In this article published in the Hufftington Post, Mike Sandler argues that if we change the way money enters the economy (it enters as debt owned to private banks), government of the United States will be able to create Citizen’s Dividend and reduce the number of bankruptcies. The author comes to this idea based on the Ned Act proposed by Dennis Kucinich to abolish Federal Reserve, fractional reserve banking, prohibit compound interest, and give 25% of money created to the states. According to him, this will help budget deficits and help government to save money to give to every citizen of the United States in the form of the Universal Citizen’s Dividend. Sandler argues that this new way of handling economy will allow government to have enough money to give to actual people who will spend it into circulation. This, in turn, will create demand, so that employers will start hiring people again.
Sandler, Mike “Citizen’s Dividends: Basic Income from your Share of the Commons,” Hufftington Post, October 3, 2012
https://www.huffingtonpost.com/mike-sandler/citizens-dividends-basic-_b_1936182.html?utm_hp_ref=business
