The re-set’ is a UK-based movement consisting of several proposals to effect ‘a constitutional re-set to re-store fair principles, accountability, community led governance and ethics. Ensuring peoplecare, earthcare and fairshare for the benefit of all’. You can check out their website here: www.thereset.org. An overview of the proposals is presented here: http://www.thereset.org/proposals.php.
In this blog the focus is the Proposal on the abolition of Taxes. The re-set proposes to abolish the current tax system and replace it with ‘TEAL’ – Total Economic Activity Levy:
“TEAL is very much a ‘pay as you go’ tax. Every time money is withdrawn or paid into a bank account, a tiny percentage of money from each transaction will speedily find its way into the treasury. Even people without bank accounts will contribute, because whenever a pack of cigarettes or a loaf of bread is purchased, the seller (say a shop) will be paid, and when the shop pays into his bank TEAL will be collected, and if you sell your labour (i.e. you have a job) TEAL will be paid by your employer and collected by your bank.”
This principle is the same one we propose under the Living Income Guaranteed Proposal. Within such a system, the focus changes from ‘redistribution’ to plain ‘contribution’. It’s not about trying to equalize incomes and moving it from the rich to the poor – but a matter of: if you make more use of the economic system, you proportionally contribute more to sustain it. One likes to believe that one’s wealth is derived from merit alone – but it simply isn’t. There is an entire economic system in place that enables a successful person to be successful. There are those who have gone before you, who have shared their know-how with you, there are those who have an income to buy your goods or services, an income they earned through participation in the economic system, there is physical infrastructure like roads and railway systems that enable all economic activity. If the economic system was self-sustaining and never required any financial input in order to maintain it or correct its inherent weaknesses, then we could say the economic system is a free one. Obviously, that is not the case. The ‘pay as you go’ tax is therefore a reasonable method of collecting the funds to be re-invested within the economic system that each one depends on.
If a basic income or living income is provided through non-tax funding – then the ‘pay as you go’ tax or ‘TEAL’ should be sufficient to mobilize the funds needed for other government expenditures, which we suggest would be quite limited if the economy in itself is largely corrected and empowered through the integration of the Living Income or Basic Income – then other taxes can indeed be abolished.
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Various studies show that early language acquisition plays a major role in setting the stage for a child’s future achievement course.
By the age of 24 months, one can already gauge by the size of the child’s vocabulary, how smoothly the child’s cognitive development will unfold and whether the child may face a challenging learning and growth trajectory. As early as 18 months of age, a lag may already become apparent between children of the same age in terms of their information processing capacities. From there – the gap either grows or remains proportionately consistent. How well the child’s processing skills and vocabulary are established as babies and toddlers, in turn plays a detrimental role in whether or not the child will reach its full potential at adulthood.
What causes a child’s processing skills and acquired vocabulary to be underdeveloped? The direct answer would be: How much a child is being talked to and the range of vocabulary used when being talked to. However, the condition that rules this variable (how much one is being talked to and what range of words) is the socio-economic environment that the child finds itself within.
Parents from mid to higher levels of socioeconomic status generally have more time to spend with their children and they themselves possess a richer vocabulary than parents of lower socioeconomic status.
Parents coming from a lower economic status may be working several jobs to make ends meet and have a more limited vocabulary. Having to cope with more stress and anxiety due to every day struggles can lead one to be more taciturn. All of this adds up to less words from a limited range being spoken towards the child(ren).
Besides being externally disadvantaged due to lower economic status limiting future opportunities, children are also internally disadvantaged in how well they will be able to exploit the opportunities that will be available to them because of stunted vocabulary acquisition and cognitive skills.
“By 2 years of age, these disparities are equivalent to a six-month gap between infants from rich and poor families in both language processing skills and vocabulary knowledge,” Fernald said. “What we’re seeing here is the beginning of a developmental cascade, a growing disparity between kids that has enormous implications for their later educational success and career opportunities.”
As discussed in other blogs (Living Income Guaranteed and Raising Children, The Self-Perpetuating Cycle of Homelessness and Living Income Guaranteed), the implementation of a Living Income Guaranteed will provide an opportunity for parents to stay at home and take care of their children, or have financial security knowing that any job would at least provide an income at double the Living Income rate.
In fact, a survey polling to find out how many mothers would want to stay at home ‘if money was not an object’, shows that 75% of new mothers would want to stay at home, 12% would not want to be a full-time mother and 13% did not know what they would do. Of those mother who did go back to work, just over half indicated that the reason for doing so was because money was tight, and 3% indicated that they had to go back because pregnancy had left them in serious debt.
With the implementation of a Living Income Guaranteed we can raise the conditions necessary to stimulate, enhance and foster our children’s development and utmost potential. By creating a financially stable environment, parents are able to tend to both a child’s physical and mental needs to ensure optimal growth and well-being. Financial worries put aside with a Living Income safety net, promotes peace of mind for parents which leads to better parent-child relationships and reducing the incidence of conflict at home .
By having this foundation in place, we set the stage for success in our children’s education and future careers.
For more information on what the Living Income Guaranteed entails, read the Living Income Guaranteed Proposal.
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