financial sector

Living Income Guaranteed and Business Transparency

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Within the Basic Income Guaranteed with a capitalist approach, profit is one of its cornerstones; therefore it must be ensured. Another point that tends to waste extensive money is the point that new businesses are started which then fail.From that perspective it is a suggested that there – like you have with city planning – you have business planning where it is assessed what type of businesses the community can sustain that is possible within the money supply that exists, and that those businesses are then planned-out and offered to the citizen to take on with full support from the business planning section which should be part as a governmental function, a citizen support function ensuring that businesses do not fail.

This will save massive amounts of money which makes Basic Income Guaranteed a very cheap solution to a situation where there is seemingly endless amounts of money ending up in either foreclosure and/or failure and/or abuse and/or maladministration. At this stage there are no actual figures being kept of all of this – we never get to know the real numbers of how much is actually wasted. But there is more wasted through business failure, maladministration, charity and foundation creation abuse due to the influence of the consumer than what is needed to bring about a Basic Income Guaranteed.

You should ask yourself some questions:

  • Why are the no clear figures that inform the population of the administration of resources?
  • Why are there no figures kept of how much is actually lost through foreclosure?
  • How much is actually lost through businesses that are going bankrupt?
  • How much is actually lost through people losing their jobs at this stage, unable to participate in the system, unable for instance to pay tax or to buy stuff to increase the revenue streams?
  • How much is wasted by corrupt government officials?
  • How much is directed toward inappropriate placement of tenders?

These are massive amounts beyond belief; how much is happening because there’s no oversight and everybody participating in the system knows one thing: there are resources being stolen and there is maladministration and corruption, that’s why they don’t want transparency, it’s convenient.

In some countries like South Africa, there’s the prospect of placing in laws to ‘limit transparency,’ which is no different to saying ‘Let’s legalize corruption!’. So the integrity of the human within a Basic Income Guaranteed system should be administrated through a system. We have the technology now to have systems in place that can support the human to the extent of creating a system that is trustworthy and that assists everyone effectively in the world. We have the expertise to do this, now we need the will to stop corruption and to stop abuse. This can be done by Guaranteeing a Basic Income, guaranteeing a minimum wage and guaranteeing profit because all these three foundational stones will actually guarantee the existence and expansion of Capitalism and bring about a high functioning and effective society with the use of technology to produce what will ensure proper usage of resources, technology and human creativity. This cannot happen without a sense of freedom and money does give a sense of freedom.

We have come to the conclusion that trying to establish a society without a way within which the human can express their freedom is simply not going to work. Freedom is in money, it translates as the ability to express yourself in a way where you feel empowered as well as having your Basic Human Rights recognized and dignified. Not having enough money is to disempower people and to force them into crime and as you’ve noticed, massive amounts of money are lost to crime. All these things will stop if we have in place a proper technological system which we can establish with great ease at this stage. We have the technology and the managerial mechanisms to do so. In a matter of a few years, the whole world will be an internet grid and we can make use of all these things to prevent crime and corruption.

Basic Income Guaranteed is not only an opportunity to support yourself from an economic perspective in terms of ensuring everyone’s survival, but also from the economic perspective to have an equal opportunity to support yourself and your family, which is a Basic Human Right. This is the equal right we give to each other to potentially become wealthy individuals while ensuring all resources are made available for everyone equally.

 

Equal Life Research Team

Basic Income Guaranteed and Business Transparency

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