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An unconditional basic income (also called basic income, basic income guarantee, universal basic income, universal demogrant, or citizen’s income) is a proposed system of social security in which all citizens or residents of a country regularly receive an unconditional sum of money, either from a government or some other public institution, in addition to any income received from elsewhere.
A basic income is typically intended to be only enough for a person to survive on, so as to encourage people to engage in economic activity. A basic income of any amount less than the social minimum is sometimes referred to as a 'partial basic income'.
Affordability of a basic income proposal is a function of the social/government services it replaces, any tax increases, and the less tangible positive effects on spending and tax receipts associated with wealth redistribution towards the poor, and any social savings as a result of less crime, or fewer incarcerable offenses.
Measurements were made by Pascal J. for Canada. A 2004 taxable basic income benefit of $7800 per adult could be afforded without any tax increases by replacing welfare, unemployment, and core Old age services. This would be $20,000 for a family of four.
An analysis by USA Today shows that living the American dream would cost the average family of four about $130,000 a year. Only 16 million U.S. households — around 1 in 8 — earned that much in 2013, according to the U.S. Census Bureau.
There is a gap of about 6.5 times to make an American Dream lifestyle affordable via basic income and services.
Read more »
Reposted via Next Big Future
An unconditional basic income (also called basic income, basic income guarantee, universal basic income, universal demogrant, or citizen’s income) is a proposed system of social security in which all citizens or residents of a country regularly receive an unconditional sum of money, either from a government or some other public institution, in addition to any income received from elsewhere.
A basic income is typically intended to be only enough for a person to survive on, so as to encourage people to engage in economic activity. A basic income of any amount less than the social minimum is sometimes referred to as a 'partial basic income'.
Affordability of a basic income proposal is a function of the social/government services it replaces, any tax increases, and the less tangible positive effects on spending and tax receipts associated with wealth redistribution towards the poor, and any social savings as a result of less crime, or fewer incarcerable offenses.
Measurements were made by Pascal J. for Canada. A 2004 taxable basic income benefit of $7800 per adult could be afforded without any tax increases by replacing welfare, unemployment, and core Old age services. This would be $20,000 for a family of four.
An analysis by USA Today shows that living the American dream would cost the average family of four about $130,000 a year. Only 16 million U.S. households — around 1 in 8 — earned that much in 2013, according to the U.S. Census Bureau.
There is a gap of about 6.5 times to make an American Dream lifestyle affordable via basic income and services.
Read more »
Reposted via Next Big Future
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