rationalskepticism.org

Imagine the government started handing out $10,000 annually to every adult in the country, or implemented a negative income tax rate so that low earners and people out of work would receive tax money instead of paying it. One key is that the nation must be willing ( like Australia ) to tax it's corporations at a rate to support it .....as corporate income goes up so does the incomes of the entire nation if configured correctly.

Sounds like the ultimate socialist scheme, doesn’t it? Exactly the sort of thing the business community and conservative economists would label a job-killing farce destined to create a nation of lazy, uncompetitive good-for-nothings.

But a growing number of economic thinkers -- and not only on the left -- are saying it could be the exact opposite: that it could be the policy idea of the century. While not exactly a silver bullet to solve all ills, it could eliminate poverty to a great extent, and set the stage for a healthier and more productive society.

And if that idea appeals primarily to those on the left, there is one principal reason why it would appeal to those on the right as well: It promises to reduce the size and intrusiveness of government.

Under the UBI, every adult gets a monthly cheque from the government, regardless of their income or circumstances. That would solve the administrative problems of the NIT, but political objections to this could be stronger. After all, everyone would get this cheque, including billionaires.