A Deeper Look At Universal Basic Income

The idea of a Universal Basic Income or UBI has been gaining wider attention, both good and bad. Of course, some claim it would be a panacea of sorts, while others claim it would destroy the job market and the economy. Not many examine it from a neutral standpoint and look at both sides. Here I will try and postulate what would happen if it were implemented, both good and bad.

Full disclosure, I am in favor of UBI. There have been limited experiments with it in other countries, with varying results depending on the interpretation by sources who have an existing bias. I would be very much in favor of a large scale experiment in the US involving an entire city or state. I don’t find it likely that would happen because of capitalists who fear the results.

Any such experiment would have to be at least a full fiscal year, though two years would be more valid to eliminate attempts to manipulate circumstances and give a more clear image of what adjustments would be needed and true end results determined.

What it is. To recap, UBI is a proposed system whereby each citizen would be provided with a basic income. While we call it universal, it would prove no benefit to offer that income to those above a certain income level, such as those earning above $100,000. Determination of benefits should include a person’s income from all sources, not just wages. Above a certain income level, that money does not benefit the individual or the economy. So it would only serve to remove money from the economy and…