How to finance basic income

http://lfpress.com/opinion/columnists/warren-is-universal-basic-income-the-future

The main reason for objection is the misunderstanding of basic income?

Basic income is not “new money” or “more money” as a country has. It is mostly our existing income, which is in our today’s world condition-related. In a basic income society those conditions would be removed to that height, people have decided a basic money supply for all of them.

That means “not more money but converting conditioned income in unconditional income.

Second, basic income “are the goods”, which make it possible to have a dignified and moderate life. Those goods, housing, clothing, food and energy must have a low prize. Because if you have a basic income and you can’t get those goods with your money, basic income has no worth.

Third. Don’t put tax on work. - Work is essential for a basic income society. But there are a lot of people which have arranged, that they have not to work at all, and they have anyway enough money to make others working for them. - But if someone is taking away other peoples work, this could be a reason for paying taxes. - Consumption should be taxed, and not work. Using a graded tax structure, would help people with low income (only UBI), and higher tax rates for luxurious goods.

UBI: Universal Basic Income? "Build the Floor" Founder Larry Cohen on MIND & MACHINE

https://www.youtube.com/watch?v=x_V_PW1cF4M

35:20

It’s interesting we think about how to make basic income feasible. There is some idea about funding it with revenues from common assets and stop welfare-programs and tax rebates to take this money to finance the whole thing, but there is another way to look on the theme.

If we see, that we have basic income now, in form of food, housing, clothing and energy but this supply is connected to some kind of conditions, then we could realize, that transforming the society in a basic income society means only, to switch the “taking right” for those goods from conditional to unconditional.

What does this mean?

If you get some income which is conditional, say a salary from your employer, for example 1500$ and we transform the country in a basic income system, then the employer would spend only 500 for his employee, because the one gets 1000 basic income as a citizen. But these 1000 are no extra money, because it is still part of the price the businessman will charge the consumers for his product. Only it’s location in the price-calculation has been changed! - Now the 1000 are no longer “money for work” and cost for the business-owner, but it is now “money for peoples live” and then part of the taxes, which are included in the price.