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
This entry was posted in Accountability, Banking Industry, Basic Income Guaranteed, Basic Needs, Budget, Businesses, Capitalism, Cashless Society, Change the World System, Currency, Debt Forgiveness, Democracy, Digitalized Currency, Dignified Living, Economic Change, Economic Growth, Education, Financial Sector, Government, Investments, Minimum Wage, Nationalization of Resources, Planned Economy, Pricing, Redestribution of Wealth, Resource Management, Resources, Taxation, Transparency and tagged accounting, bank card, banking, banking sector, basic income, citizens shareholders, constitution reform, debt forgiveness, digital money, digitalized money, end of corruption, end to crime, equal life foundation, equality, financial sector, infrastructure, minimum interest, national budget, national debt, national pride, nationalizing banks, occupy wallstreet, pricing, profits, protesting, protests, self-sufficiency, solutions, Solutions for Basic Income, solutions for social dissidence, sustainable government, taxation, transparency, wall street.
This should be good news for the capitalists.
This proposal will have to become part of a political party’s manifesto and become part of their economic policy and they have to promote it within the context as presented to overcome the objections that are inherently glued to the view of the capitalist.
If you look at George Bush, David Cameron, Obama – they all have promoted the idea to ‘save capitalism’, that there is one thing everybody must do, they say: ‘spend more.’ But there’s a problem with what’s happening in the world there are fewer and fewer jobs which means people can spend less and less so all the economies are contracting because the money supply which at the end is dependent on the amount of people participating in the system with money is shrinking; the economic theory did not expand yet to consider proper solutions for the world. So the following is how one solves the problem.
In any given country you have citizens, they are citizens by birth and by birth they have a birth right towards citizenship in that country. We propose that that birth right should be including inclusive of the resources that are in that country – for instance, the mining resources and water resources, electricity, cellphones, telephones… all the points that are part of that country originally. But maybe it’ll be possible to only look at the resources that everybody requires and needs on a daily basis which are food, water, electricity and something like the cellphone, telephone and internet. These are things that are already in a country and they have intrinsic value. By utilizing these resources you have a situation where everyone in the country participates in contributing towards the total turnover of these particular resources.
If the price is set to be sufficient to accommodate sufficient profit for the shareholders – which in this case will be the citizens of the country – which then are distributed to all those citizens in the country that do not have enough income as a Basic Income Guaranteed, it is possible to set up a system which will have a very interesting effect for all capitalists. This is because suddenly, all the people in the country will be able to spend money; this will mean the capitalists that will so to speak ‘lose income’ because if they already own any of these resources in the country their shares will be transferred through nationalization to the shareholders that should have owned it in the first place, which are the citizens. In other words, if you take away anything from the security of a state and the security of a state is to supply and support their citizens: you’re committing treason. So by taking these corporations and creating them as private entities, taking it away from the rights of the citizens, in fact treason has been committed and this is being done through public relations and cognitive disinformation, by control of the media. This is why we also suggest that the media should also be controlled by the citizens because the media in any particular country is always the voice of the citizens. And therefore, all of these corporations still run as corporations, the only difference is that the shareholding is in the hands of the citizens and it becomes a matter of national pride, and they are managed properly by people that are properly skilled that do so for the benefit of the country.
This can become extremely valuable resources in terms of stabilizing an economy and presenting and producing sufficient profit that at the moment as we know, ends up in the hands of a selective few elite to such an extent that their combined wealth can stop poverty in the whole world several times, which means there is already enough money created. Obviously what they’re doing is a fascinating thing, in many cases they’re reducing prices of products simply to outperform the competition which causes massive unemployment in the world, purely to make more money but is justified as saying that ‘by making things cheaper = we’re making it more affordable for everyone,’ but if a person does not have an income = they don’t have a level of affordability, there is just no way they can own it. So when one takes this model and you apply it and you have each citizen with a Basic Income Guaranteed, the citizen now can spend money, this money will normally be spent at the normal corporations that now supply goods and services in all kinds of arenas, that will increase turnover, that would increase job creation and that would increase profits.
