I think guaranteed minimum income creates worse incentives, everyone making under the limit would be persuaded to work less or work under the table. With basic income the incentive to make more still exists at all levels of income.
I can see that. I was thinking that some hybrid would be interesting since I am just not sure a basic income would actually be affordable. Something like everyone is guaranteed X and anyone working for Y subtracts Y/F from X where F is some factor (2 or 3 maybe). I get the feeling the "When the people find they can vote themselves money, that will herald the end of the republic."[1] might manifest. I do wonder[2] if something radical like takers of basic income cannot vote or serve jury duty might push people to work.
1) Benjamin Franklin
2) not advocating - this part violates some of my basic beliefs
As stated in the Wikipedia link, there is a very clear difference between basic income and guaranteed minimum income. Basic income is a supplement that is not reduced by any work income earned. A guaranteed minimum income promises a supplemental grant for only the difference between other income and the guarantee level.
Comments
Do you see a Guaranteed minimum income as a viable alternative? Do you consider basic income and guaranteed minimum income the same thing?
I think guaranteed minimum income creates worse incentives, everyone making under the limit would be persuaded to work less or work under the table. With basic income the incentive to make more still exists at all levels of income.
I can see that. I was thinking that some hybrid would be interesting since I am just not sure a basic income would actually be affordable. Something like everyone is guaranteed X and anyone working for Y subtracts Y/F from X where F is some factor (2 or 3 maybe). I get the feeling the "When the people find they can vote themselves money, that will herald the end of the republic."[1] might manifest. I do wonder[2] if something radical like takers of basic income cannot vote or serve jury duty might push people to work.
1) Benjamin Franklin
2) not advocating - this part violates some of my basic beliefs
As stated in the Wikipedia link, there is a very clear difference between basic income and guaranteed minimum income. Basic income is a supplement that is not reduced by any work income earned. A guaranteed minimum income promises a supplemental grant for only the difference between other income and the guarantee level.
Looks like I deleted the word "effectively" in front of "same thing". I wonder how much the difference matters.