Basic Universal Income and Financial Transaction Tax

Introduction of a basic universal income based on a percentage of GDP coupled with the introduction of a financial transaction tax on every single transaction. This allows the consumer and more importantly the businesses and enterprises in our communities to pay the same level of tax. Allows for the abolition of HMRC, DWP Benefits etc. This will allow and support a shorter working week, agile working, home working while automation and AI develop solutions for menial repetitive tasks. There is no return to the finances of the past, but we can eradicate child poverty, maintain our NHS and people can choose to work or not. Salaries can increase for all essential workers, capitalism survives and we'll have a socio-economic re-balancing of our economy and social structures. Sounds too good to be true, but it is all achievable and within our wit to make it happen. Every citizen will be invested in the betterment of the economy without the inequality we currently tolerate. Now is the time, we have the opportunity and the need to find a new normal, lets get it right.

Why the contribution is important

There is a requirement for a new normal. This idea is not new, but is now so much closer to the needs of nations. The better the economy does, the higher the Universal Basic Income and every person, man, woman and child will be invested in the economy.

by StephenDevine on May 07, 2020 at 06:31PM

Current Rating

Average rating: 4.3
Based on: 16 votes

Comments

  • Posted by MelStephen May 07, 2020 at 19:03

    I think this idea of a basic income for all is great. Everyone deserves a decent life. If the level is set at a good amount then everyone would be able to have everything they need to live decent comfortable lives whilst contributing to the economy by being able to buy good and services. It could be funded in part or in whole by a redistribution of wealth. Banning billionaires would free all the money from billionaires private accounts releasing it into the economy to be distributed fairly. Money sitting in the account of one person is stagnant. Hoarding money takes that money out of the economy where it could be put to good use to benefit all. The introduction of a basic income might boost life satisfaction and help to reduce crime as a result.
  • Posted by Michellesmith May 07, 2020 at 19:38

    It's only fair we have a basic income for all . Do the people of Scotland not deserve it ? . My husband has been made redundant and due to his army pension we are getting nothing . We are kinship carers for two grandchildren. The minimal we get from SW doesn't even begin to help .
  • Posted by StephenDevine May 07, 2020 at 19:46

    There would be no requirement to work, and therefore none of the stigma of benefit payments. Your husband could choose to work if he wanted to earn additional income, but would be free to simply be a carer. The future economy could be incredibly bright but it must be different.
  • Posted by RuthUnsworthCBT May 07, 2020 at 21:15

    We have to have universal basic income - to encourage Economic growth by the development of new and small enterprises. It will help the population to grow. Younger people will be able to live In rural areas. It will support farming and tourism. It will reduce the suicide rate as the higher rates are in areas of deprivation. Scotland will be even more attractive.
  • Posted by macmac May 08, 2020 at 07:24

    As a first step, this could be paid to those of working age who need to shield.
  • Posted by PANDA_MONUIM May 08, 2020 at 08:40

    I think after years of austerity, economic stability getting harder to achieve for the majority of people and our children and future generations are facing a much poorer and uncertain future. The current economic structures are just not working well for most people and clearly aren’t able to cope with large disruptions of the current pandemics scale. Climate change is only going to increase the likelihood of future disasters and pandemics. We need to be proactive and have a radical rethink of our economic and social structures now.
  • Posted by firehorse May 09, 2020 at 01:07

    it is hard enough to get lazy selfish people to contribute to society as it is, the thought of a better existence for them would be nirvana. I am also aware that people always want more, better housing better cars better phones better tv's its the fuel used for capitalism. There should be away if you don't want to work still to contribute to the wide community, volunteering etc. Another way of improving global economics would be a graded level of pay, bonus and perks. for example company owners and football players etc could be capped at £100 k per year including bonuses. You only need to see that the top 1% of the global population has over 50% of the global wealth,the issue is about a better distribution system
  • Posted by Elkie May 09, 2020 at 16:56

    UBI would solve a lot of problems. And I disagree with the notion that it would make people lazy and unwilling to work. It would shift the power from employers to employees. Companies would compete to lure the best workers to their company. Employees could finally choose the most suitable workplace for them, instead of constantly having to bend their personalities to fit the job, they were graciously given. The possibilities of improvements regarding work environment and general mental health are huge.
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