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A big discussion topic around a UBI is its affordability for society. Proponents of UBI propose to use one of the three principal sources of taxation:
- Income Tax
- Consumption, Resource and Waste Taxes
- Wealth, Dividend and Rent Taxes.
However Modern Monetary Theory (MMT) suggests that the ‘Magic Money Tree’ has finally been discovered. The state can just release money as long as it controls overall money supply through taxation.
The Gower Initiative for Modern Money Studies (GIMMS) does not only discuss and inform about MMT. It has also written a blog about UBI. The blog seems to be more in favour of universal job guarantee than UBI. However it does not explain whether all the necessary reproductive work in families, communities and society should be transformed into paid work or continue to be supplied as ‘voluntary’ contribution to society.
The blog stresses the importance of collective agency (to make societal changes happen) but it does say anything about individual agency as precondition for collective agency. A UBI would not guarantee such individual agency but it appears to be a helpful precondition.