What are the benefits to universal basic income

Tyler Moseberry, Courier Staff

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Making money is a necessity, and depending on your financial circumstances, you may have to get a job or two to support yourself. When you are pursuing an education and trying to put a roof over your head, it can be difficult. This is why having a universal basic income can be beneficial for people.

The United States can afford to give the whole entire country $1,000 per month. This is not some run-of-the-mill pipe dream because the government is debating on implementing this. Right now, they are trying to test if this could be used with welfare or if it should be used alone.

If UBI was used in conjunction with welfare, it could benefit people that are already on welfare exponentially. What makes UBI nice is that the requirements do not have to be as harsh and the payment is absolute. That being said, welfare can be difficult to get and have a lot of special hidden requirements. You are required to find work, and if a job is found, then you have to take it regardless of what it is. This obviously means that you may end up with a job you are unhappy with and it can deter you from finding a job that you would put your best effort toward.

Some people believe that if you give people this $1,000 stipend, they would waste it on things they do not need. Studies have shown that this is far from the truth, and when people are given additional funds, they appreciate more. The biggest problem we have right now is that there have not been enough long-term studies on how people react to having this money. If we do not look into this and do these studies, the government will never fork up the cash.

Requirements are important for something like this and they help keep people that may not need this stipend from receiving it. One way to ensure that the people that need the money get it is to have a proof of age (18+) and monthly income report. These two methods including a background check can ensure that the people getting the money are also law abiding citizens.

Another common misconception is that if you give everyone $1,000 a month it would disrupt the prices of goods. This is not true as studies have shown the increase in income with the perimeters given above can improve the circulation of money. The reason for this is the money that people are getting can be used to pay off the bills they have. If people can pay off their bills, they will have more disposable income and will be able to buy things that they couldn’t have before.

So, instead of creating higher prices for goods, you can potentially drive prices down because the demand will be higher. Above everything else, people tend to be happier and more productive when they have an income they can count on. This can be important when jobs get cut or something happens in someone’s life. The possibilities are almost endless and it is up to us as citizens to push for this to happen.