UBI, or universal basic income, is a form of direct cash assistance to help the most vulnerable get back on their feet. A new study in Denver suggests it works.
Why are people ignoring that 100% of this money would be pumped back into the economy every month? If you want your economy to boom, you pump money to people with the least means.
People who only focus on “but it’ll cost xxxx per year!” Are completely missing the big picture. This money is taxed twice, because it becomes income, and then sales tax. When it is spent, it directly helps the local economy, which in turn inflates the state economy, which in turn inflates the US economy.
If you want a gilded age of economic growth and prosperity, this is how you do it.
Also, the money can come out of state budgets as well as federal budgets.
Why are people ignoring that 100% of this money would be pumped back into the economy every month? If you want your economy to boom, you pump money to people with the least means.
People who only focus on “but it’ll cost xxxx per year!” Are completely missing the big picture. This money is taxed twice, because it becomes income, and then sales tax. When it is spent, it directly helps the local economy, which in turn inflates the state economy, which in turn inflates the US economy.
If you want a gilded age of economic growth and prosperity, this is how you do it.
Also, the money can come out of state budgets as well as federal budgets.