@Groth said in Universal Basic Income:
It would also be in addition to SS, not instead of SS, it also tends to assume that rent and healthcare is covered separately.
The models I've looked at eliminate SS and other paid-to-consumer welfare systems in favor of a Basic Income Guarantee ("BIG").
My understanding is that it is intended to be supplemental, such that folks who are making some income will receive less than those who are making none. It is also my understanding that the BIG models do not factor in dependents, or that, if it does, it does not guarantee their income in full. Further, the BIG has to be implemented along with a public, single-payer healthcare system that covers catastrophic loss, similar to what Medicare/Medicaid does.
Many opponents to a BIG, like a raise in the minimum wage, do not consider the increase in aggregate demand that would be created as a result. This would encourage domestic suppliers to increase production, and while many things can be outsourced, some cannot, such as financial, legal, and food services.
Consider what federal subsidies could be cut in response: SNAP (food stamps), agricultural subsidies, Section 8, etc. Consider the reduction in federal risk programs: Freddie Mac, Fannie Mae, etc. Consider alternative funding sources: a federal sales tax; a federal luxury tax; a federal tax on financial-market trades; a federal tax on land-transfers; etc. You could also consider removing federal tax credit programs.
The biggest problem will be selling the entire program to the electorate, who are already worked so hard that they cannot do basic economic research.