I am unable to read the article on my iPhone, however I think there is merit to the idea if the funding is on a solid basis. Governments should stop borrowing and pay off their debts. Then they should start trading in securities—build up huge managed funds. At some point taxing would become unnecessary. Later a guaranteed subsistence income could be instituted, with all citizens sharing, and every social program could be eliminated.

This is not such a radical proposal—Alaska has its permanent fund, and I believe Norway has something similar. Canada funds pensions through investments.

The program would have to be closely monitored and regulated but the benefits are potentially great IMO.

Stockton in California was to be trialling this, I think Iceland and Switzerland have had trials, there was one many years ago in Austria. I made a submission to our Gov back in 1990 with the outline and it was embargoed for 25 years. The numbers are fine, it can work mathematically as well as any other system, better than many. Bottom line is it is a redistribution of wealth and income that is fairer than many other models. ie The last thing those in power would want.

Best idea ever.

The more I read about this, the more sense it makes. We in the US would have to embrace Medicare for all or a guaranteed health care model of some type for it to work. It would actually allow for the dismantling of current social assistance programs and their bloated administrative costs which are extremely high. The minimum wage could be eliminated because those jobs now still needing to be done would actually have value and command a realistic wage. The other benefit is the increase in creativity/entrepreneurship in as people could pursue a small business without the fear of failure. I think it is the wave of the future if people could just get over the whole "Thats Socialism" BS prejudice against it. Hell the government subsidizes business all the time, many not needing it. Why not subsidize all of our citizens instead?

Why is that interesting when I live in SA ?