Posts Tagged ‘matt bruenig’

Matt Bruenig: Universal 1% Income

Posted by admin on Wednesday, January 11, 2017

Matt Bruenig Money Quote saying Universal Basic Income (UBI) for the wealthy already exists, called Capital income as equity income and rents. Matt Bruenig said:
 
1 in 10 dollars of income produced in this country is paid out to the richest 1% without them having to work for it Quote
 

“1 in 10 dollars of income produced in this country is paid out to the richest 1% without them having to work for it” — Matt Bruenig

 

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In this quote, Matt Bruenig is pointing out that a significant share of national income in the United States is received by the wealthiest 1% of the population without them having to be employed or directly work for those earnings.

Specifically, he notes that 1 in every 10 dollars of total income generated is paid to the richest 1% through means other than wages or salaries, such as capital gains, dividends, interest, rents, and other investment returns.

The quote suggests Bruenig views this as problematic, implying such a large portion of economic output going to the top earners without labor on their part disproportionately benefits a small minority.

Overall, Bruenig appears to be critiquing the concentration of national wealth among a small sliver of people through passive income from asset ownership.

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