Great discussion so far. I was really worried CP was going to freak out a bit. Admittedly, when I first read about it, the idea seemed crazy.
A couple quotes on funding from Wikipedia:
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Specific, though informal, measurements were made by Pascal J. for Canada.A 2004 taxable basic income benefit of $7800 per adult could be afforded without any tax increases by replacing welfare, unemployment, and core Old age services. (Canada has supplemental poverty old age programs and pension system). The number excludes any intangible benefits of tax revenue increases due to higher spending and lower personal savings, and any expenditure savings on criminal enforcement.
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Note that the figure is still well below the poverty line.
And from studies in the US:
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basic income can also be funded through monetary policy. Instead of printing money for direct bank funding, money is printed to give directly to citizens who then spend it in the economy and fund banks indirectly through deposits.
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To me, it seems like the experts agree it is doable. The questions in my mind are 1) what are the larger ramifications for society, and 2) if we can realistically do it, is there a moral imperative?