Apr 18, 2014

The wealth of nations (The Hewitt version) and the size of your citizen dividend

Public money wealth per capita
This picture is from a post on The Wealth of Nations, by Mike Hewitt, at http://dollardaze.org/ It was done in 2008, and the numbers are outdated. For example, Norway has 1 million Norwegian Krone per capita in 2014 just from the Norway sovereign wealth fund. That is about US$170,000, way more than the amount shown in the chart above.

An updated chart will be useful in calculating how much citizen dividend is possible just from the government's money wealth. This amount does not include other wealth assets such as oil, land, minerals and water.

Using Norway as an example, the sovereign wealth alone is US$170,000. If the sovereign wealth fund makes 5% return, that will mean a citizen dividend of US$8,500 for every child and adult.

The UAE, the top country in the chart, clearly can afford a huge citizen dividend just from its sovereign wealth fund.

Apr 15, 2014

Opinion: What if the government guaranteed you an income? - CNN.com

Opinion: What if the government guaranteed you an income? - CNN.com: By David R. Wheeler
April 14, 2014
"First, the bad news: Even if the economy improves, middle-class career paths will continue to disappear as globalization and technological innovation render more jobs obsolete."
Citizens should stop believing in the "pie in the sky" promise of full employment (with good jobs, of course).
"Now, the good news: The fear, stress and humiliation caused by unemployment (and underemployment) can be alleviated with a simple solution.
And now, the even-better news: This simple solution is starting to find backers on both sides of the political spectrum."
Yes, the only solution is the citizen dividend or universal basic income. By the way, it is not the government giving you an income. It is the government returning you your confiscated citizen dividend.

Apr 14, 2014

Strangly, the reasons for not increasing tax on the rich are also good reasons for a citizen dividend

There is this argument at the economist on whether or not to tax the rich more. Let us see some of the arguments for not increasing tax on the rich.
1) "Should the rich pay higher taxes? Definitely not. Governments do not need any more money, and they misallocate much of what they already take from us. Furthermore, taxation imposes large deadweight losses on the economy, which makes us all poorer."
Yes, the governments (at least some) have so much money and they misallocate much of the citizen dividends that they already confiscated from us. Confiscation of our citizen dividends is a large deadweight loss on the economy and makes us all poorer.
2) "The most recent data for 2005 show that effective rates (taxes divided by income) for the quintiles starting at the bottom were 4.3%, 9.9%, 14.2%, 17.4% and 25.5%. That is a steeply graduated tax system. I would prefer a flat or proportional system because I believe in the American ideal of equal justice under law. But it is amazing that some people want to increase taxes on the rich when the top quintile is already paying a rate five times higher than the rate at the bottom."
Do not just look at income. Count in the confiscated citizen dividend as well. As this post shows, the reality is that the poor are paying close to 100% tax rate. We have a regressive tax, not a progressive one. It is time to rectify this.
3) "The rich have been pummelled with an effective rate of 25% or more for decades, while effective rates on the other four quintiles have fallen modestly."
The poor have been pummelled with an effective rate of 100% since the age of governments.
4) "That is the economics of tax hikes, but what about the politics? The Economist proposition suggests that "resentment over inequality is growing ever more vocal … is taxing the rich more heavily necessary to buy social peace?""
No, it is not  necessary. Just return the confiscated citizen dividends .
5) "There are fundamental reasons why big governments do not work very well. As taxes rise, resources are shifted from more efficient private activities to less efficient government activities."
It is time to stop pretending that the confiscated citizen dividends are being well spent on community projects for the social goods of the people. There is a video to illustrate this (Oil2cash).

Time for us to demand the return of our citizen dividends.

Apr 13, 2014

Capitalism simply isn't working. The Popes have indicated the solution.

Capitalism simply isn't working and here are the reasons why by Will Hutton
Economist Thomas Piketty's message is bleak: the gap between rich and poor threatens to destroy us.

Capitalism isn't working. The solutions listed: 
"The solutions – a top income tax rate of up to 80%, effective inheritance tax, proper property taxes and, because the issue is global, a global wealth tax – are currently inconceivable."
Note that the solutions are all cutting from the rich.

More attention should focus on the other end, the poor.

Both the current Pope and the previous Pope have indicated the solution that focuses on the poor.

This is what Pope Benedict XVI  says about justice and social doctrine (in Encyclical Letter. Caritas in Veritate):

Justice "prompts us to give the other what is “his”, what is due to him by reason of his being or his acting."

Citizens should get citizen dividends by reason of being citizens. Just for being citizens, we should get our citizen dividend. We citizens own the country's common wealth or public asset. The injustice is that almost all governments confiscate 100% of our citizen dividend.

This is what Pope Francis says: restore to the poor what belongs to them.

Yes, restore the citizen dividends back to the poor. The dividends belong to them, and to everyone. The rich don't mind losing their citizen dividends, but to the poor, the citizen dividends are critical.

Apr 10, 2014

The working classes don't want to be working classes

The working classes don't want to be 'hard-working families' by Selina Todd
The Guardian, Thursday 10 April 2014
 "The rhetorical label 'hard-working families' has won Labour no voters and ignores the true nature of social change."
"Hard work has never solved poverty. We work longer hours now than we've done for 50 years, yet the gap between the rich and poor has never been wider."
The working classes shouldn't continue as working classes.
It is time to migrate to the ownership classes. We own our country. It's time to demand our royalties, i.e., citizen dividend, citizen income, or universal basic income.

Apr 9, 2014

A person dedicated to the citizen basic income for 40 years

Citizen basic income. Clive Lord
March 28, 2014 · by Clive Lord ·
"My problem is that I keep finding things that make me, and nobody else, think of the Citizens Basic Income."
"I have been pushing the Citizens' Basic Income for 40 years."
This person should be in Prospect magazine's list of top 50 thinkers in the world.

He is not alone. There are more and more people who think like that.

FAIRBANKS, Alaska: Alaskans' donations from Permanent Fund dividends continue to grow | State News | ADN.com

FAIRBANKS, Alaska: Alaskans' donations from Permanent Fund dividends continue to grow | State News | ADN.com: A
April 3, 2014
FAIRBANKS, ALASKA — Alaskans pledged record donations from their permanent fund dividends once again this year, according to an announcement from the PFD fundraising campaign, Pick.Click.Give.
While the good politicians are working hard to protect the citizen dividend from potentially bad politicians, the citizen dividend is encouraging more and more donations from Alaskans.