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Basic Income through a National Dividend

     All dividends are a distribution of profits. Most modern Nations are profitable, although Nations don’t now do Profit and Loss Accounts. By way of example a Profit and Loss Account for the United States was done privately in Australia for the year 2014. Using US Federal Reserve economic data (FRED), US Bureau of Economic Assessment statistics, and some private research the profitability of the United States was affirmed. It showed that while $12.5 trillion of consumer goods were both produced and sold, the total aggregate income of all persons was only $10.1 trillion. This sum of consumer production over and above the total incomes paid to induce it, amounted to $2.4 trillion in total, and to $7,500 per person, or to $30,000 per American family of four.

     The excess of consumer production over consumer incomes was financed by the United States’ total indebtedness increasing in 2014 by $2.3 trillion. Because America is profitable each year, it has to increase its debt each year to finance the consumption of that part of its consumer production which its incomes will not buy. Failing this, the Nation would go into recession and eventually into economic depression. This debt was supplied by the Reserve Bank in association with Private Banks, creating new and additional money and distributing it as debt owing to themselves. This is a regular occurrence every year. It might as easily have been supplied by a National Credit Authority with court-like powers, both calculating the National Dividend, and empowered to distribute it to all persons in equal measure and without discrimination. It would be distributed as a dividend, that is, debt free and without any interest or fees charged.

     This finances a large measure of Basic Income without taxing anyone, or increasing the Nation’s indebtedness. All Banks would be restrained from funding consumption as debt, to the extent that it has now been funded by the National Dividend. No more money is being created here. The same amount as is normal would be created, though in a different way. This avoids double funding consumption and creating demand inflation, and being created without any need for repayment or interest, there is no cost-push inflation either. The Banks would continue to finance production as they do now, and with minimal regulation. Any inadequacy of the National Dividend would be supplemented with social security funded by taxation in the normal way. While this appeals to most, it may displease some vested interests. If a technical review of the National account mentioned above is desired, it may be viewed at http://www.socialcredit.com.au/uploads/NationalAccountsPrototypes.pdf 

     A 46 minute discussion of a National Dividend may be viewed at  https://youtu.be/H79b6ZgQv10    

     Please forward this email on to your friends if you found it interesting. The mass media will not help until the battle for National Dividends is already won. Empower yourself and others by spreading this message one to one via the internet. Please act. We have nothing to lose but our ever increasing indebtedness. Visit the website www.socialcredit.com.au  for other relevant information.

 

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Thursday, 02 July 2020
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