Now you’ll say “But if everybody gets a Basic Income, who’s going to do the work?” very simple, the minimum wage should be double the basic income so that the person is motivated to not use the Basic Income Guaranteed but to go out and work because that will give them access to money to buy luxuries as well, because the Basic Income Guaranteed will not be sufficient to buy ‘extreme luxuries,’ it will be to buy the basics that are necessary, to provide the education that is necessary, to have at least one motor vehicle to be able to have the transport that’s necessary.
Another suggestion within the Basic Income Guaranteed proposal is that there is also a subsidy for homes which is sufficient to construct a reasonable home because that will not only benefit the banking industry, but it will also benefit the building industry and so it’ll again have a knock on effect in creating cash flow which then creates money supply, which creates an economy that is growing and a happy capitalist, because there will be many more opportunities than what exists now.
One of the things that should be considered is the standard of goods – there should be a minimum standard and each country should have a bureau of standards that specifically makes sure that the products made available to the citizens as a matter of their birth right and their citizen’s right to have goods that are of real value, that these products are going through stringent tests. This way we ensure the capitalists don’t just try and make profit but actually provide a proper service and a proper product which will reduce a lot of the unnecessary energy spending in the world where things are just made for the sake of enticing people to buy through advertising. Thus, advertising should be not based on cognitive disinformation or on placing people in an emotional state when they’re buying, it should be based on fact and there should be better regulation about advertising so that people are not psychologically manipulated, because that is simply not acceptable.
When you have a system where you have your basic job facilitation which includes from janitors, to road builders to any type of job where your minimum wage is double your basic income, you will find that there will be enough workers to do the work because they’ll earn more, and those that work will have benefit because they will be able to buy better cars, bigger houses and they will thus have a better standing in the community which will motivate people to look for jobs and because lots more money is in circulation = new businesses will begin, which will again offer more jobs and thus create more opportunities for people to get a better income than just a Basic Income Guaranteed.
The Basic Income Guaranteed must be of such nature that it is sufficient for a person or a family to live a decent life, one worthy of their birth right as a citizen. Utilizing it this way, it becomes viable for the corporations to give up some of the things they control in favor of having a stable economy that provides a lot more money in circulation, which provides a lot more opportunities for profit. By doing this, one reduces various factors that have become extreme problems which are already being investigated by projects like the Big Project In Namibia: if everybody’s got a Basic Income: crime reduces, violence reduces and people want to improve themselves because they are no longer desperate, they have moved from desperation to hope and they start to educate themselves better.
This is an all-around effective solution where one can ensure then that the most Basic Human Rights as in the Universal Declaration of Human Rights is actually taken care of, the capitalists are kept happy, those that believe that ‘some are lazy and some are not’ are kept happy because they can now go and work and earn more money and leave the others with less money.
Essentially a Basic Income Guaranteed is at this stage a viable solution for a world in extreme trouble. Bailouts won’t work, people that actually want to send money to bailouts should rather send it to educating people about the validity of a system that is a mixture between socialism and capitalism and that protects the citizenship of each person within a country. And then between the countries they can work out solutions for those countries that’s got less resources and develop them to also have a similar resource structure which provides sufficient income in house through the internal use of for instance cellphones, airtime, electricity, water, media, that sufficient profit is made out of that to facilitate the Basic Income Guaranteed so that there is never any debt made for facilitating this.
This will also solve another problem that is going to become extensive in the next 20 years which is that all the pensions will be gone because it will replace the pension system, there will be no longer contributions to those pensions because a person will have a Basic Income Guaranteed it will thus, instead of money being invested into corporations, the money will be in the hands of the citizen. The citizen will then use the money to decide what is best and where to invest it.
