Another refried failed policy from, this time, the 1970s. Failed for Nixon; why would it fare any better now?
Not only Nixon, but the former USSR as well.
If you are guaranteed a "minimum income", what happens if you want to earn more than that? Will you receive more if you work more?
And if you get your "minimum income" REGARDLESS of your output, just HOW PRODUCTIVE would you want to be?
Mathmatically speaking, if you get $X for working Y amount of hours, to produce Z number of widgets, with a "guaranteed minimum income", would you still receive $X if you only work Y-A
* hours, and only produce Z-A
* number of widgets, or would you be paid $X-A
*, like you SHOULD BE PAID!
If you work Y+A
* number of hours, and produce Z+A
* number of widgets, would you still get paid $X, or would you get paid $X+A
* for those hours worked over Y?
*(A being any number less than or equal to X, Y, or Z)
IOW, WHY would anyone want to work more for the same amount, when they can work little or none, and still get paid?