ULT – Unified Location Tax. A combined land (LVT) and property tax, more heavily weighted towards taxing land. By taxing all land, but taxing only buildings that don’t meet particular criteria, it is engineered to rationally raise government revenue, democratize physical space, and spur types of development that is beneficial to the population, without the need for zoning regulations.
Three Pillars – A system that refers to the combined National Dividend, National Income Supplement,
and Assisted Savings Program. It returns tax revenues back to labour and capital; dramatically boosting
incomes, savings, and investment through direct cash transfers.
ND – The National Dividend, a monthly payment made to all adult citizen-residents of the country,
regardless of employment status. All recipients would receive the same amount. The amount would not
be fixed, as it would be divided from the pool of revenues collected from its mandated sources,
specifically those classified as the commons (aside from land).
NIS – The National Income Supplement, a monthly payment made to citizen-residents in the labour
force, including homemakers. Workers would receive this as part of their salary. Those earning the
average (mean) income or more would receive the full amount, as would homemakers with children.
Those earning less than the average income would receive a prorated amount relative to their income.
The amount would not be fixed, as it would be divided from the pool of revenues collected from its
mandated sources. The funds for the NIS would include the entirety of personal income tax revenues
and a portion of the VAT, to capture a portion of income gains across all income brackets. This would
ensure that each income bracket benefits from one another’s successes, as the ASP payment would
grow or shrink depending on the size of the revenue pool.
ASP – The Assisted Savings Program, a payment made into an [ASP] account for savings and
investments, which all adult citizen-residents would hold. The payment delivered to these accounts
would be based on how much an individual contributes, and would be divided from the pool of revenues
collected from its mandated sources, including all capital gains tax revenues.
Basic Essentials – The essentials for living, including food, water, housing, clothing, security, electricity,
and all the materials / components to produce them.
Static Sectors – Related to Basic Essentials, this refers economic sectors that maintain a floor on the
demand for their products, because their production is related to the essentials for survival.
Dynamic Sectors – This refers to economic sectors which change rapidly because they are on the cutting
edge, particularly in technology. These sectors typically produce internationally competitive high value
goods and services, but are likely to face disruptions in the face of rapidly changing market conditions.
Traditional Sectors – This refers to economic sectors which pertain to culture and tradition, particular
artisan and cottage industries.
Sectoral Banks – These are the 16 banks which would be represented and owned by different industry
sectors, with specific mandates to meet economic objectives, and which act as a mechanism to return
corporate tax revenues back to business.
SVAT – A Sustainable Value-Added- Tax; a VAT (tax on consumption – goods & services) with
sustainability objectives, in addition to being a main source of government revenue.
Progress Index – An index used to measure a country’s success beyond simple measures such as GDP.
Compensatism – A trade policy that is an alternative to both protectionism and free trade, which
instead compensates for unfairness in trade due to artificial market distortions, location of natural
resources, and the stranglehold of incumbents on a world market.
Sovereign Wealth Fund – A government investment fund to hold surplus fiscal revenues, modeled on
similar funds used by other countries.