Nationalization of Resources

What is the Living Income Guaranteed?

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Living Income Guaranteed is an economic and political mechanism to ensure the establishment of Fundamental Human Birth Rights of the public through allocating an allowance on a monthly basis to every eligible individual that is currently in a position of being unable to sustain themselves – and/or people in their custody – financially to a level that Human Dignity deserves and that currently lack such support due to reasons beyond their immediate control including – but not limited to – unemployment, lacking access to food, lacking access to housing, lacking access to healthcare, lacking access to education, physical disability, being retired or not old enough to have a job.

This is within the understanding that the existence of poverty and lack of education as the key to have a job and means to live is the result and outflow of the economic system’s malfunction, providing an unfair allocation of National Natural Resources, being unable to support every living individual with sufficient access to fundamental living necessities. The most immediate remedy is to eradicate poverty, through allocating/designating a monthly allowance to those that don’t have access to their fundamental living necessities, thereby empowering them to establish a dignified life, enabling each one to reach their potential, choose a career and contribute to the economy through their skill, labour and purchasing power.

Why is it called Living Income instead of Basic Income?

It is called ‘Living Income’ because it won’t only provide each one with the minimum required to survive, it implies sufficient allowance that is able to cover the fundamental expenses required for a dignified living Why? Because this will enable people to reach their creative potential, return to the job market, become independent from the Living Income and contribute to the progression of the economy.

This means that a Living Income Guaranteed should be provided to all individuals that are currently unable to participate in any economic activity due to the lack of jobs/education/health. However those that don’t participate in any economic activity but do have sufficient money to live due to, for example, family wealth, inheritance or any other regular income won’t qualify nor require the Living Income Guaranteed.

Why is Living Income Guaranteed Not Unconditional?

The reason why it is not given to all people unconditionally is because this would undermine the sustainability of an economic system that does require people to be motivated to educate themselves and work to enable the continuation and functionality of our societies.

That means that people that work won’t get the Living Income Guaranteed?

That’s right, however we Do propose that the Minimum Wage is Doubled (twice the Living Income Allowance), which means that there will be a series of reforms to take place first to make the Living Income Guaranteed a sufficient Allowance granted to cover fundamental living necessities, which is within the context of our current economy More than our current Minimum Wage standards.

This allowance should be sufficient for an individual to have dignified living conditions with guaranteed access to their fundamental human birth rights: Food, Water, Housing, Healthcare, Education, Clothing, Transportation, Public Services, etc.

Now to motivate people to work, the new minimum wage should be Double the Living Income Guaranteed in the most common economic activities which are at the moment associated with retail workers, waiters, cashiers, transportation workers, fast food industries, etc..

So, anyone that genuinely wants to have a top quality lifestyle will not conform to only getting the minimum as the Living Income, but continue educating themselves, developing further skills to make more money and have more financial solvency.

What’s in it for the corporations with implementing the Living Income Guaranteed model?

A broader consumer base. Those that previously had no money to live and as such were not economically active will suddenly become active participants in the economy which will ensure that profit is also broadened for corporations, realizing that if more buyers emerge, there will be more profit that can be used to better the working conditions, to diminish the compulsive production and instead adapt the prices to make things affordable, with great quality and providing a secure and harmonious working base, as well as proceeding to fund the automation of jobs that are currently deteriorating human health.

Workers will feel supported and cared for by their employers, which will result in individuals that no longer feel pressured and enforced to only be a profit-making machine, but will feel happy and content to realize that their work is being truly remunerated and that their time and contribution to the corporation is being valued as the life-time investment it actually is. A well remunerated individual will create a happier and fulfilled society that is no longer afraid of not having sufficient money to feed their family, it will be the beginning of a new era of quality work that dignifies the lives of human beings that genuinely desire to improve their lifestyles.

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Why is the implementation of a Living Income Guaranteed an immediate solution to the economic crisis?

