3 Islamic articles on: islamic basic income

A Short Introduction to Usury: How to Make the Rich Richer, the Poor Poorer and Destroy the Middle Class

Download links: PDFePubMobi (Kindle)

In this short ebook I discuss the history of usury, how it works, its effects on society and how the system can be reformed. An important part of the discussion is how today automation leads to wealth inequality and wage slavery, and how through using a usury-free system and a wealth and speculation tax automation can be turned into an investment that all of society benefits from.

I discuss how through avoiding usury and following a wealth tax inspired by Islam’s zakat basic income system communities can bypass the banks and corporations and revitalize their local economies. This is something that can be done by anyone right now, without reference to the government.

IslamQA: The point of the Islamic acts of worship

A question received on tumblr:

What are the importances of acts of worship Prayer, zakat and fasting etc

At the most basic level these acts reaffirm God’s important in our lives. We Muslims cannot ignore God, saying “we have faith” and then go for days without thinking about God. The prayers interrupt our lives five times a day. Fasting interrupts a whole month of the year.

As for zakat, it provides basic income to the poor. If the people of the United States paid zakat, it could amount to $100 to $500 billion dollars a year, meaning that within a few years there wouldn’t be a single homeless or poor person in the country, and every poor person (belonging to the bottom 50% of society) would get a monthly income of $1000 or more from zakat.

As far as I know no Muslim country properly applies the zakat system, which is why there is so much widespread poverty in countries like Egypt. Zakat has to be taken, it is not a voluntary act. Most rich people are not generous and would rather not pay 2.5% of their uninvested wealth to the poor every year, they would rather do as the Jews and Christians of America do, lending their wealth to the poor and charging them 5% or more interest.

In the zakat system, the poor charge interest on rich people’s uninvested wealth, the money they hoard in their bank accounts. In America’s usurious system, the rich charge interest on the poor, to the tune of more than a trillion dollars per year. American taxpayers paid upwards of $200 billion on money borrowed from usurers to pay for government expenditures, which is why the rich and powerful of America constantly want to increase the size of the military and to instigate new wars, such as with Iran and Russia. War requires spending, and the money for it has to be borrowed from the rich, and the interest on that money has to be paid by the average taxpayer.

For the rich, war always means money. Islam breaks this cycle of evil and destruction by prohibiting usury (all charging of interest) and enforcing zakat.

As for other acts of worship, they all have some wisdom if you look into them.