Arguments For Basic Income
naturalfinance.net describes several benefits from basic income:
- The benefits of technology and automation make work less necessary, and are only possible if people can afford the outputs of technology and automation.
- wealth redistribution is the best possible economic development program because the wealthy don't spend as great a portion of their income as the poor do.
- wealth redistribution does not harm the wealthy, because all money is spent until it ends up with a saver. So, taxes paid eventually return to the tax payer.
- basic income is the most efficient possible form of wealth redistribution because there is no bureaucratic overhead needed to filter recipients, or find and punish abusers.
- basic income as an alternative to public retirement pensions (such as social security in the US) is the only possible prevention of generational theft that will occur if the funding sustainability of future retiree pensions and care is threatened
- Reduced crime as a result of lower levels of desperation. If loss of income is a consequence of crime, it may in turn create more crime.
- Balanced power in the labour market as a result of not needing work out of desperation, and better competitive position of workers if some people choose not to work.
- Better work opportunities as a result of people better able to afford an education or business start up.
- Smaller government made possible and attractive by the alternative of increased basic income to offset any program cost reduction. Viewed this way, the cost of every government program is paid for equally by each citizen, even if the source of government revenue is progressive income taxation.
- Social justice is achieved efficiently and automatically, with less requirement on charity and welfare.
- It's easier for volunteer home owners to help the poor and secluded through group homes by being able to rely on their certain income. Its possible and easier for the disadvantaged to group up and help themselves in the same manner.
- Natural finance's definition of social dividends (variable basic income: tax revenue surplus over social program expenses) essentially allows the level of basic income paid to citizens to rise with economic, productivity, and automation growth. The affordability of basic income adjusts automatically to the performance of the economy.
Read more about this topic: Basic Income
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