More than a solution to a crisis, it should be understood as the way to guarantee that the Fundamental Human Rights to each individual are properly funded through allocating an Allowance as the access to the necessary things one requires to live in a dignified way – this is within the principle of Giving to others what we would like to receive, and if we want to live in a peaceful society, to have a happy and healthy living condition, we then must give access to this Allowance/Income as a living certainty that will eradicate the need to resort to crime, panhandling, homelessness, lacking education, health care that results in economical regression affecting every individual in society.

It is common sense that if we give an Allowance to every eligible individual to be well nourished, have proper living conditions with the fundamental necessary services, health care and leisure time, more educated beings will emerge from this when realizing that if one is given support as in getting an income to cover one’s living necessities, one learns how to give back to society too. This will be understood as a living principle that applies to every living being on Earth beyond any political, social, religious or ideological affiliation. We’re talking about physical living necessities that all human beings require to live in a dignified and sustainable way.

On top of this, many jobs are being replaced by the rise of the machine, which will require more restructuring processes in our economy to finally upgrade the premise of being able to ‘make a living by having a job’ because if jobs are currently not available to all – regardless of having college degrees and necessary skills to have one – then it is certain that a new understanding of our economy should be grasped as supportive mechanism for all individuals rather than a restrictive and coercive one.

In the past, long-term policies and treaties have attempted to benefit the working class over time, and it has proven to be inefficient for the tightening policies implemented by corporations as well as the economic outflows have deviated their effectiveness. This is how through a direct intervention to provide the Living Income as an Allowance and doubling of the minimum wage, we are directing the problem at the root, instead of expecting third party actors and policies to solve the situation throughout time.

Will the Living Income Guaranteed undermine competition and as such create economic stagnation in society?

Not at all, actually it’s the other way around. If we define competition as the ability achieve the best living condition in a society, by allocating Allowance to every eligible individual that previously had no access to it, we assure the activation of the economy and impulse people to work if they do want to have a greater economic solvency to cover other consumer desires for extra commodities that are not able to be paid for with the Living Income Guaranteed. Also, there is no limit to how much money you or corporations can make as long as their businesses do not interfere in any way with the nationalization of natural resources or fundamental public services – that is the condition. That means that the rules of a free market still apply and as such, the only constitutional and governmental management will be to supervise the implementation of the Living Income Guaranteed, as well as conducting the usual maintenance, management and provision of public goods and the justice department.

The more you prepare yourself, the better work you’ll have, the more benefits which means you will earn more money as well. Competition means bettering oneself to perform a certain activity the best way one can and this is an essential part of human nature  that has kept our societies remaining competitive, innovative and creative  at a local and global level.

You will also be able to truly have free choice on which work is best for you instead of engaging in working contracts based on need rather than preference or choice. This is the way to implement a real ethical environment at work too, where no more exploitation occurs since any job won’t be the result of a need to work in order to survive, but rather become a means and incentive to increase the quality of life. 

How will it be funded?

Through the nationalization of resources , banks and basic services which means that if, for example, your oil, gas, water, electricity, telecommunications ,transportation is defined as patrimony of the people, the profit that comes from the consumption/purchase of such goods and services should be sufficient to fund the Living Income Guaranteed for eligible individuals. This means there will be no need to have personal taxation but instead keep the VAT (Value Added Tax) as it is to continue funding the functions of the government – this is also within the consideration that as the purchasing power increases and consumer base broadens, the funds coming from VAT will also increase creating more solvency in governmental budget as well, which translates to higher quality public welfare.

Thus with the Living Income Guaranteed there is one thing that is of vital importance: no one in the system, no citizen will pay tax – all tax will be facilitated by either value added tax or sales tax or import duties. If you have a government system that is responsible because you have a system where each one is functioning effectively within the system, you do not need excessive tax; your tax is spent on things like roadwork, transport facilitation – all things that can be handled ‘in house’.

One of the things that can work quite effectively also in a country is to have a toll tax on the roads which are managed by the government and that keeps the roads in place, so according to the use that one has of a road = will be the amount of tax you pay, but there will be in this proposal no income tax, so nobody is going to pay for anyone’s Living Income Guaranteed, it’s coming from the resource companies which everybody in the country are participating in and your sales tax or your value added tax will be according to the amount of your participation within a particular system – this is a fair way of dealing with government tax collection.

