> The core question of basic income is: if people work, do they lose it entirely?
That's not a question in basic income. If you would lose it when you start working, that's just basically your standard welfare system. Basic income is by definition given to everyone without discrimination.
To compensate, you adjust tax levels. In my country you don't pay tax the first few thousand dollars. You can remove that. Then you can increase the tax rate a bit, especially in the higher brackets. Then you end up with most people getting the same net income after taxes and basic income. And you get a smooth and bureaucracy-less progression from unemployment to full employment.
I agree with your comment on people not being good with money or budgets. You would still need some social support system for people with issues or mental disability. Perhaps the government could be granted the power to take some of the income and putting it directly towards housing.
Increasing taxes "a bit" in the higher bracket does not have proportional effects. Beyond a certain level the higher brackets simply opt out of paying taxes - and this level is not much higher than the price of a competent accountant.
That's not a question in basic income. If you would lose it when you start working, that's just basically your standard welfare system. Basic income is by definition given to everyone without discrimination.
To compensate, you adjust tax levels. In my country you don't pay tax the first few thousand dollars. You can remove that. Then you can increase the tax rate a bit, especially in the higher brackets. Then you end up with most people getting the same net income after taxes and basic income. And you get a smooth and bureaucracy-less progression from unemployment to full employment.
I agree with your comment on people not being good with money or budgets. You would still need some social support system for people with issues or mental disability. Perhaps the government could be granted the power to take some of the income and putting it directly towards housing.