Is Universal Basic Income Good or Bad?

UBI is Bad for the Environment but Helps Fossil Fuel, Big Tech and Large Corporations It sounds great — guaranteed income paid monthly for every adult man or woman. It is the cornerstone of Presidential candidate Andrew Yang campaign. He calls it the “Freedom Dividend”, promising every US Citizen $1000 a month, no questions asked. The money could be used to pay bills, go to school, fund a business, pay for housing of the homeless. Finally, some opportunity for those that have not to get their fair share from society. Unfortunately, there would be some undisclosed side effects. Massive Inflation and Asset Appreciation Putting $12,000 a year into the hands of hundreds of millions of adults would cost trillions of dollars. The money could simply be printed, or issued into the people’s bank accounts automagically. That’s the easy part. The problem comes with the dilution of the US Dollar. There are over 250 million US Adults x $12,000 would equal to more than $3 Trillion dollars. Let’s write that out — $3,000,000,000,000 USD. The estimated 2020, the total Federal Income Tax receipts, both individual and corporate, are projected to just over $3 Trillion USD. This includes Social Security, Medicare, and … Continue reading Is Universal Basic Income Good or Bad?