UBI is also known simply as basic income. According to the advocacy group Basic Income Earth Network (BIEN), the essential principle behind basic income is the idea that all citizens are entitled to a livable income, whether or not they contribute to production and despite the particular circumstances into which they are born.
BIEN lists the following five defining characteristics of basic income:
- Periodic: Distributed in regular payments,
- Cash payment: Distributed as funds rather than, for example, vouchers for goods or services.
- Individual: Each citizen (or adult citizen) receives the payment, rather than each household.
- Universal: All citizens receive the payment.
- Unconditional: Recipients are not required to demonstrate need or willingness to work.
Economic analysis of child benefit bolsters the case for national basic income
” The Canada Child Benefit offers a tax-free payment to eligible families with children under 18 years old, and according to UBI Works: “Over 1.2 million families are currently receiving an average of $680 per month which has already lifted 300,000 children out of poverty.” While the benefit has no strings attached, it could be disputed whether the Child Benefit can fully be considered a basic income given that applicants are assessed according to their income tax and benefit returns. “
Guest: Floyd marinescu
Floyd Marinescu is CEO and co-founder of C4Media which provides software development news and learning events serving 1.2M online on InfoQ.com, and 8000 attendees annually via QCon conferences in SF, NY, London, Beijing, Shanghai, and Sao Paulo. Floyd is an angel investor in over a dozen startups, and has built teams and businesses in the US, Canada, China, Brazil, Europe. Floyd is also a CEO activist for universal basic income.
120 Canadian CEOs Say UBI is Urgent
In Oct 2018 we organized the launch of the Canadian CEOs for Basic Income with a letter signed by over 120 Canadian CEOs with combined corporate incomes of over $2.3B CAD. The letter lays the economic arguments for basic income and asked Doug Ford to not cancel the Ontario Pilot. The founders and CEOs who understand the issues overwhelmingly support a basic income in Canada
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