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Submitted by Gerald Kapp on
Good arguments Chen. I like to add the following thoughts: After decades of productivity increase beyond 3% per year and salary taxation (= punishing those who create the jobs instead of higher machine & energy taxes) in developed countries, e.g. some 3% of farmers are enough to produce all the food needed. This is the same for many sectors. Increasing export and consumption are both coming to obvious ends. Other low income countries take over the export and the ever increasing consumption meets environmental and saturation limits. In the productive sector the number of jobs is consequently decreasing, as new areas (e.g. energy saving technologies) cannot be found rapidly enough to offset the general trend. Excessive jobs in other sectors (administration, jurisdiction, and military) are becoming counter-productive (start paralyzing society) and in culture, education, research, health care, social work they are much needed but it is hard to channel the finance to it. In fact people do not need jobs; they need an income to actively participate in society life. In some European countries there are thoughts (coming partly from business people) to pay a basic income to all citizens and to raise taxes mainly from value added taxes (instead of salary taxation). This, beyond other effects, would make products from industrialized countries competitive, as labor is then cheaper (salary minus basic income) and there is no value added tax on exports.