Friday, November 10, 2017

One and One

Some solutions take time. Australia has been gradually building up Superannuation Assets. As of December 2016, Australians had AUS$2.2 trillion in these funds. The contribution rate was initially set at 3% and has gradually increased as people got used to the idea. It is 9.5% now and is planned to increase to 12% in 2025. The 'three pillars' being (1) compulsory employer contributions, (2) additional self-funding, (3) if necessary additional means tested government support. One way for a Community Wealth Fund to pay 150 Universal Basic Incomes would be to start small. Each person joining could commit to Funding one for themselves, and one more (one for me, one for you). It may take time. It will take time. Eventually you could get to a stage where a fully funded Community Wealth Fund (say US$15 million?) could pay R3,000/ $250 / £200 to everyone. Then the fund could increase that amount over time, or help other groups form, or split into two groups and build up again. Solutions take time. Not time spent. Time well invested.

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