A UBI should never be allowed to reduce, one iota, the will to get out of bed and work or do something useful.
If UBI is to compensate for poverty derived from the lack of opportunities to work, then it could be hellish.
If UBI is to enable more to take any opportunities to work or to be otherwise productively engaged, then it could be God-sent.
That is why I am not in favor of using a negative income tax model to provide a basic income guarantee. With such a scheme, if as an example the basic annual income was set at $18.000 then if someone earns $13.000 from working, a basic income would kick in with $5.000 spread out in equal payments over 12 months. De facto it means that if you stay in bed you can receive $18.000 annually. De facto it means that for the first $13.000 earned you have actually paid yourself.
It is better to pay for instance only $12.000 annual UBI independent of work, so that there is a stimulus to step out of bed in pursuit of any additional $ of income.
How much UBI should be paid to those in working age 16 - retirement? My rule of the thumb, 70% of what one could earn in the current least full-time paying job.
PS. Children, the sick, and the pensioners should have their needs tendered to separately from UBI.
It is better to pay for instance only $12.000 annual UBI independent of work, so that there is a stimulus to step out of bed in pursuit of any additional $ of income.
How much UBI should be paid to those in working age 16 - retirement? My rule of the thumb, 70% of what one could earn in the current least full-time paying job.
PS. Children, the sick, and the pensioners should have their needs tendered to separately from UBI.
