Uncommon UBI alternatives:
We could start with understanding why the wealthy are wealthy. If we figure that out, and universally distribute that — whatever it is — then perhaps the inequality will be reduced, eventually, to a socially acceptable level.
So, why are the wealthy wealthy? No doubt there are dozens of reasons we could cite, but the primary one is that they do not work for their income. As Warren Buffet famously said “If you don’t find a way to make money while you sleep, you will work until you die.”
Okay, so what can we do with that thought? Let’s see, if the wealthy let their wealth earn them money, and if this is predominately done with investments in the corporations, the means of production, the growth and expansion of productivity, then somehow we need to get that into the hands of everyone.
What about this: create a financial instrument which can be distributed — UBI style — to every citizen of the country. Let’s say we create an ETF, an exchange traded fund, which is comprised of the rolling top 10000 companies and utilities, include bonds and treasuries in the instrument — a smorgasbord of components that represent the country’s economy.
We take that EFT and we give shares of it away to every citizen, one share per month, for life. We make investors out of every single person in the country, invested in the country itself, its progress, its future.
Some people will turn around and sell their shares right away. That’s okay, let them. They can use that money like the common UBI that has been proposed.
Others will let their shares sit. Accrue. Gain value and multiply. When they need cash for emergencies or buying a house or car, they can sell them then.
We could label this ETF: USAA — United States of America for All.
This would give cash to those who need cash, but for most, I suspect, it would give them a sense of participating in the wealth growth of the nation. Their investment would be making them money — “while they slept.”
This let’s every citizen participate in the economy just like the elites on Wall Street. This distributes Wall Street level prosperity down to Main Street where it’s needed.