Basic Income Guarantee

Basic Income Guarantee

The basic income guarantee (BIG) is a government insured guarantee that no citizen's income will fall below some minimal level for any reason. All citizens would receive a BIG without means test or work requirement. BIG is an efficient and effective solution to poverty that preserves individual autonomy and work incentives while simplifying government social policy. Some researchers estimate that a small BIG, sufficient to cut the poverty rate in half could be financed without an increase in taxes by redirecting funds from spending programs and tax deductions aimed at maintaining incomes.

3 Reasons Why Good Socialism Defeats Bad Capitalism

Karl Marx

Although the electorate is sending clear signals regarding what it wants in growth-redistribution balance, delivering it is compounded by both President Obama’s acumen in picking up the redistributionist impulse but in failing to deliver upon it – a scenario that will now take the rest of his term to unwind – and the intellectual bankruptcy of Republicans who mask their lack of agenda with Obamacare-hate.

The Universal Basic Income's Past and Future in Brief

The Universal Basic Income's Past and Future in Brief

In 1967, Martin Luther King, Jr. wrote, "I am now convinced that the simplest approach will prove to be the most effective - the solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income." He was right. It is obvious that the simplest solution to poverty is a direct, unconditional, universal basic income paid out equally to all citizens. Such a payment prevents any given citizen's income from falling below that point. And it was widely discussed at the time. But this was not the first time that it had been so publicly popular.

A More Ideal Arrangement: An Immediate Guaranteed End to Poverty

basic income ends poverty

Usually, I prefer to talk about the Universal Basic Income as it exists a single, practical step from where we are today. Merely changing the method by which we pay out what we already pay out for means tested welfare is a practical way to improve the lives of the American people and our economy. But it is not the ideal way to organize a Universal Basic Income.

The Growing Need for a Universal Basic Income

The Growing Need for a Universal Basic Income

Labor force participation rates, which are the percentage of people in a given country who have any job at all, have been declining since around 2001. So have median incomes. Mean incomes, on the other hand, have increased. This means that while the average person is less likely to work, and likely to earn less money if they do, the total amount of money being earned per person has increased because of gains in income at the top.

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