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RE: Understanding the Fall of Canada

in Steem Skillshare3 years ago

There is one fundamental precept of #UBI that can be discarded. While it can be universal, is it necessary to be equal payments. Young people have the highest potential to earn income. If older people could retire earlier, that would also open up opportunities in the workforce.

The Canadian government increased the child benefit by $100 per month during the pandemic. What if it was allocated to an annuity held by the CPP Investment Board. The annuity would accumulate at ten percent until age 18 (when the benefit ends). After age 18, the annuity would start to payout. The first five percent would be reinvested to continue building the annuity, and the balance would be paid out as the #UBI. The "child" would receive over $100 per month at age 18. Through the magic of compound interest, at age 55, the UBI would be over $2500. By age 65, it would continue to rise to almost $4000 per month.

This example meets the criteria of being self-funded without touching existing social safety net programs.