If you're a supporter of the basic income, you can implement it right now, in just two easy steps.
* Put $20,000 in a broad based U.S. mutual fund, such as the Vanguard VTSAX fund.
* Direct your brokerage to sell off $800/year and send it to GiveDirectly.org.
And you're done! You've created a long-term, completely funded, basic income for one of the poorest families in the world.
As a rule of thumb, you can withdraw 4% (about $800) per year from such a broad based U.S. fund without affecting the principal. So this fund should be able to spin-off $800/year indefinitely.
* Put $20,000 in a broad based U.S. mutual fund, such as the Vanguard VTSAX fund.
* Direct your brokerage to sell off $800/year and send it to GiveDirectly.org.
And you're done! You've created a long-term, completely funded, basic income for one of the poorest families in the world.
As a rule of thumb, you can withdraw 4% (about $800) per year from such a broad based U.S. fund without affecting the principal. So this fund should be able to spin-off $800/year indefinitely.