Is a Citizen’s Income Financially Feasible? Part One: Fiscal Feasibility
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This chapter asks whether Citizen’s Income is fiscally feasible—that is, whether it can be paid for. Two scenarios are discussed: (a) Citizen’s Incomes funded from within the current tax and benefits system with no additional public expenditure; and (b) Citizen’s Incomes funded from new taxes or from government money creation. Feasibility under scenario (a) is relatively easy to establish given appropriate levels of Citizen’s Income and related adjustments to existing benefits and tax allowances. The feasibility test is simply that no additional public expenditure will be required. Fiscal feasibility under scenario (b) is more difficult to establish. Throughout, the levels at which Citizen’s Incomes are paid and the mechanisms employed to pay for them are related questions.