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A detailed proposal for the creation of a dividend-paying social wealth fund.
What do you guys think, is this a good idea? Do you agree generally but disagree on this or that detail?
The link leads to the full paper if you're interested. Here's two videos released by the same think tank that address first what they see as the systemic problem with capital income and the second which describes the Alaska Permanent Fund which they see as a model for tackling inequality.In the paper, I argue that the federal government should create a new investment fund called the American Solidarity Fund (ASF) and issue every American adult one share of ownership in the fund. After the ASF is created, the government will gradually accumulate assets for the fund to manage, such as stocks, bonds, and real estate. As the assets under management increase, the value of the shares held by the citizen-owners will increase, causing wealth inequality to fall. Although the citizen-owners will not be permitted to sell their shares, they will be paid a universal basic dividend each year from the investment income earned by the fund.
What do you guys think, is this a good idea? Do you agree generally but disagree on this or that detail?