Do you support a universal basic income program?
Yes, everyone should receive an income to cover basic necessities including food and housing
The famous Mincome experiment in Dauphin, Canada in the 1970s saw a small decrease in work hours, mostly among new mothers and teenagers. However, this was a time-limited experiment in a single town, during a period of high inflation and unemployment.
In addition to this, the funding of a nationwide UBI is a significant concern. It would require a substantial increase in public expenditure, which would likely necessitate higher taxes or increased public debt. For instance, a UBI set at the poverty line in the U.S. (about $12,000 per year) would cost approximately $3 trillion per year, about three-quarters of the federal budget in 2020.
Furthermore, UBI may lead to inflationary pressures. If everyone suddenly has more money to spend, demand for goods and services could outstrip supply, leading to price increases, which could erode the purchasing power of the UBI.
@VulcanMan6 7mos7MO
There are more experiments and tests done on this than just that Canadian one, and yet they all show objective improvement.
Secondly, the price isn't as significant of a concern as it sounds when considering the fact that such a UBI drastically improves economic stimulation to begin with, as well as prevents the unnecessary public costs we currently have to put into alleviating issues of homelessness and poverty, which would would largely be resolved by such a UBI. Not to mention the number of other programs and bureaucracy that this could eliminate the need for, and the savings that come… Read more
@AwedRobinLibertarian7mos7MO
The US experimented with UBI when the government sent out relief checks after COVID.
This caused massive inflation.
How would UBI not cause inflation?
@VulcanMan6 7mos7MO
Inflation is caused by the direct decisions of private business owners reacting for their own personal profit, it is not the result of poor people having money to survive. Inflation is the result of private interests controlling our economic decisions, not by the minimal alleviation for the poor. If you want to prevent inflation, while still guaranteeing provisions for the poor and desperate, then simple address those who are actually responsible: private capital-owners.
@AwedRobinLibertarian7mos7MO
Do UBI laws regulate how much business owners can charge for their products?
@VulcanMan6 7mos7MO
I imagine that it depends on the UBI model that is used, but I would argue that a good model would include price/rent caps, at the minimum. Ultimately, it is the private economic ownership itself that is the root problem, so regulations are merely a bare-minimum alleviation, but not a long-term solution.
