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His plan isn’t very good because he sets it up so you can either get the thousand dollars or the benefits from low income social programs. His proposal is basically to convert benefits into cash for low income people. There is a very good reason food stamps isn’t paid in cash. It makes it easier to abuse the poor and it makes it easier for the poor to abuse the system. Ultimately, his plan is very likely to hurt the poor and working class. I don’t understand economics enough to comment on the overall economic impact, but I am totally against his version of UBI.
My uncle and his wife live off his $775/month disability income. My uncle has always been their single source of income. Thankfully, they own their home and the property taxes are low. If their income increased to $2000/month, it would certainly improve their lives. They could afford to do more than just barely survive and depend on family so much.
Well, if everything goes as well as his supporters hope, then I believe it would boost the overall economy by introducing a lot more spending, instead of just a lot of flowing capital. With the influx of a lot of consumer spending and a nose turn-up to some of the cheapest products, the economy will experience a nice boost that could last up to a generation, but probably not.
I am only guessing, but if everyone got a basic income, would every product rise in price, lead to inflation, and as such leave you in the same predicament as before?
A basic income policy maybe on a limited basis yes. Andrew Yangs policy no. Yangs plan also calls for removing other programs that many, especially the poor, rely on. His supporters generally don’t bring this up. Yangs policies are very disingenuous.
I don’t think it’s the best policy. I think we should increase the deduction for each individual. Creating more layers of bureaucracy is going to lead more waste
It could if there was only enough money in the budget to do so considering the current deficit.
If everything goes according to plan for I’d say 99% of any politician nothing they say they plan on doing will help anyone but them and their friends in government.