This is how the distribution of wealth and profits is expanded onto those that would have no benefit from the commercialization of natural resources and basic services, and due to the constant consumption and requirement of these, it is ensured that the foundation of the Living Income Guaranteed will always remain sustainable and have sufficient funds to cover the beneficiaries’ expenses.

Another example is how through stopping allocating money to fund wars, the trillions of dollars that are spent in the warfare industry can be designated to revitalize the economy through funding the Living Income Guaranteed and supporting the health care, education, commerce, production industries and basic services that require to be improved at home.

Will Public Services also be Nationalized?

Health care, education, water, electricity, telecommunications, media, banks will also be nationalized. Each country will have to assess their available resources in order for the government to make sufficient profit to fund the Living Income Guaranteed.

How can we implement the Living Income Guaranteed?

Through a political proposal, through existing or new political parties that have this mechanism as their key card to gain the majority vote to have our Fundamental Human Rights guaranteed through the Living Income Guaranteed. This means that the right to a Living Income must be granted on a constitutional basis – this is a national-based system constituted at a political level and able to be voted on within a democratic process based on the principle of one man, one vote.

LIG Hong Kong

 

Living Income Guaranteed and the Nationalization of Banks

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Banking in fact is a resource that is required by all citizens equally. If we look at what are resources that should be nationalized, the minimum guideline is that they are all the resources that are equally required by all citizens – this implies water, electricity, roads, transport systems, media, banking, etc. All of the stuff that is necessary for each one to have a decent life, and banking falls within this category.

Banking in a way has become so technological that it is no longer a major job creator; it is simply a management of funds. Therefore, if we nationalize the banks within the approach that with minimum wage one no longer allows personal debt to accumulate – because we will forgive all debt – and the banks facilitate points like building houses and facilitate the placement of motorcars that are debt based on capital investments, which are good for the economic growth – then we are looking here at a very stable banking sector. The profits that come from a minimal interest rate will be distributed according to what is required to facilitate the Basic Income Guaranteed in its totality in a particular country.

The point of importance to note with the Basic Income Guaranteed proposal is that personal tax will be abolished, but taxation in terms of transactions – which is a use tax, a per sales tax and value added tax – those types of taxes would be fair because it would be based on how much one uses the system and those taxes specifically would be accumulated to pay for the functions of government. 

To facilitate a society that will stop abusing each other, there is an interesting point that will have to be considered and that is to move away from cash money to total digital money, because with total digital money one will reduce the propensity to deal outside the system and as such to take part in criminal activities. This will also bring an end to the current issues with protests and social dissidence where the problem is being approached from the starting point of demanding others to make the necessary changes, without proposing any agenda that can lead to a feasible practical solution.

 

Within the Basic Income Guaranteed system the excuse of some wanting to deal with cash because of ‘not wanting to pay tax’ will become irrelevant. It’ll bring stability for the system because those that do pay tax on their services or their products bought will contribute to the tax resource that that will be collected by the banking sector. And so the financial system for the country will be very stable and the budget will be according to available money; and when necessary, pricing or tax will be adjusted for extra money and the governments will not be allowed to borrow money, so that these exorbitant amounts of interests that even go towards ‘unidentifiable parties’ paid for by the labor of the citizens, can finally be stopped.

With the Basic Income Guaranteed system: governmental debt and national debt won’t exist, there is no need for it. Proper accounting, proper planning will prevent this and it is suggested that in the basic Constitution it is placed that: a government cannot make debt. And ‘not being able to make debt’ will also mean that the government will have to spend money on issues that are genuinely relevant where things like war will come to an end and the education, healthcare and all sectors that are relevant to the citizen is what will be considered in the budgets.

Obviously when somebody disagrees with such practical reasonable solutions, one must investigate what criminal activities they are participating in that they want to protect, so that they can have ‘more money’ when it is not necessary because: there is and will be sufficient for all. 

