I have a moderately strong opinion. I used to be very pro full minimum wage UBI until I calculated how much it actually costs and realised that it’s more than the entire budget of my country.
I feel like there’s a lot of benefit in a BUI system though, a $500 a month UBI is a substantial difference for people, prevents starvation and so on. It should be done in increments.
Currently the everyone in Iceland gets a tax break of around $400 on the first income they make, this amount should be directly deposited to everyone instead as a start and have it renamed as “Basic assistance” or something.
Then since you already have a payout scheme you add in all other benefits that essentially modify the amount such as disabilities, unemployment, maternity, child support payments, retirement and so on.
Having a unified payment scheme and just checking if people are eligible for benefits is less beaurocracy than having each institution handle payments each month.
I have a moderately strong opinion. I used to be very pro full minimum wage UBI until I calculated how much it actually costs and realised that it’s more than the entire budget of my country.
I feel like there’s a lot of benefit in a BUI system though, a $500 a month UBI is a substantial difference for people, prevents starvation and so on. It should be done in increments.
Currently the everyone in Iceland gets a tax break of around $400 on the first income they make, this amount should be directly deposited to everyone instead as a start and have it renamed as “Basic assistance” or something.
Then since you already have a payout scheme you add in all other benefits that essentially modify the amount such as disabilities, unemployment, maternity, child support payments, retirement and so on.
Having a unified payment scheme and just checking if people are eligible for benefits is less beaurocracy than having each institution handle payments each month.