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I've seen people use UBI to mean "employment insurance" but that's misuse of the term. From wikipedia: "A Basic Income would vary with age, but there would be
by mazlix 8y ago
I've seen people use UBI to mean "employment insurance" but that's misuse of the term.
From wikipedia: "A Basic Income would vary with age, but there would be no other conditions: so everyone of the same age would receive the same Basic Income, whatever their gender, employment status, family structure, contribution to society, housing costs, or anything else."
So it's not a small amount of money to do nothing, but just an "extra" small amount of money coming out of either welfare budgets and/or additional taxes.
- int_19h 8y agoIt's effectively the same, because most people will be paying more taxes than they'll receive in their UBI check. So only a relatively small part of the population would actually receive money, with the rest effectively subsidizing them. The main advantage over doing explicit means-testing is that this all is much simpler to maintain - you just need to adjust the amount and the tax until you end up with the cut-off (the point at which people are paying more into the system than they are receiving) is where you want it to be. It can even be dynamic, depending on how well the economy is doing.