Are Universal Incomes The Solution?

The world will be fully relying on automation that will replace humans jobs almost completely. There will be only a few jobs left for intelligence roles to set up the automation algorithm, to make a business model and to lead the business operation which mainly will be operated by technologies.

But how about others? These few jobs will be very competitive and not for everyone. Without jobs, how people can earn income? Therefore, the country should give universal incomes for the society as the country is able to generate incomes from fully-automated productions.

Maybe we think that this will equalize society incomes. However, trading activities will be a new norm later as everyone will bet their universal incomes for future profitable business activities. People betting on their universal incomes to improve their level of lifestyle among the society by earning the dividends. This is taking into consideration that there is already a law to control unnecessary manipulative tradings activities.

Taxes may apply heavily on any transaction than ever before since not only the government but even the society earned incomes from taxes. These will create a unity between everyone to help each other by strengthening the policies to make it fair for everyone.

For businesses, especially the owners may majorly have their incomes come from business profits. Nevertheless, this is still a fair system that can be implemented as everyone have equally monthly incomes (according to age and number of family members) to live at least comfortably. Hence, expecting that the highest sales businesses will be the ones that selling basic consumer products. And on the other hand, some entertainment businesses will make among the lowest sales as the universal incomes are just to support the only basic needs.

However, the population will always grow and the technologies will keep improving to satisfy these growing demands. Over time, as the evergreen economic model is the business will soon be able to recover the initial capital investments and later need to hire intelligence such as scientists to find a sustainable substitute and hire more engineers to create technologies to increase their productions.

From the “high taxes” policies that already will be implemented to give people universal incomes. As the businesses grow and make bigger profits, simultaneously with the same percentage, more taxes will be earned as well which the government can give higher universal incomes after including the inflation.

Yes, universal incomes can be a solution, just need to be structured with strong policies around it and good implementation by the government.