's Watson can debate and is better at identifying cancer than human doctors. What else will it learn in the next 20 years? Next 50 years?
Corporate profits and productivity are soaring but the middle class' income has remained stagnant. We are experiencing some of the greatest levels of income inequality in US history. This gap will continue to grow as business owners generate more value with fewer workers by replacing human labor with cheaper automated systems.
A universal basic income is the most efficient way to provide the basic needs to all citizens because it takes advantage of free markets and their ability to set prices based on what resources people value. A UBI is a payment of $16,000 per year to every citizen of the United States. It does not provide a luxurious lifestyle, but ensures every citizen has the basic needs to survive. This protects citizens from unemployment caused by automation, eliminates the unemployment trap, reduces government bureaucracy and allows capitalism to continue innovating and increasing the standard of living for all.
Here is a rough draft of a basic income budget. 98% see an increase in income. Our current top earners are paying lower tax rates now than in the past 60 years.
August 2, 2014 · 3:00 PMLet's Get To Know Each Other!