Time for Basic Income

Interest is the salary of money. Money that works for someone else. The theory of reducing interest rates is that banks can then loan that money to businesses for less. Which makes things that previously weren’t profitable to invest in profitable. It also means people who live off interest get less. It is a transfer of wealth from people who lend to people who borrow. Whether or not businesses take the bait and invest. If there is general uncertainty they may choose not to. Businesses need to survive. Continuing paying workers who aren’t working when customers aren’t paying, is as difficult as continuing being a customer when work (and the wallet) dries up. Things grind to a halt. Paying workers when they don’t work is also effectively a regressive tax (higher earners get more). A Basic Income would give everyone the same, and wouldn’t place the burden on job creators who are likely under pressure. Cash in hand. Unlike businesses unsure whether to invest, people aren’t unsure whether to survive. A Basic Income can be the catalyst that lights the fire. Both to stay alive while it is cold, and to warm things up when the winds calm.

pic: www.benmolyneux.co.uk