 

Equal Life Foundation Research Team

 

Basic Income Guaranteed and the Nationalization of Banks

Living Income and Nationalized Resources

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For the idea of Basic Income that is currently being proposed by various groups around the world to work, one needs to look at the whole point of resources within countries and the most effective way to bring about a source that will be able to provide the monetary resources for a Basic Income for everyone – so that each one has got a basic level of dignity – would be to Nationalize all the Resources – whether it is mining or production within a country – to structure the products produced and the resources produced through a pricing structure that produces enough profit so that such money is specifically dedicated to pay a Basic Income to everyone in the country.

This is how the shareholder becomes the citizen and therefore the citizen benefits from the shareholding and the Basic Income becomes the way that the profit of the business is utilized to help everyone. Each one will be made aware of buying products from the very companies that are producing the income that will become the Basic Income Guaranteed. In this way, the Basic Income becomes possible, it is a form of socialism and it brings capitalism or the ownership principle of capitalism into a place where all citizens of the country become part of the basic capital, which is the basic resource that is then utilized for the benefit of all the citizens within the country.

This way the corporation = becomes government, the shareholder = the citizen, the profit = the Basic Income Guaranteed and you have financially sustainable basic solution to create integrity and to bring about the end of poverty within a country. From that perspective one can then develop business structures of competition, but there are certain things that are not part of competition: the human should not compete with each other to the extent where poverty is caused or where people are driven to starvation, or where people do not have homes or food – that is not competition, that is brutality and is completely unacceptable.

So this whole idea that competition and market forces ‘will sort it out,’ the evidence is quite clear: it’s not going to happen. What needs to happen is a directive action politically by people to bring about economic change, nationalize the necessary resources, make the citizens the shareholders, pay them as shareholders a Basic Income out of the profit, motivate them to buy from the products and the resources that are being nationalized because they are supporting their own business and that’s how we create a solution for Basic Income.

Some of the benefits of a Basic Income Guaranteed through the way we propose would be that in essence it is a redistribution of money which allows an interesting thing to take place: more people having money to spend on the basic things that are required for a decent life, will cause actually some of the corporations to make more money. There’ll be more money in the money supply therefore there will be economic growth and consequently, employment will be created and so people will be able to step into better positions and the benefits of such a scenario would bring about a positive growth within the whole system.

Understand that without having the resources, the way to guarantee how one will get the money in the current system, a Basic Income is impossible and that the current limited resources due to the absolute controls of the corporations and the extremes of competition in terms of how that has limited the growth of the money supply and limited the amount of the people that can participate in the economy = that scenario is a problem and one needs to have a solution. The solution is that one expands capitalism through nationalization by making the citizens the shareholders and so, grow the economic benefit for everyone. This is specially in things like cellphone/telephone companies, electricity, water, all the things that are basic needs must be corporations that are run by government qualified people and the citizens/the shareholders, wherein the pricing must be such to generate enough profit to be able to sustainably pay a Basic Income to everyone and within that, you’ll have a solution for the current problems and step-up eventually into a new system.

So let’s revisit: if one takes your Basic Resources like power, cellphones, telephones, water and one charges for them – because they’re required and consumed within a particular area or a country – according to a structure of profit to provide a Basic Income Guaranteed from everyone to everybody, you have a stable income because you have a stable user and the user is able to pay and it is part of their basic way of existence. Mining and other type of natural resources are all in a similar position and they should belong to the citizens and no one else. From there we can bring equal dignity to all from birth to death – but for that, we require to provide a lot of education because currently the human beings do not challenge the elites that benefit from winning in this competition of capitalism.

Competition is good if one competes with yourself to bring about a better product, to bring about advancement for all = that is competition within the principle of common sense. Competition that leads to destruction, poverty, starvation and that drives people out of their homes and that creates extreme wealth for just a few = that’s not competition, that is brutality and abuse of all Human Rights in every way.

Study the Universal Human Rights, study the Human Rights by The Equal Life Foundation. It is time that we take this on politically and bring about a change in this world because the situation is not going to get better without us doing something about it.

Join and research solutions for the world. It is time for change.

 

Equal Life Foundation Research Team

 

 

Basic Income and Nationalized Resources