SPARTANBURG, S.C., April 14, 2016 /PRNewswire-USNewswire/ -- "Trickle Up" Economics is the name for the grassroots plan for reshaping the nation's (and the world's) economic outlook from Jack B. Robinson, Jr., a presidential candidate running on the Libertarian ticket.
"As a businessman, I embrace capitalism and free enterprise, but acknowledge that too many have been left behind," says Robinson. "The economic system I envision can end poverty, provide universal healthcare and ensure all Americans have the same opportunity to prosper – and all of this with a leaner government and zero deficit. I want to also say thanks to fellow Libertarian candidates Rhett Smith and Pastor Shawna Sterling for both endorsing this economic model. "
Robinson's bold proposal includes a collection of long-term programs known as "Birth Loop" economics. The programs kick into action at birth, hence the name. Once the Birth Loop programs are up and running, the country should experience a broad economic expansion, an end to systemic poverty, and a reversal of the national debt. Because the programs lean on private institutions rather than public tax dollars, they are ultimately zero-cost, self-funding and self-perpetuating.
The Birth Loop program begins with the government depositing $67,000 into a secure bank account under the name of each newborn child. The money is a loan, but the bank can use the funds however they wish in the meantime. Assuming a steady, modest interest rate of 3%, the bank will pay $2000 into the accounts every year. When account holders turn 25, they receive the $50,000 of accrued interest, and the bank repays the loan in full. The government then immediately "reinvests" those funds in another Birth Loop account.
A companion program to the Birth Loop is the Birth Loop + 25. At age 25, Americans are entitled to a zero-interest loan of $25,000 to be used however they desire. Citizens who grew up with a Birth Loop account could therefore get a $75,000 head start in life. The generous repayment plan of $83/month over 25 years means no one should have difficulty paying back the +25 loan funds.
To remedy the ailing healthcare system and gradually phase out Obamacare, Robinson has proposed the Birth Loop + Healthcare program, which would operate much like the Birth Loop program. In this case, interest would be spent on buying an insurance policy for the account holder. The government, meanwhile, could gently nudge the banks to invest more heavily in healthcare infrastructure, research and education.
Birth Loop + International Aid will allow America's economic renaissance to spread worldwide in the form of favorable loans to impoverished nations. Lifting these nations out of desperate situations is a win-win: their citizens will enjoy better health and increased wealth, while the U.S. and other developed nations will no longer perceive international aid as a bottomless pit into which money is tossed.
Robinson has challenged South Carolina Governor Nikki Haley, The New York Times Editorial Board and all the front-running presidential candidates to show the flaws in Trickle Up economics – but none have answered the call.
About Jack B. Robinson, Jr.
A Libertarian candidate for U.S. president, Jack B. Robinson, Jr. has introduced a new grassroots economic model powerful enough to end poverty and provide universal healthcare for all Americans. The nation can again become a beacon of hope as its citizens work together to transform the globe with these new anti-poverty and universal healthcare proposals.
Jack B. Robinson, Jr.
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SOURCE Jack B. Robinson, Jr.