Universal Basic Income and Land Value: A Canadian Assessment, with Implications for America

Richard Pereira
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Richard Pereira: York University

Chapter Chapter 6 in Financing Basic Income, 2023, pp 119-137 from Palgrave Macmillan

Abstract: Abstract Recent and prominent basic income proposals in the United States and Canada are introduced and explained in this chapter, with a focus on Andrew Yang’s Freedom Dividend financing proposal. A new financing method is explored for both countries based on land value—one with a rich philosophical and political tradition in America dating back to Thomas Paine and Henry George. The concept of a land value levy or LVT (Land Value Taxation) is quantified and applied to the financing of a basic income for the first time in Canada, and presented as an alternative financing option to Yang’s VAT (Value Added Tax) for the Freedom Dividend in the United States. The LVT’s progressive structure versus the VAT’s regressive impacts are explored and offered as a complementary finance mechanism to the Financial Transaction Tax and other elements of Yang’s proposal, while removing VAT. Other sources of economic rent are discussed in the final section to further increase dividend payments to citizens.

Keywords: Economic rent; Land rent; Resource rent; Freedom dividend; Sovereign wealth funds; LVT (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:pal:etbchp:978-3-031-29012-1_6

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DOI: 10.1007/978-3-031-29012-1_6

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