Humanaut wrote:
Would the the amount be enough to cover basic needs like food, shelter, healthcare, clothes, shoes, and other necessities?
Yes.
Even your internet access.
Even for small luxuries. But if you want to supply a family, have a car or a bigger house, you would need to work in order to get enough money.
You would even have to earn so much money that you start paying taxes.
I suggest a system based off one Negative Income Tax, that is given to everyone who earns no money.
When they earn money, they get their Negative Tax reduced. When they earn enough money to sustain themselves, they pay taxes.
In addition, there should be some additional welfare payments to those who cannot work because of chronic disability or illness.
Its essentially the same system that many countries already have. With the only exception that you don't HAVE to work in order to get the lowest unemployment benefits.
Actually I don't believe it would cost anything additional than the current system based off too much bureaucracy trying to activate those who recieve unemployment benefits. That costs money too, save that money and give it to the needy.