Feb 29, 2016

Universal basic income: It's not a question of money, but will and commitment

How This Couple Retired In Their 30s To Travel The World. This is a story at Forbes of a young couple who worked, saved, invested, retired in their 30's and are lazing around the world. There is even a detailed report on their investment income and tax for 2014.

The moral of the amazing story is very simple. First you must save, then you can get a good regular income from your savings. This basic truth applies to couples and applies to countries.

The most common objection to a universal basic income is that there is no money. But if there is a will, there is a way. Follow the young couple. The government can start saving. There are lots of expenditure in the government that is really not necessary.

And be committed. Put it all legally into the country constitution and make it near impossible to change, e.g., with at least 90% agreement in a referendum. Over 10 or 20 years, there will be money for a good universal basic income.

And, of course, many countries already have big savings to fund a good universal basic income immediately. Those countries have been saving for many years. For them, clearly, there is money but no will.

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