READ HERE - Article by Matt Wade
A basic income for all adults of $18,500 a year, tapering off as work-related earnings increase, would lift tens of thousands out of poverty and dramatically reduce inequality in Australia.
As employment and earnings are hit by COVID-19 disruptions, three academic experts have evaluated the costs of a payment that would go to most people of working age regardless of their employment status.
Their proposed Australian Basic Income is comparable to a universal basic income (UBI), a policy option that has attracted growing international attention during the past decade. Rather than being paid to all adults, the Australian Basic Income would taper off as an individual’s income rises. Those with an income of more than $180,000 (the threshold at which the top marginal tax rate applies) would not receive any payment.