Make it Solvent
There are only a few ways to sustainably implement UBI that uphold its core values (giving wealth to people equally while not taking wealth from individuals):
- Monetize public goods, like leasing federal land, unlocking new wealth to share with all
- Leverage the gains in automation by taxing the supply chain on wealth created by robots
- Capture value in social capital that individuals can't, like personal data or attention
- Eliminate bureaucratic waste and trade the wealth gains for equal cash payments for all
Avoid the Pitfalls of Progressive Liberalism
Printing money, taxing the rich, and means testing DO NOT UPHOLD THE VALUES OF UBI. Many of these sentiments stem from cultural values or personal views that are toxic, like hating the rich, blaming capitalism for their problems, discomfort with power imbalances, paternalizing the government, or viewing greed as the enemy. None of this has anything to do with the economic logic of UBI, which spells out clearly its true intention: to boost the prosperity of all Americans. Ending poverty, for instance, is not the core intention of UBI - it is merely a side effect of boosting the prosperity of all. Many of the poor are left out of means tested programs due to administrative difficulties, insolvency of funds, complex application processes, etc. Under UBI, no one is left out, thus 100% of the people in need get it.
Fund UBI with a Strategy of Diversification
There are many nuanced and distinct mechanisms for applying the four things above. I've personally heard over a few dozen great ideas. We should do as many as possible, just like diversifying an investment portfolio to mitigate risk. This will ensure that UBI is eternal and can grow over time as technology improves.
