Read somewhere that this system could actually grow the economy by 12 percent in the US alone.
Not bad.

It shouldn't come from taxes as this can cause animosity from the working class.
Funding should be diverted from other existing governmental budget streams. Those leading nowhere.
Inflation rate will stay the same.
Will increase spending and lower the crime rate, benefiting every citizen.

Where has rolled this out so far? I seem to belejve an area of the Netherlands have?

all government funds come from taxes.

maybe as a tiered system where the more skill or qualifications a career required effected the tier of standardised pay you'd be seeing.
you can't have doctors and binmen on the same money.

it would be too much for many people to stomach as a concept, not sure I'd like it that much myself. I do suspect however that if everyone got to experience it upon the magical click of someone's fingers, a lot more people would like some of the benefits it produced.

huge changes to society require everyone to recognise the approaching precipice of doom before enough will existed to try something new. it'll never happen.

Greek economist Yanis Varoufakis believes that funding should come from a 'Public Equity Trust' funded by a percentage of all shares of the stock market.

''So if capital is socially produced, why are returns to capital privatised?''

Big Think

It's already happening.

Sorry, should then come from existing governmental budget streams from existing taxation avenues.
Or, from the 'Public Equity Trust' proposal by economists such as Yanis Varoufakis.

There was that social experiment in Finland a few years ago.
It did look promising.

Bad idea! You make what you earn. You earn what you work for. I don't work to give my money away. Also, people will abuse. Number of people looking for freebies will increase manifolds. It may be a fairly cute idea, but it will become a replacement for idleness. As a result, the economy will suffer.

i believe Spain is also testing something like this.

It can never work in a resource finite world. The concepts of supply, demand, skill and scarcity factored together with human nature is what the socialist has never understood.

This would require a huge funding, btw. All government funds actually come from the public, and I'm not okay with the judicial system and its generous vollies distributing (my money) and siphoning a large chunk of public taxes like that.

Also, people will start leaving their jobs (or going for less demanding jobs) consequently falling into the vicious trap of disguised unemployment. How will UBI be a boon to the economy this way around? More bad than good, and also not very doable or practical.

No no no fkin no. The minimum wage is bad enough

Doesn't the money get redistributed back into the economy with VAT used in a system where there's universal basic income and isn't most of the taxation under a UBI used against companies who use off-shore accounts to legally evade taxes?

An economy based on endless ''growth'' is unrealistic, mass automation is a looming problem also. If resources are finite how can you have endless growth?? Unless we are expanding into some sort of new frontier.. with literally endless resources Any of you want to make a guess where that might be?

It does, but people don't want to think about that.

With these ''covid payments'' (UBI by stealth) it's been said that people are spending more than they usually would.. it's all going straight back into the economy and keeping it afloat.

You could say a new phase is being ushered in, people just aren't realising it yet.

I don't see the issue; I am in favour of UBI.

I am keeping Sony and Microsoft afloat in SA (and videogame developers) with my endless spending on videogames, consoles and associated peripherals.
Indirectly, I'm helping the SA economic situation through Socialist-Capitalist practices

Personally the expenses incurred in my household have been much lesser compared to when we went outdoors more.
I also noticed there are actually many oppurtunities via remote work, so it hasn't been that bad. The Covid relief has been a blessing to be fair.