The basic income already exists, and a small percentage of residents of Minneapolis already receive it. Passive income from capital assets that you inherited is a form of basic income, and we should be thinking much more critically about this. We could, if we chose, under my 100% renewable in 10 years plan decide, as a city, to issue municipal bonds at a low interest rate to finance construction, ownership, and operations of wind turbines under the Minnesota Flip model, and then distribute the revenue from the renewable energy capital assets to every resident of the city of Minneapolis, much like the Alaska Permanent Fund.
Or, we could, as I’ve proposed before, put solar over the interstate highways, and use that capital asset. Both of these are long-term energy-generating capital assets, that, when combined with low-cost municipal bond issues, can generate a return for the city far beyond anything the private sector (or Washington politicians) can hope to offer.
Maybe we can up our game, and instead of a new local fortune 500 company about every two years, we can go for one every year with a UBI for all our residents.