This idea has floated around for many years mainly in left leaning circles. But now more and more this idea is being entertained in more conservative circles. Also described as a guaranteed income for all, it would imply that the government would give a lump sum of money to all citizens 18 years old and older. This would replace all social programs that are now offered to the average citizen. The amount of money given would be 18,000 dollars per year, pegged to a common measure used to combat poverty.
The benefits are clear; from unemployment money to old age security to baby bonuses all could be replaced by a one time lump sum of money to cover all. Yes, it would be subject to taxes but nothing would stop someone to earn money if they choose so, commonly called work. Let’s not forget the savings that could be achieved in the bureaucracy that is linked to all these social programs. Obviously, the more a person works the less it would keep of the 18,000 dollars. That would keep the cost of the system down without discouraging people form earning money.
As robots are slowly invading the workplace of so many people that once thought they were safe from the onslaught, it makes sense to imagine ways in which people can still have money. After all, if we lose our jobs on a massive scale, who will buy all those useless items of consumerism that must be bought if we want our economy to grow? A good reason why economies grow is in part due to consumer demand. We may have no choice in he future but to subsidize people so that the economy can still function properly. It would be the human thing to do.