Universal Basic Income (UBI) means that each person is paid (by the government) enough money that they can afford food, shelter and even a carefully budgeted social life without the need for work. The extremely poor would be paid exactly the same weekly wage as the extremely rich. Where would this money come from? A tax on the obscenely rich of course.
Category: Ethics and Society, Money, Philosophy, Public AffairsTags: Amazon, Automation, Basic Income, Diminished Returns, Economics, Employment, Fairness, Happiness, Income Inequality, Income Tax, Inequality, Luddites, Minimum Wage, Philosophy, Robots, Socialism, Technology, Unionisation, Universal Basic Income, Wealth Tax
A report released in 2017 found that over half of all global emissions since 1988 have been produced by just 25 companies. When you take into account the 100 most environmentally damaging companies, known as the ‘Carbon Majors’, that figure rises to over 70%. Even so, we are constantly told that individual actions like using canvas bags and taking the bus will be enough to avoid the catastrophic effects of climate change. The truth is that the onus is on the major greenhouse gas emitters like Exxon Mobil and Shell Oil to simply stop extracting and distributing fossil fuels. Unfortunately, the pressures of the competitive market mean that they are not going to do this without a push.
Figures from the World Inequality Report show that while the income of the US population grew by a total of 63% between 1980 and 2016, the income of the top 0.001% in the US over the same period grew by a gargantuan 629%. When we look at the global rankings, we see that, for the most part, the most equal countries are also the happiest and the least equal are the least happy.