The latest liberal fad for reducing poverty and income inequality is called a “universal basic income” or UBI for short.
California Democrats have included a UBI provision in their state Democratic platform. And two California cities are implementing limited UBI pilot projects. Unfortunately, the idea is both unaffordable and won’t fix the low-income problem.
Under universal basic income, everyone from the poorest to the richest — that’s why it’s called “universal” — would receive a taxpayer-provided monthly income, perhaps $1,000 per month, or $12,000 per year.On the positive side, that level would bring a non-working single individual up to near the […]
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