Hedge Fund Manager Bill Ackman Endorses “Birthright” UBI Scheme

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“A poten­tial solu­tion to the wealth inequal­i­ty prob­lem is to cre­ate a way for those with no invest­ment assets to par­tic­i­pate in the suc­cess of cap­i­tal­ism,” Mr Ack­man wrote in the New York Times.“To do so, we need a pro­gram that makes every Amer­i­can an own­er of the com­pound growth in val­ue of cor­po­rate Amer­i­ca. “The gov­ern­ment could fund invest­ment accounts for every child born in Amer­i­ca, a pro­gramme we could call Birthright.”The funds would be invest­ed in zero-cost equi­ty funds and peo­ple would not be allowed to with­draw it until they retired or turned 65.At his­tor­i­cal rates of return on equi­ty of 8 per cent a year, a $6,750 grant at birth would be worth more than $1 mil­lion at the age of 65. And that fig­ure could be worth $2 million …

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