On the subject of Basic Income. I think most people are missing some very important points by concentrating so hard on the costs, that is, the money provided to the recipients of the Basic Income.
- Poor people spend pretty much everything they get and they do so locally, so a very large proportion of the BI will be immediately spent in the local economy thus increasing the opportunities for people to provide goods and services.
- Having an income that will prevent you starving to death or having your house or car repossessed means that you have the opportunity to turn down a poorly paid or dangerous job. This will go some way to rectifying the imbalance of power between employees and employers and drive up wages at the bottom end
- BI is not charity and is generally not intended to be means tested; every citizen gets it rich and poor alike. It is income and taxable in the normal way.
- Poor people spend pretty much everything they get and they do so locally, so a very large proportion of the BI will be immediately spent in the local economy thus increasing the opportunities for people to provide goods and services.
- Having an income that will prevent you starving to death or having your house or car repossessed means that you have the opportunity to turn down a poorly paid or dangerous job. This will go some way to rectifying the imbalance of power between employees and employers and drive up wages at the bottom end
- BI is not charity and is generally not intended to be means tested; every citizen gets it rich and poor alike. It is income and taxable in the normal way.