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UBS is a commitment that is expressed, not as a sum, but as a share of gross domestic product
The operative word is “shares”: Even with indexation, the UBI is a fixed commitment. What happens as national income or profits continue to rise in an automated world? Is no share to be passed on to the population? Must we be reduced to annual debates about how to adjust the UBI? One can imagine that such debates would constitute a continuing sequence of nightmares.
I’m going to propose a simple amendment of the UBI that holds out serious hope of dealing with all these issues and more. I’m going to call it the universal basic share, or UBS. It is a commitment that is expressed, not as a sum, but as a share. Specifically, I propose that we commit a fixed fraction of our GDP to the provision of a universal income for all.
UBS or Universal Basic Share ... sounds like a good idea