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It’s not hard to envision the benefits in work opportunities, stress reduction, child care, entrepreneurial activity, and artistic pursuits for American households given an extra $1,000 per month. It’s also very easy to justify a financial wealth tax, given that the dramatic stock market surge in recent years is largely due to an unprecedented degree of technological and financial productivity that derives from the work efforts and taxes of all Americans. A 2% annual tax on financial wealth is a small price to pay for the great fortunes bestowed on the most fortunate Americans.
The reasons? Careful analysis reveals a number of excellent arguments for the implementation of a universal basic income (UBI).
1. Our jobs are disappearing.
A 2013 Oxford study determined that nearly half of American jobs are at risk of being replaced by computers, AI and robots. Society simply can’t keep up with technology. As for the skeptics who cite the Industrial Revolution and its job-enhancing aftermath (which actually took
I think Trump does not even know that he is destroying our country with everything he does. I hope he can be impeached before he does any more harm to everything our Constitution stands for, because he does not understand the philosophical concepts within it.
P.S. The 2% wealth tax would be a great idea, which would be helpful to those of us who are struggling to survive on Social Security as well as those who are on welfare who are in even more trouble financially. It would make equality a reality for most of us.