Evidence from the largest universal basic income program in history, in collaboration with GiveDirectly, and featuring former Mayor of Stockton, CA Michael Tubbs
Good piece. I'd add that I wouldn't be concerned about the debt burdens being a condition of roll out. As shown in the case of student loan forgiveness, removing debt (or having excess income to repay it) will still be a net positive for the individual and society in terms of most outcomes https://www.nominalnews.com/p/economic-impacts-of-student-loan
My only concern with cash transfers is/was the potential for inflation/price gouging. That is as a service provider or retailer, I know that everyone has a minimal income, I can adjust my price for the fact. However, coupled with an appropriate income tax (that would tax away said benefit at some income level x), I think there won't be any such issues. Still something I'm mulling over.
I am sorry, but I am skeptical on long term UBI support - and the basis for my caution is the Israeli Religious Scholars program, which over the past half century has evolved into a program supporting an all but permanently and rapidly exanding dependent population. You have to look at the incentives and to quote the economists "solve for the equilibrium". Somebody is likely to find a way to take advantage of the program and if they can do so in a way that is not self limiting, you are going to get a problem you will have to deal with.
Excellent quote from the former Mayor of Stockton! Interesting to see how these programs can translate across countries and cultures.
Thanks for sharing this. A lot of our social programs need work. I take the opportunity to bring up this podcast series every chance I can https://www.marketplace.org/shows/the-uncertain-hour/season-6-the-welfare-to-work-industrial-complex/
Good piece. I'd add that I wouldn't be concerned about the debt burdens being a condition of roll out. As shown in the case of student loan forgiveness, removing debt (or having excess income to repay it) will still be a net positive for the individual and society in terms of most outcomes https://www.nominalnews.com/p/economic-impacts-of-student-loan
My only concern with cash transfers is/was the potential for inflation/price gouging. That is as a service provider or retailer, I know that everyone has a minimal income, I can adjust my price for the fact. However, coupled with an appropriate income tax (that would tax away said benefit at some income level x), I think there won't be any such issues. Still something I'm mulling over.
Let's bring UBI to the USA!
Sad to see these stats! In fact 40% of Americans have a side hustle. It's so important to have multiple income streams these days
What role does immigration play in your statistics?
I am sorry, but I am skeptical on long term UBI support - and the basis for my caution is the Israeli Religious Scholars program, which over the past half century has evolved into a program supporting an all but permanently and rapidly exanding dependent population. You have to look at the incentives and to quote the economists "solve for the equilibrium". Somebody is likely to find a way to take advantage of the program and if they can do so in a way that is not self limiting, you are going to get a problem you will have to deal with.