Universal Basic Income Research Paper

Universal basic income The aim behind universal basic income is to provide a fixed amount of money to all citizens to cover basic living expenses, irrespective of employment status or income level. Unlike current assistance systems, a universal basic income (UBI) would not impose means testing or occupational restrictions. Universal basic income has existed for centuries, but what is Universal basic income? “Universal basic income (UBI) is a government program in which every adult citizen receives a set amount of money regularly”. Kelly. A basic income system would reduce poverty and replace need-based social programs. “The goals of a basic income system are to alleviate poverty and replace other need-based social programs that potentially …show more content…
In most situations, citizens would pay for Universal Basic Income through government tax revenue. In the past, during trials of UBI, it was paid for by non-profit organizations. Universal Basic income has been around for many years since the 17th century brought about by Thomas Spence and later Joseph Charlier in the mid-18th century.“Universal Basic Income, commonly called UBI, is not a new idea.” (“Universal Basic Income (UBI): Exploring Its Benefits and Impact”). Friederich Hayek endorsed the idea in 1962. In 1967, Martin Luther King Jr. said “The solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income.” (King ). Richard Nixon also advocated for it and tried to pass a version, but it was unsuccessful. The concept of universal basic income was once again floated as a solution as COVID-19 gathered traction. This time, it was perceived as a way to address economic inequality. One of the first such trials was a program called Mincome, established by a Canadian province in the 1970s and guaranteed income for low-income …show more content…
If everyone received 1,000 to 2,000 a month, that could be more money they are making at a regular job trying to support their families. Working a minimum wage job for $7.25 per hour would bring home $1,218 per month. If they are living in a one-parent household who work a minimum wage job, having UBI would bring in $782 more dollars into the home, not including the amount given per child in the house ($300).“Overall, UBI can benefit individuals, communities, and economies significantly.” (“Universal Basic Income (UBI): Exploring Its Benefits and Impact”). What are some of the many disadvantages of Universal Basic Income?“While interest in basic income has surged again recently, a true universal basic income has never actually been fully implemented, and countries around the world are still weighing the pros and cons.” (Marinescu) There are many scenarios where universal basic income could go in the wrong direction. Such as people who do not use the opportunity to better themselves and their families, but take it for

Show More

Health care crisis Essay

Attachment Theory Paper

State Pension should not be Abolish Essay

Human Development, Family And Society

Health Policy and Values Essay

History Of The Hungarian Health Care System

Day in the life of Bob Essay

strategy management 2 companies4 Essay

Social Equality In Canada

Hunger In Virginia Research Paper