Income

  1. We are committed to implementing a basic income for every citizen of the United Kingdom, with the intention that the net amount should be sufficient to keep a person of any age housed, fed and recreationally fulfilled.
  2. The basic income of a ward will be administered by theĀ legal guardian, otherwise by the adult citizen directly.
  3. We anticipate this system will eliminate, for example, means-tested benefits, the state pension, child allowance, winter fuel payments and per-pupil education payments to schools.

 

Rationale…

There was a time when industry needed the average worker but those times have long gone. Profit making is largely independent of the workforce. What it’s dependent on is consumers.

People with no job are ineffective consumers unless an alternative source of income is open to them. Means-tested benefits can provide that source of income but leaves the recipient in a poverty trap where earning brings in only a pittance more than the benefit did. For annual earned incomes today between zero and several thousand pounds, the recipient rides a roller coaster of losing or gaining mere pence in the pound while losing more and more hours that were otherwise valuable.

The revised tax system laid out here does away with this injustice. Means testing is abolished, every citizen has a basic income and the choice to either enjoy devoting time to one’s own pursuits, or to earning more money.

A progressive system of personal taxation links the maximum income after tax to a multiple of the basic income. The higher that multiple is, the less society coheres. People will work for earned income when it improves their lifestyle and the work itself provides fulfillment by contributing to society’s needs.

 

See…

The Guardian

Ten reasons to support Basic Income