People don’t need to be millionaires, what they do need us to be able to have a decent standard of living and opportunities poverty prevents. That’s achievable.
One of The Democratic Party Presidential candidates (Andrew Yang) has submitted a proposal in his candidacy manifesto that American families would receive a tax-free stipend of $1000 per month to utilise at their discretion.
His numbers work in theory (although we know that practice is a different subject).
In a similar scenario, if the UK government proposed a similar plan, at say £500 per month. There would be those inclined to spend. Those inclined to save. Those inclined to ingest substances.
Whatever the choices made, there would be those who prosper. Those who remain constant, and those who would fall under the heading 'natural wastage'.
The economy would always be ticking over though and spending would continue. The government would obviously force a grab-back with higher duties and VAT, but at least our choices would be expanded.
The other perk with this system is the potential job-sharing aspect. With that added income, many employees would be reluctant to work beyond their 37.5. The likelihood is that 30 hpw would become the new 'norm', thus creating spaces in the job market that have to still be filled.
Not sure how this has anything to do with Tom Rogic, but I'm thankful for the distraction from my current nervous disposition.
