No interest Debt
No Interest Debt
The simplest way to fund an "Unconditional Basic Income " is to levy a flat FICA tax on all income (excluding the Basic income ] on both employer and employee. The tax is necessary only to balance the money circulating in the economy with the amount of available skill labor, productive capacity, and raw material. This helps control inflation when the ability to produce goods & service becomes stressed by the scarcity of productive inputs.
The rest of the cost can just be added to the federal debt. That could be financed by the Federal Reserve System with 100 year Bonds at 1% interest. Then the Bonds can be retired from existence with no need for refinancing when they reach maturity.
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