Financing Basic Income: A Dual Income Proposal (Exploring the Basic Income Guarantee)

✍ Scribed by Richard Pereira (editor)

• Publisher: Palgrave Macmillan
• Year: 2023
• Tongue: English
• Leaves: 180
• Edition: 2
• Category: Library

✦ Synopsis

This Palgrave Pivot second edition argues that basic income is, in fact, affordable. The contributors approach the topic from the perspectives of three different countries―Canada, Switzerland, and Australia―to overcome objections that a universal program to keep all citizens above the poverty line would be too expensive to implement. They assess the complex array of revenue sources that can make universal basic income feasible, from the underestimated value of public program redundancies to new and so far, unaccounted publicly owned assets.

This new edition adds an analysis for financing basic income in the United States, as well as considering the basic income potential in a country of far more modest economic resources, Portugal. The COVID-19 pandemic is discussed in a new Prologue, demonstrating the need for universal economic security as a precautionary measure for unforeseen crises.  New research and compelling analyses are included throughout, to provide support for a dual basic income proposal.

✦ Table of Contents

Preface
Acknowledgements
Prologue to the Second Edition
COVID-19: Crisis as (Lost) Opportunity
Building upon a foundation
Contents
Abbreviations and Acronyms
Variations of Basic Income and Guaranteed Income
List of Figures
List of Tables
1 Introduction: Financing Approaches to Basic Income
Basic Income Models
Financing Approaches
Part I Foundations for a Basic Income Guarantee (BIG)
2 The Cost of Universal Basic Income: Public Savings and Programme Redundancy Exceed Cost
Introduction
The Argument: “It Is too Expensive to Give the Entire Population Basic Income”
A Common Theme in the Literature
A Country-Specific Illustration of the Cost Objection
Four Responses: Savings and Other Income Sources
First Response: Savings from Replacement of Existing Income Security Programmes
Conclusion: Programme Savings and Redundancy Are Vastly Underestimated
Second Response: Inefficiencies and Leakages in the Existing Tax System—No New Taxes!
Third Response: Freedom from Bureaucracy
Fourth Response: Externalities and Current Free-Riding
Conclusion
Appendix—Missed Savings and Redundancies in the UBI Cost Objection: A Summary
References
3 Unconditional Basic Income in Portugal: How Can We Afford It?
Definitions
Introduction
How We Can Afford It. How Can We Not?
Case Studies and Surplus Financing
Further Research: Completing the UBI Project for Portugal
References
Part II Cost Feasibility of Basic Income in Europe
4 Financing Basic Income in Switzerland, and an Overview of the 2016 Referendum Debates
Part I: The Gross Cost
Part II: The Clearing System
Clearing Payments and Scale
Part III: How to Cover the Gap
Value Added Tax
Other Indirect Taxes—Energy Taxation
Direct Taxes
Part IV: The Models in Discussion
Bernhard Kündig
Häni and Schmidt
Müller and Straub
Müller and Straub II, Analysis of Potential
Others
In Comparison: A Schematic Proposal
Part V: The Opponents
Economiesuisse
The “Message” of the Federal Council
Conclusion
References
Part III Building Up BIG
5 Total Economic Rents in Australia as a Source for Basic Income
Land Rent
Resource Rents
Electromagnetic (EM) Spectrum
Corporate Commons
Water
Public Utility Privatization
Airports
Taxi Licenses
Fishing Licenses and Quotas
Forestry
Gambling
Privatized Public Transport Providers
Cybersquatting of Internet Domain Names
Patents
Satellite Orbits
Internet Infrastructure
Banking Licenses
Carbon Taxes
Summary
References
6 Universal Basic Income and Land Value: A Canadian Assessment, with Implications for America
Introduction
Updating Canadian Land Value and Land Rents in 2020
The Cost (Gross) of UBI Versus Guaranteed Livable Income
Other Sources of Economic Rent, Royalties and Common Wealth
Conclusion
References
7 Conclusion
Five Key Policy Lessons from This Study
References
Appendix 1
Switzerland’s Basic Income Referendum Results
Appendix 2
Marginal Personal Income Tax Rates: American Precedents, Veils of Ignorance
Marginal Income Tax Rate for the Highest Income Bracket—United States
Reference
Appendix 3
The Original Financing Plan for Guaranteed Annual Income (GAI) or BIG
Reference
Appendix 4
Resource Rents, Supplementing Basic Income with a Universal Dividend: Petro-Canada and Norway’s Statoil
References
Index