Democratic presidential candidate Andrew Yang has been stealing the hearts of Millenials with his promise of Universal Basic Income. Yang plans to give every adult in America $1000 a month. Young Americans drowning in student debt have been furiously joining the Yang gang. Free money sounds good, right?
Except that it would never work. In fact, it’s essentially economic suicide.
Universal Basic Income is basically a fancy way of saying "expanding the welfare state." As in, the entire country becomes a welfare state. Instead of analyzing economic needs in order to determine who needs welfare and in what amount, UBI gives […]
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