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BASIC INCOME
Our nation's prosperity depends on two important factors
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Our ability to produce all that we need, and
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Our ability to buy all that we produce.
Our ability to produce more is not the problem.
The problem is matching the ability of the consumer to buy with our ability to produce.
Basic income would help to grow the economy.
With a 0.25% payments tax we could afford to pay $24k in basic income to every adult citizen in the nation.
Basic income puts more money in the pockets of consumers, increasing demand so the economy can reach its full potential.
A stable retirement.
With a 0.25% payment tax we could pay senior citizens ages 70+ $36k per year in basic income.
Basic Income can replace Social Security with a more stable and efficient retirement system.
EARNED INCOME CREDITS
Earned Income Credits can be used to incentivize work.
We need people to work to have a healthy economy, so we should combine basic income with earned income credits.
Today welfare recipients lose their benefits if they work, trapping people in a cycle of poverty.
A 0.2% payments tax would generate sufficient revenue to pay the following credits.
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