Americans need a $2,000 monthly guaranteed income (Universal Basic Income)
When you frontload money into We The People, We spend it – unlike big business who SITS ON THE MONEY and holds their breath thru the hard times while the worker dies on the vine.
Instituting a UBI would be the best thing to happen to the U.S. economy as increased consumer spending will drive increased sales; increased sales will drive increased orders, increased orders will drive increased production; increased production drives increased profits and taxes as UBI spending circulates throughout the economic circulatory system.
Instituting an annual UBI would create an enhanced stabilized economic boom unlike anything we’ve ever experienced before UBI.
Instituting a UBI will set record increases for the Consumer Price Index and Producer Price Index. Remember, the great majority of U.S. GPD is mostly a direct result of consumer spending – so guess what happens when you increase consumer spending? The rising tide does indeed rise all boats. Instead of money never trickling down from the 1%, annual UBI will guarantee the free flow of money circulating thoughout our economic system.
HOW DO WE PAY FOR UBI?
We pay for UBI by stop borrowing from the damn Federal Reserve! There’s no need to borrow anything from anyone since our Congress has the constitutional authority to direct deposit unlimited currency into U.S. gov’t bank accounts…….we’ve been lied to for so long….your favorite Congressperson has been lying to you telling you our gov’t operates like a household budget with limited funds…….
We pay for UBI by appropriately taxing mega-corporations and Congress direct deposting currency into our U.S. government bank accounts at the U.S. Treasury Dept.
Congress should pass an annual U.S. expense account bill to pay for UBI and additional government programs. Since this money is NOT borrowed from anyone, this money can be spent as an expense of We The People.
When I say “appropriately taxing corporations,” I’m talking about taxing large corporations with assets of at least $500 million a 50% corporate tax. I’m talking about we can completely eliminate imposing federal taxes on small businesses and the middle class and poor, by imposing a 50% corporate tax and by Congress direct depositing currency into the Treasury Dept.
There is simply no need to impose a federal income tax on the middle class, poor and small businesses to pay for federal programs which can be paid for taxing large corporations and depositing currency directly into U.S. gov’t bank accounts at the Treasury Dept.
The best and only arguments the bi-partisan Congressional crimewave can produce against instituting a UBI is 1) Inflationary concerns; 2) workers won’t go to work if they receive a monthly $2,000 UBI guaranteed income. THESE ARGUMENTS ARE SIMPLY NOT TRUE.
First of all, let’s address the rube of “inflationary concerns.” Did you notice Republicans never bring up inflationary concerns when they award themselves with multi-trillion tax cuts which are not spent by the wealthy but hoarded by the wealthy? No sir, not a word about inflation during the wealthy tax cut bill-making process. BUT, let Democrats even breathe the term “UBI” and suddenly Republicans claim great balls of inflation will drop from the sky killing us all.
Inflation is when the demand for products and services outstrip the ability of producers to produce good sand services, theoretically increasing the costs of goods and services.
America 2021 does NOT have a problem producing goods and services. The only threat of inflation comes from borrowing money from the Federal Reserve: the Federal Reserve can raise interest rates at will, and they’re not even elected officials. Again, there can be no inflation as long as we do not depend upon or borrow more money from the Federal Reserve. This is not the seventies; America has no production problem.
Secondly, Republican politicians make the farsical claim if our gov’t gives everyone a $2,000 a month UBI, no one will go to work. This is simply NOT TRUE. What is true is conservative business owners don’t want ANY FORCE causing them to offer a decent wage for their employees; instituting a $2k UBI would force employers to offer significant wages for their employees.
Conservatives like Ted Cruz and Josh Hawley believe their opposition to minimum wage increases is what is driving Americans to get up and go to work in the morning. Their arrogance and indifference knows no known boundary.
Small business owners must realize they must pay a decent wage or do not expect to be in business. In our capitalist society, some other business operator will take up the slack by offering decent wages to workers. This economic Darwinism will tend to weed out unscrupolous small business owners.