Draft Platform Items (2018 TNC)

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This is a Transhuman National Committee document – not an encyclopaedia article. Please do not edit it without special permission.

[DRAFT pending to the 2018 TNC Convention]

Universal Basic Income Policy Plank

TNC supports a Universal Basic Income (UBI). Currently, the United States spends more than 1 trillion US Dollars on welfare-related expenses—a sum that would be significantly reduced if the current welfare system was replaced by public sector-administered basic universal income due to savings resulting from the absence of means testing, tax rebates, state subsidies, work activation spending, and other social welfare programs. UBI would therefore lower costs, reduce federal government bureaucracy, provide more support for more people, and be less invasive and paternalistic than welfare. Moreover, UBI does not induce work disincentives, meaning that UBI is not affected in any way by income earned from employment. Moreover, UBI could be apportioned monthly in a process.

While as potentially as simple as a flat tax (which has a constant marginal rate typically applied to individual or corporate income), a true flat tax would be a proportional tax—but implementations are often progressive and sometimes regressive depending on deductions and exemptions in the tax base. In addition, UBI would have the significant advantage of applying equally to those who are not required to file tax returns due to low or zero income, and therefore would most need UBI.