A powerful argument for Universal Basic Income.

A powerful argument for Universal Basic Income.

Which is to say, 10% of all national income is paid out to the 1% as capital income. Let me reiterate: 1 in 10 dollars of income produced in this country is paid out to the richest 1% without them having to work for it.

The fact is that capitalist societies already dedicate a large portion of their economic outputs to paying out money to people who have not worked for it. The UBI does not invent passive income. It merely doles it out evenly to everyone in society, rather than in very concentrated amounts to the richest people in society.

HT Thomas Power

https://medium.com/@MattBruenig/the-ubi-already-exists-for-the-1-d3a49fad0580
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