A popular argument levied by opponents of universal basic income (UBI) — an unconditional, periodic payment given to all members of a society — is that recipients will use the money on frivolous purchases.
But the first data is finally trickling in from a UBI experiment in Stockton, California — and it seems most of the 125 people in the program used the $500 they received each month for food, utility bills, and clothing.
A new Associated Press story breaks down the spending: recipients spent about 40 percent of the funds on food, 24 percent on sales and merchandise, and 11 […]
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