What would a “Basic Income” really do for America?
The United States of America has faced sky-rocketing income disparity for decades, and this issue has been gaining more attention with the 2020 presidential election only one year away. Andrew Yang, a 44-year-old Democratic entrepreneur, is making his way up the polls through a very popular idea: universal basic income (UBI). With Yang popularizing the decades-old idea, and with the middle and lower classes being increasingly challenged in the face of the American economic system, UBI has been entering the zeitgeist. To understand UBI and why it will be beneficial to provide adult citizens with money each month, $1000 under Yang, for example, it is essential to understand two main ideas: UBI to reduce income disparity and UBI as a freedom dividend.
Peter Barnes, in his book With Liberty and Dividends for All, clarifies the concepts of UBI in relation to income disparity and freedom dividends. He argues in favor of UBI, an idea that has been around for decades but is only recently gaining traction as a force of a trend toward a more financially equitable land. Barnes explores the argument that the current economy cannot sustain a massive middle class for much longer, and while UBI will not solve all of America’s issues, it will do more than any other solution that is currently out there. He clearly lays out the power of UBI to stabilize the middle class by creating a basic income via common property shares and dividends. READ MORE
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