The evidence from these trial programs has been overwhelmingly positive however. Empirical evidence tends to support this conclusion.Īt this time only ‘trial’ BI/UBI programs have been implemented. UBI itself is a response to the effects of wealth inequality such as lowered educational outcomes (Holmes, 2013) and overall poorer health (Karlsson et al, 2009) which UBI proponents suggest could be addressed through the targeted or wholesale adoption of a UBI program. The idea is not a new concept, having existed for several hundred years in various forms and recently re-entering political discussion as part of the rights-based welfare movement. The payments are also tax-free and are independent to an individual’s taxable income. every citizen of the nation is a guaranteed recipient regardless of socio-economic or employment status. The key factor of UBI is its universality i.e. For simplicity, this article will only use UBI as catchall term. Other similar sustenance payment policies include: Basic Income (BI) and Guaranteed Annual Income (GAT). UBI is a specific type of sustenance payment, a payment that assists the recipient in affording her basic necessities. This will then be followed by a consideration of how UBI concepts can be used for tax reform. The structure of this article is as follows: firstly, a UBI will be explained, as well as the benefits it can provide. Coupling UBI concepts with tax reform could be highly beneficial for the tax system resulting in a more effective, efficient and fairer tax system. Universal Basic Income (UBI) is typically associated with welfare and social security, however an alternative use for UBI is tax reform. This article will examine what areas of tax systems could benefit from UBI -driven reform. Coupling these concepts with several key reform concepts could result in a fairer and more efficient and effective tax system. Whilst UBI is typically associated with welfare and social security policy, UBI concepts can also be used for tax reform. Applying virtue ethics: the Rajat Gupta caseĪbstract:Universal Basic Income (UBI) has existed in various theoretical and practical forms for several hundred years.Applying Utilitarianism: Are Insider Trading and the Bailout of GM Ethical?.Early Roots of the Western Moral Tradition.Episode 3: Issue Spotting and Problem Solving.Episode 1: Financial Ethics, the Performance Enhancer.Seven Pillars Institute’s Financial Ethics Training Video Series: Ethics in Finance is Good!.
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