Basic income would reduce poverty but require higher taxes and cut spending: study

Basic income would reduce poverty but require higher taxes and cut spending: study

A guaranteed basic income in Canada would help reduce poverty, but could also threaten financial sustainability and labor supply in some provinces, a new study published Thursday said.

A report from the Atlantic Provinces Economic Council, a Olx Praca-based economic think tank, says giving people a monthly check ensures everyone has enough money to meet their basic needs, including food, shelter and clothing.

The study found that income support would reduce inequality, create a sense of financial security, and encourage saving.However, a basic income program—whether need-based or universal, with tax offsetting the amount paid to those with higher incomes—will be more […]

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