How is Basic Income different?

  1. There are two radically different models of basic income usually referred to as universal basic income (UBI) and basic income guarantee (BIG or NIT).
    • UBI: UNIVERSAL DISTRIBUTION: Everyone gets the $$, but it’s taxed   back from those not in need
    • BIG:  UNIVERSAL ACCESS. Everyone is eligible for the $$ but only get it if/when needed.
  2. The start-up cost of UBI is huge; the start up cost of BIG is completely manageable (estimated $30-60b)
    • BUT HEADS UP! UBI costs are often cited to mislead people about the feasibility of BIG.
  3. BIG itself has two competing models: austerity/progressive.
    • AUSTERITY proponents argue for a BIG that rolls  ALL social assistance   supports into a single payment,  ‘in kind’ assistance to be bought on the      market.
    • PROGRESSIVE proponents argue for a basic income to replace  welfare and disability benefits and maybe some other cash transfers only, ‘in kind’ assistance to be maintained.
    • BUT HEADS UP! The austerity version will leave people considerably worse off.

 

 

 

 

 

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