To all the people benefited with Basic Income Guaranteed we suggest that that they save 10% of that money and invest it every month in the corporations, the other corporations that are not yet owned by the citizens and if all the citizens do that = very soon the citizens will own all the corporations and all the capitalists would have made their profit and will have a system where a person on a Basic Income Guaranteed will earn enough from their shares in the corporations that they will get to a point where their income is higher than the Basic Income Guaranteed and the moment that happens = they no longer are dependent on the Basic Income Guaranteed and they move towards self-sufficiency.
Basic Income Guaranteed will require certain rules. One of them being that one shouldn’t own more than one car – this means that if you have two cars = you have more money than you should have for a Basic Income Guaranteed; and if you have a job and the job obviously always will be according to minimum wage which is double the Basic Income Guaranteed= you no longer require the Basic Income Guaranteed because you’re now in self-sufficiency and that position opens up for another person, because one of the things about this world is that there are always new people arriving that are going to need some help to get into the system.
All education within the system, within a country should be facilitated by the Basic Income Guaranteed facilitation and because education is a calling and not a place of profit, all educators that are part of that should be placed on a Basic Income Guaranteed and all education at university level, everything should be free to the citizens because it is a Human Right to educate each one and it is thus facilitated so that we have in the education system those that truly do it for a calling and that are not doing it for money, because they are doing it as a service to their fellow citizens.
With the Basic 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 tax so nobody is going to pay for anyone’s basic 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 income tax – or shall we say government tax collection.
To have this facilitated effectively, the control of it will be important which means the total system will have to be digitized. The payment of the Basic Income Guaranteed will be via your bank card so it’ll be instantaneous and society will move towards a more ‘cashless society,’ but in a cashless society where one will have enough of what you need and nobody can take away your income because you are guaranteed this income unless you obviously have a job, which means you have double income.
In this proposal no matter what objection one could possibly have, there will be an answer, everybody will be satisfied. It’s a very simplistic solution that brings an end to the problems that are now in the world.
With the rise of the machine there’s going to be job-loss which means there’s going to be greater efficiency, which means there’s going to be less cost on input. So if there is job-loss = there is Basic Income Guaranteed. The type of new businesses that will develop will be based on human ingenuity, the great word that the capitalists like to use.
So the capitalists – those that want to earn more in the system – can come up with great ideas to create new employment and so to uplift people to a higher level of income or double at least that the Basic Income Guaranteed. So all desires, all hopes will be answered and in a way, the whole principle of the pursuit of happiness, the principle of each one being able to be in a world of opportunity instead of just a ‘land of opportunity’ of the US, it will be the whole world that will be a land of opportunity, a world of opportunity where you can be anything you want to be and the opportunities are endless.
Environmental policy will have to be strictly applied and wastage will have to be looked at and therefore the education system needs to be substantially upgraded. This is how each individual will be content and not worry about what others have, and instead work to earn a greater living if they truly want to.
So the Basic Income Guaranteed Proposal for the world is a solution of equal opportunity. If you do not want to make use of that opportunity, you’ll have a Basic Income Guaranteed – if you want to make use of that opportunity, at the very least you’ll have double the Basic Income Guaranteed.
‘How much the Basic Income Guaranteed will be’ is going to be worked out according to what is necessary for a person or a family to make a decent living. In this one will probably have to look at the one thing that needs to change which are currencies, there will have to be one world currency because the need for currencies will no longer exist, because that is only being used by the richer countries to steal resources from the poorer countries and that’s no longer necessary because there’s enough money to pay for it anyway. Therefore, we don’t need ‘exchange rates’ anymore, you can have your own money but it is equal. So if you have the euro = one dollar = one yen = one pound = one rand = one peso – that will make sure we have no more peasants.
It’s obviously the ultimate patriotic system you could ever come up with, be a patriot, be a BIG supporter and remember capitalists: here is your ultimate opportunity of making profit, you will never have had such a good opportunity before because now, your ability to come up with the ultimate product that entices the population to buy it is now at your feet.
Join BIG, be Big hearted: it’s time.
Equal Life Foundation Research Team
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