Did you know that Amazon CEO Jeff Bezos has a personal worth of $80b?
Did you know that the stock market value of Apple is over $1t.
Did you also know that both companies continue to become more efficient as the years go by? They do more with less. They use robots packed with artificial intelligence. That means not using more humans. It means using less humans.
Do I believe Amazon and Apple are cheating? No. Does that mean Amazon and Apple are crooks? No.
What does it mean then? We need an economic model to close the widening wealth gap between workers and the CEO of Amazon and Apple. Also, we need an economic strategy to financially stabilize workers who are fighting for fewer and fewer and fewer jobs.
How do we do this without creating a socialist/Marxist nation? By making sure that the economic policy we introduce remains in the private sector. In other words, cash would go directly to the people to consume as they saw fit.
Here’s the idea:
Implement Universal Basic Income (UBI).
What UBI does is guarantee every American $1k a month in cash to consume as they please. Here are the benefits:
-It would put approximately $324b of additional cash on a monthly basis in the hands of the largest classes in America, namely the middle class, lower class, and poverty class.
-it would not be inflationary because the cash will be used to buy consumer goods. . It creates huge demand for which businesses would be motivated to supply.
-it would meet the two basic needs of families in poverty. It would give single mothers with children a basic income and it would motivate fathers to stay with their abandoned families.
-It would supply every American worker a stable supply of cash as robots and Artificial Intelligence (AI) continually eat up human work.
-it would be financed by a tax on every robot and piece of AI software. Additionally, it would be financed by using money freed up as levels of bureaucracy tied to regulating programs that grant aid are discarded. Last, it would be generated by increasing the supply of money.
Eventually, most democratic nations will have some kind of guaranteed income.