Governments could pay for Universal Basic Income (UBI) through various means, such as:
- Redistributing existing social welfare funds
- Implementing a progressive tax system
- Increasing taxes on wealth, income, or consumption
- Creating a sovereign wealth fund
- Implementing a carbon tax or other environmental levies
- Printing new money (though this could lead to inflation)
Some experts also suggest that UBI could be funded by a combination of these methods, or by implementing new economic models, such as a resource-based economy.
It's a complex and debated topic, with different proposals and experiments being explored around the world.
Would you like to know more about the potential funding models for UBI, or how it might interact with cryptocurrency and blockchain-based systems like INLEO?
What is the concept of universal basic asset?
Explain the concepts of wealth versus income
What is the difference between wealth and income?
Can you compare universal basic income to universal basic assets, listing the pros and cons of each?