A New Economic Model

Posted: May 1, 2017 in Uncategorized

I’m in favour of Universal Basic Income.

See here- (insert wikipedia article)

I’m supportive of Land Value Tax. 

See here- (insert wikipedia article)

I’ve also got an idea about multiple income streams via a national(universal) stocks and share cooperative. Effectively, everyone over 18 would be a shareholder in any company created in the UK. The company holds a 51% and the rest is owned by the citizens. 

The NSSC plan would have everyone with a bank account in the UK (residents only) have an automatic share in a company that makes a large profit. This profit level would be set by government. This will be a necessary move as robotic automation moves into factories and replace humans. Those humans would become unemployed with no factories to relocate to. They would require benefits, but with no humans paying tax, there would be no funds to pay them with.

Universal Basic Income, as described above, would help a great deal, but those people with no clear self employment or hobby to indulge in will only have the basic allowance and no means to create more. Owning many single shares would solve that.

The NSSC would end small numbers of shareholders making vast individual profits. Everyone would be a shareholder. A universal shareholding society would emerge. Cooperative capitalism if you will. 

The way it would work.

[This is an example. Figures aren’t accurate.]

Simon turns 18 years old and has control of his bank account, which was set up at birth. He starts receiving Universal Basic Income and decides to open a pottery business based upon it previously being a hobby and an interest. The business is his main income stream. It tops up his UBI  of £70 by an additional £150 p.w.

He is then informed that 1,800 new robotic/automated companies with profits of over £70 million each are in the UK and he has a new single share in each of them. The basis of this is that everyone shares in all the nations productive capacity. There are no personal taxes. Taxes are on the land and VAT on purchases. As you have UBI there is no need for pensions. 

The yearly profit linked to that share (sans the companies maintenance costs and their own share (51%) would be put in the bank account. Even if this amounts to just 5p per year from every factory, the fact that Simon has shares in so many factories, means he has an additional income stream that doesn’t involve him working.

The portfolio would be an ethical one as no shares would be invested in arms companies. 
Just a thought- work in progress. 

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