Implementation

insights

Using conservative estimates, LVT could raise enough funding to cover the entirety of either Defense spending, Social Security, or Medicare + Medicaid (roughly $1.1 trillion per year). More optimistic estimates suggest LVT revenues could reach $3.36 trillion per year, nearly enough to cover the entire federal budget. A universal earned income tax credit (refundable up to the first $10,000 on income) would cost roughly $1.3 trillion per year. Primary income-support welfare programs that could be consolidated into a single basic income include: earned income tax credit (EITC), Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps), temporary assistance for needy families (TANF), and supplemental security income (SSI). A $500 per month UBI would more than compensate for the loss of SNAP and/or EITC benefits. Relative to annual payments, more frequent, periodic payments of the EITC indicates that periodic payments reduce perceived financial stress, diminish debt accumulation and late fees, and improve mental health. 55% of registered voters support universal basic income, while 45% are opposed.

sources

Voice at Work Codetermination and the Democratic State What Does Codetermination Do? Jain Family Institute Position on Guaranteed Income Guaranteed Income: SSI and the Well-Being of the Elderly Poor Guaranteed Income for the 21st Century

authors

Benjamin Schoefer Simon Jäger Jarkko Harju Horst Eudenmueller Jens Dammann Shakkad Noy Kathleen McGarry Kelly Capatosto

reports

Codetermination Basic Income Social Wealth Fund Land Value Tax