What is Universal Income and how does it work?
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Essentially it’s a welfare program that everyone gets instead of just the poor people.
It replaces every welfare system. Food stamps won’t exist. Housing subsidies won’t exist. You just get money.
The purpose is to give people a bottom floor that should be able to afford the bare essentials and then from there any work they do will let them reach higher and get more.
So ubi would give you enough for a small apartment and food and a used car. If you got a job you would keep your ubi but now that income can go to something like a better apartment or even a house. Or it can go toward better food or maybe things like a nice tv. All of these things help the economy too since that money is (likely) being spent.
Another major benefit is since you have the basics set already you can risk your time and any savings on a business yourself if you want to be a painter you can quit your job and try and be a painter and make money without needing a massive nest egg to survive for months or perhaps heads of no money. Same for starting a business or anything else. You will have a guaranteed minimum income.
One of the reasons this is better than welfare is most welfare systems have caps. If you make too much you lose it. This encourages people to actually make less money. It’s stupid and counter productive.
Funding is another talked about point. Funding would mostly come from getting rid of all the current welfare system and then more taxes on the rich would need to come about.
It’s debatable if it would work or not. But it would need a massive shift in corporate thinking and work forces around the country/planet if it did start.
It is considered one of the best options for the impending ai/robotics shift though. As automation increase jobs will decrease. Ubi is a way to change that from being a catastrophe.
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