This post is a response to "Who would the transition to Universal Basic Income in the U.S. help and who would it hurt?" https://ecency.com/gradnium/@sarah.lindley/week-12-questions-universal-basic posed by @Sarah.lindley
This is a really good question. Before this week, I was honestly unaware of what a universal basic income really was. However, after learning more about it, I think I have a good grasp on who might benefit and who might hurt from the transition to a universal basic income.
What is a Universal Basic Income?
First off, we need to define what a universal basic income is, because that helps to show who it might impact the most. The idea of universal means that it goes to all citizens, regardless of merit or need. Basic means that it provides for basic needs, such as food, shelter, and clothing. Income meets that it would be in direct cash payments (Trost, min 5). With this idea, we see that every citizen would be getting something from a UBI system, but clearly it would benefit some more than others.
So, who would it benefit the most?
The idea of a universal basic income would definitely be more beneficial to those in low income families. A plan that Dr. Steve Trost outlined gives $9,000 per citizen per year, so a family of 4 would be awarded $36,000 a year. This comes from a 25% flat rate tax for every citizen. So, more affluent people would be getting the $9,000 just like those in lower income families, but the 25% tax would be more of a hit for them than it would be for those of less affluence. Therefore, it is a way to eliminate the current system of welfare and give people more of an opportunity to get out of their current living situation (if it is not a good one). This way, they are getting this income and can choose what to do with it and can potentially better support themselves/their families.
Sources:
https://ostate.tv/media/1_klaiau39
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