The market doesn't capture and represent all value created by labor. When I call a tow truck to jump start my car, that transaction is captured by the market, but when I call my friend with cables to do the same thing, it is not represented in the GDP. The same thing goes for a lot of "work" that is not done for compensation but adds a great deal of value to community. Basic income recognizes this fact that merely existing as part of a community you are providing some basic value even if you're not paid for that work. I think the critics are right that there are potential cultural problems around entitlement and an unwillingness to contribute in any form, but I'm more optimistic about human nature.
The EITC and a basic income are actually very similar in effect. The difference is largely in the mechanism of distribution. With a basic income, every citizen gets a check every month. With an EITC you get it in a lump with your tax refund, if you qualify for it.
Yeah, I got a red light ticket there. My court date got postponed to more than a year after the original infraction. The cops like to pick off cyclists along the north side of Flushing because cyclists will (quite rationally) run those lights -- there is no crossing auto traffic (bike lanes run along the top of T intersections) and very low volume (and easy to see) pedestrian traffic. Sucks.
There is plenty of "work" that happens outside of the labor market. Some days I pay a babysitter to take care of my daughter; other days my wife has off instead and does the same job.
Once, my battery died and a paid a tow truck for a jumpstart. Another time, I was able to call a friend to get a jump instead. Both times the same service was provided.
The last time I moved, I paid movers to haul boxes. The time before that, my brother and I did the work.
Money in exchange for labor isn't the only way useful work gets done and counted. Some things will still get done even when people aren't paid to do them.
Yes, there are a number of voluntary, tax-privileged retirement savings options, some of which may only be provided by employers, but not all employers provide (e.g. 401k/403b).
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