20 August 2024

Self-funding Universal Basic Income

I congratulate Michael Lester and Bronwyn Kelly for their Universal Basic Income proposal and wish to suggest a politically compelling way for its introduction. The idea is a counter-intuitive self-financing tax incentive. Shareholders who change the constitutions of their corporations obtain bigger, quicker and less risky profits. But, on condition, they endow a small fraction of their equity each year by a book entry to a Stakeholder Equity account. Corporations then create Stakeholder shares, which they only endow to citizens, who can vote for the politicians who can vote for the tax incentive. Non-self-funding tax incentives are used...