CHAPTER 11

Funding

Considering that, with the disappearance of jobs and the likely introduction of a UBI, the big question is going to be how to pay for it? Obviously, the money needs to come from government who in turn need to get the money from somewhere. The next question is going to be, if governments are able to provide it, will the money be sufficient?

Government finances constitute revenue and expenditure. A ­revenue transaction is one that increases the net worth. Revenue is the sum of taxes, net social contributions, sales, other current revenues, and capital transfer revenues. The chief way the government gets the money it spends is through taxation. Annual federal revenues in America are currently around 3.2 trillion U.S. dollars ...

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