I support the idea, but there are other things that have to go with it in order to really work and not end up like the broken economy that Argentina had to put up with when doing something similar.
It would need serious tax reform, changes to how business are treated locally and internationally.
One suggestion for tax reform is to apply taxes strictly on only sales tax, not income tax. Certain property taxes may still be effectful, but it's really a huge mess that will really function if not taken all together.
I suppose an analogy is when it comes to extreme programming, you can't just take what you like and get all the benefits--not that basic income specifies these other things, but I believe there is a bigger package that has to be considered.
I am not stating that it is _the_ solution, but here are some thoughts as to why it would help.
We spend billions just paying accountants to fool around wit millions of rules that most people do not understand. Sales tax is very simple. Rich people get out of paying taxes by doing inefficient things like tax shelters.
Now, the sales tax would need to be refunded for those in the basic income bracket, especially on food, housing, etc..
Remember that HN article about "We'll not incorporate in the US" by some Danish group? What needs to happen is to encourage businesses to run locally, and part of that is simplifying the entire structure to represent what the economy is closest to--consumption.
It would need serious tax reform, changes to how business are treated locally and internationally.
One suggestion for tax reform is to apply taxes strictly on only sales tax, not income tax. Certain property taxes may still be effectful, but it's really a huge mess that will really function if not taken all together.
I suppose an analogy is when it comes to extreme programming, you can't just take what you like and get all the benefits--not that basic income specifies these other things, but I believe there is a bigger package that has to be considered.