May 31, 2020
On Saturday May 30, 2020, in large red letters in the Toronto Star’s Insight section, the question is asked: “Is the time ripe for a basic income?”
Beside the headline, some supposedly provocative figures are mashed together:
“$2000 – Monthly amount of the Canada Emergency Response Benefit
$151.7 billion – Total emergency spending to date including $40 billion to 8 million on CERB
$86 billion – Estimated annual cost of a basic income the last time it was looked at
$260 billion – Revised estimated deficit, $8 billion higher than last reported.”
I think what the headline and the numbers are trying to acknowledge is that, as a nation, we suddenly agreed with the idea of handing out large amounts of money to our residents who lost income because of the COVID19 crisis. We also proved that it was possible to pay out that amount of money quickly.