Arguments for and Against a Universal Basic Income
Paying all citizens of the world a set amount of money each month is the central idea behind the universal basic income (UBI) concept . The initiative would do away with qualification requirements, reducing the social stigma associated with government aid and saving money on administration. This might theoretically save the government trillions of dollars annually, but how feasible is it? I think it's crucial to weigh the benefits and drawbacks. To begin, UBI is financially viable and has the potential to reduce annual government spending by billions of dollars. Some experts in the field of public policy support the concept of a universal basic income, while others are more cautious. Many worries that universal basic income would be insufficient for the economy. Some see it as a viable solution to the economic and job issues brought on by technological advancements and global warming. In addition, it would do away with many of the policy traps and perverse incentives that are part ...