Basic income (BI) is getting a lot of press these days. From Switzerland’s upcoming referendum to give each citizen 2,500 francs per month, to GiveDirectly’s research upending the philanthropy world, to Finland’s plan for a 2017 BI pilot, more are warming to the idea that just giving people money may be the solution to poverty.
A basic income is an income unconditionally granted to all on an individual basis, without means test or work requirement.
Basic Income Earth NetworkMany dismiss basic income as unaffordable. The reality is that basic income is only a form of redistribution, independent of the amount to be redistributed. It is therefore equally affordable to any existing social safety net. Specifically, budgets for existing programs can fund BI via these revenue-neutral steps: