Universal Basic Stake would be more in tune with the idea of Capitalism 2.0
Instead of everyone being born with nothing (except that provided by their parents), everyone would 'own' a share of the national wealth. This share would provide a UBI, and eventually transition into a retirement fund. The bulk of the capital in the share would be in safe income bearing assets (interest rates will need to go back to ~5% for this), but a potion could be allowed for spending at the discretion of the individual, to cover large purchases such as deposit on a house, or a car. You would be able to pay into your stake if you wanted a better retirement or to save for something.
This would be financed through a sovereign wealth fund, constructed from taxes on natural resource extraction (e.g. Norway), but also heavily progressive wealth taxes (perhaps increasing up to as much as 20% each year on personal wealth above 5MM USD). Such a wealth tax acts to counterbalance the natural accumulation effect of capitalism, i.e. the rich getting richer only because they are rich.
People will see it not as a handout, but as a way of participating in the capitalist economy. If the economy does well, then the stakes will increase. There would be a sense of ownership and (hopefully) a stronger feeling of social responsibility flowing from that connection.
However a UBI/UBS should only come after universal benefits in kind: Healthcare, public transport, professional policing, transparent and democratically accountable governance, education according to ability not ability to pay, high quality housing stock, consumer protection standards, environmental protection standards...
Instead of everyone being born with nothing (except that provided by their parents), everyone would 'own' a share of the national wealth. This share would provide a UBI, and eventually transition into a retirement fund. The bulk of the capital in the share would be in safe income bearing assets (interest rates will need to go back to ~5% for this), but a potion could be allowed for spending at the discretion of the individual, to cover large purchases such as deposit on a house, or a car. You would be able to pay into your stake if you wanted a better retirement or to save for something.
This would be financed through a sovereign wealth fund, constructed from taxes on natural resource extraction (e.g. Norway), but also heavily progressive wealth taxes (perhaps increasing up to as much as 20% each year on personal wealth above 5MM USD). Such a wealth tax acts to counterbalance the natural accumulation effect of capitalism, i.e. the rich getting richer only because they are rich.
People will see it not as a handout, but as a way of participating in the capitalist economy. If the economy does well, then the stakes will increase. There would be a sense of ownership and (hopefully) a stronger feeling of social responsibility flowing from that connection.
However a UBI/UBS should only come after universal benefits in kind: Healthcare, public transport, professional policing, transparent and democratically accountable governance, education according to ability not ability to pay, high quality housing stock, consumer protection standards, environmental protection standards...