Pros and Cons of Universal Basic Income

Universal basic income, or UBI, is a modern-day concept under which the government distributes cash payments to all.

Reasons For Universal Basic Income

Income Inequality Income inequality has been on the rise over the past decades. The highest-earning 20% of US households have steadily brought in a larger share of the country’s income.

Wealth Gap The rich are getting richer, the middle-class is shrinking, and the wealth gap is growing.

Poverty The poverty rate in 2019 was 10.5%, or 34 million in the US. This rate was the lowest since 1959 and had been on the decline for the past few years.

The Pandemic Effects The coronavirus pandemic caused a severe economic downturn with high unemployment, which remains at high levels.

Automation May Displace Workers There have been rising worries that artificial intelligence and robotics can displace workers in the future.

What Is Universal Basic Income? Universal basic income or UBI is, in theory, a government program that distributes periodic cash payments to all citizens without conditions or strings attached.

How Much Money Would People Receive? Income estimates have ranged from $1,000 to $5,000 per month.

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