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BIG IDEA:
Universal Basic Income
What is Universal Basic Income?
• A fixed, monthly cash grant
• Given directly to all adult citizens individually
• To cover basic living expenses
• With no strings attached
Why Universal Basic Income?
• Eliminate poverty and reduce inequality, with dignity
and security for all
• Save capitalism, as technology substitutes for human
labor and reduces wage income/purchasing power
• Encourage entrepreneurship, life-long learning,
creative and caring work, and civic engagement
Common Objections
We WON’T
• Fringe idea
• No political support
• Too many vested
interests
We SHOULDN’T
• People are lazy and
won’t work
• Will be spent on
alcohol and drugs
• Something for
nothing
• Breeds dependency
We CAN’T
• Will cost too much
• Inflationary
• Geographic cost
differences
• People won’t do
unattractive but
necessary jobs
UBI Results?
• MOREWORK and MORE ENTREPRENEURSHIP
• MORE SAVINGS, LESS DEBT
• BETTER HEALTH and EDUCATION outcomes
• LESS CRIME and REDUCED RECIDIVISM
• NO INCREASES in ALCOHOL, DRUG orTOBACCO USE
How CanWe Afford UBI?
• Existing bureaucratic welfare program spending
• Consumption taxes (VAT)
• Financial transaction taxes
• Tax expenditures (subsidies, deductions)
• Carbon taxes
• Patent fees
• Income and property taxes
• Savings from reduced governmental costs (health, crime)
Support for UBI?
• Frances Coppola
• Barbara Ehrenreich
• Milton Friedman
• Friedrich Hayek
• Martin Luther King Jr.
• Charles Murray
• Richard Nixon
• Thomas Paine
• Robert Reich
• Joseph Stiglitz
Political Logic
• Right
– Eliminates 300+ government programs and the nanny-state
– Puts focus on individual responsibility
– Preserves market based virtuous cycle of consumption and production
• Left
– Eliminates poverty
– Eliminates holes in the safety net
– Enhances individual bargaining power
• Libertarian
– IF some distribution is needed, maximizes individual freedom for the recipient
How to Make UBI Happen?
Think Big
Start Small
Move Fast

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Universal basic income

  • 2. What is Universal Basic Income? • A fixed, monthly cash grant • Given directly to all adult citizens individually • To cover basic living expenses • With no strings attached
  • 3. Why Universal Basic Income? • Eliminate poverty and reduce inequality, with dignity and security for all • Save capitalism, as technology substitutes for human labor and reduces wage income/purchasing power • Encourage entrepreneurship, life-long learning, creative and caring work, and civic engagement
  • 4. Common Objections We WON’T • Fringe idea • No political support • Too many vested interests We SHOULDN’T • People are lazy and won’t work • Will be spent on alcohol and drugs • Something for nothing • Breeds dependency We CAN’T • Will cost too much • Inflationary • Geographic cost differences • People won’t do unattractive but necessary jobs
  • 5. UBI Results? • MOREWORK and MORE ENTREPRENEURSHIP • MORE SAVINGS, LESS DEBT • BETTER HEALTH and EDUCATION outcomes • LESS CRIME and REDUCED RECIDIVISM • NO INCREASES in ALCOHOL, DRUG orTOBACCO USE
  • 6. How CanWe Afford UBI? • Existing bureaucratic welfare program spending • Consumption taxes (VAT) • Financial transaction taxes • Tax expenditures (subsidies, deductions) • Carbon taxes • Patent fees • Income and property taxes • Savings from reduced governmental costs (health, crime)
  • 7. Support for UBI? • Frances Coppola • Barbara Ehrenreich • Milton Friedman • Friedrich Hayek • Martin Luther King Jr. • Charles Murray • Richard Nixon • Thomas Paine • Robert Reich • Joseph Stiglitz
  • 8. Political Logic • Right – Eliminates 300+ government programs and the nanny-state – Puts focus on individual responsibility – Preserves market based virtuous cycle of consumption and production • Left – Eliminates poverty – Eliminates holes in the safety net – Enhances individual bargaining power • Libertarian – IF some distribution is needed, maximizes individual freedom for the recipient
  • 9. How to Make UBI Happen? Think Big Start Small Move Fast