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Recovery UBI Funding Options - Overview
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Prepared by: UBI Works, in support of the the Recovery UBI Campaign. Sign the petition!
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Accompanying data for article: 'How to Pay for Recovery UBI'
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How much will the Recovery UBI Cost
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The Recovery UBI has a net cost of $199 billion. See the the associated Recovery UBI Cost Modelling sheet for details on the cost modelling.
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Overview
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In order to demonstrate that the Recovery UBI is affordable and could be paid for with both adjustments to the current tax systems, as well as with the introduction of new and innovative public revenue tools, UBI Works has developed this listing of funding options with associated revenue estimates. Each of the options presented has been researched and is based on the best available data. These options are not presented as final proposals, but rather as a set of ideas that demonstrate how a new UBI could be resourced in Canada using various tools that appeal to diverse audiences. UBI Works is not endorsing any one option at this time.
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In this doc:
1. Nearly $1 trillion dollars worth of Funding Options for a Basic Income with Sources
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2. Eight Ways to Pay for Recovery UBI
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What is the Recovery UBI
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UBI Works Recovery UBI is a mixed model basic income that includes a $6000 annual Universal Basic Income (UBI) paid to all Canadian adults (age 18 +) and a Guaranteed Minimum Income (GMI) that is based on income of up to $24,000 annually for single Canadian adults and $18,000 annually for all adults who are in economic families. The GMI is clawed back at two rates based on income source: (1) income from employment is clawed back at a rate of 50% on each $1 earned, and (2) income from government transfers, investments, private pensions, and other non-employment sources is clawed back at a rate 0f 100% on each $1 earned. The GMI component is designed to interact with existing government cash transfer programs and not to replace them, allowing Canadians the option of maintaining existing income sources from the programs or collecting the Recovery UBI GMI if it may improve their situation.
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Input and Ideas
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At UBI Works we welcome dialogue and input on the ideas that we have presented here. If you have feedback or ideas that you would like to share, please contact Ben Earle at ben@ubiworks.ca.
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