The state distributes a yearly (I believe) amount to each adult living there paid for from revenue from oil. If we were looking at instituting a nationwide version, the funding mechanism would likely be some form of tax. Basic income has the extra benefit of that it can help consolidate other parts of the security net, which can help keep the costs of administration down significantly, meaning that the tax might not need to be as high as you would otherwise expect.

social insurance (federal) transfer payments--including Social Security, etc.

Frankly, I'm very leery of the concept; but, there are different versions. So, I'm open to looking at them, I suppose. The concept has mostly been conceived by libertarian economists, and from what I've garnered thus far, it is really most harmful to those who need the help the most.

Again, most --there is some variation-of the plans will completely dissolve all the social welfare programs (SNAP, Title VIII Housing Vouchers, etc.), and the safety net social insurance programs (Social Security, Medicare, etc.). That's 'why' libertarians are increasingly buying into the concept.

You know the saying, 'if it sounds too good to be true, . . . ."

Hope you're having a nice weekend.

Mollie

In Tribute To 'Barabas'
Please Visit Save Our Street Dogs [SOSD]

Enjoy.

This link to USBIG links to many other working groups, as well, and explains Universal Income in an overview format.

Universal Income or National Income (there are many names) is a movement that has strong proponents on both the left and the right. Just about all macroeconomists and most non-ivy-league economists acknowledge its soundness. (The Ivy League schooled economists are programmed predators.)

Here's my Two-Part Summary of the US-style Basic Income chewtoy:

1. The nation ends all forms of welfare funding, which permeates every department of the Federal government. This includes certain tax breaks and deductions, food stamps, school lunches, subsidies of every flavor, welfare and children's welfare, and Social Security. It may include some veteran benefits. But, it does NOT include any government spending related to health care, including Medicare.

2. The money not spent on all social safety-net programs, along with the the massive amounts spent to manage these hundreds of programs, is pooled together and becomes a large part of the funding of a National Income. It amounts to well over a third of all Federal spending. Every citizen (men, women, and children) in the US — whether they are wealthy or poor, whether they work or not — will receive a monthly check that is guaranteed to cover the cost of the basic necessities of sustainable living. Taxes will go up across the board, but Social Security taxes will go away. Plus, all citizens will have an extra $15 to $20 thousand in their pockets each year, for life. At current tax rates, the Treasury will end up with a surplus to spend or to curb the debt, or the budget could be reduced substantially. (If the US ever ends its war on the world, the US could actually build a comprehensive rail transportation system for the nation, cutting fossil fuel use off at the knees.

That's it.

In the same way that health care is a Human Right, globally (except in the US, of course), a basic income is also becoming a global Human Right. In any event, with robotics and technological productivity, jobs will become fewer and fewer. Not every one needs to work like a slave in the 21st century. People can work for a day or two and support a family. Or not work at all. Or innovate and work and buy an airplane and lots of groovy clothes and blow and fancy friends. Or work hard and actually improve the lives of the next generation even more. It's their choice.

Here's a view of the global movement:

Global Basic Income