The idea of free cash may seem too good to be true, but the Universal Basic Income (UBI) could become a reality. It now has a growing number of supporters, including automated workers, labor rights groups, and even the US government.
The project, endorsed by Mayor Michael Tubbs, a Democrat, was conceived and funded by a nonprofit that has supported other guaranteed income experiments to measure the impact of a universal basic income.
The program is part of UBI, which gives people the ability to spend money as they want. The concept of a universal basic income provides that every citizen receives a minimum amount of money. This is a guaranteed basic income, which is designed to ensure that people on low incomes have enough money to afford basic needs.
UBI would be a series of checks that are sent regularly, probably every month, to every person in the country. In its purest form, the basic income is an unconditional, periodic cash payment that the state makes to all. A universal basic income would mean that the money you receive as a result of such a program is not subject to any conditions, no matter how small or large the money supply.
It is a form of social welfare, in which all citizens receive a monthly lump sum, regardless of whether they are working or earning an income. There is no fixed income that all adults, rich or poor, employed or inactive, automatically receive from the state. It is a "universal benefit" paid to all in a society regardless of income or circumstances.
A universal basic income would be great, however, if it didn't end up in the boss's pocket.
At the same time, it would probably not be a good salary to allow excessive consumption of luxury goods. The Universal Basic Income would improve the lives of all, increase leisure time, and ensure that all people have food and a roof over their heads. Critics of a universal basic income say people are having to work less, seek fewer new jobs and are unemployed. If you want to get people to work to earn a living, why not just give them the money?
The beneficiaries of a basic income would necessarily have to be citizens and behave in accordance with the relevant documents proving citizenship. A true universal basic income would be distributed to all citizens, regardless of age, gender, race, religion, nationality, or political affiliation. The country's authorities would assess the feasibility of such a universal basic income, including its financing, by reassessing resources already used in other ways.
We should explore the idea of a universal basic income to ensure that everyone has a cushion to try out new ideas.