Universal Basic Income

Universal Basic Income (UBI) is a fixed amount, at a level sufficient for subsistence, given by the state to all citizens regardless of income or work status.

It would cost the government $1.5 trillion to distribute $10 billion to only children and US citizens earning less than $100,000 annual (74% of the population makes less than $100,000).

The arguments for UBI include equitable and fair distribution of technological advancements; for example it may eliminate poverty and result in explosive growth in creativity, entrepreneurship, and research. While the arguments against UBI include elimination of incentives for production and work, inability of some countries to distribute funds, and global inflation.

What do you think about UBI? If you agree with it, how much is fair? What are some of the downsides you could imagine from it? Whose responsibility is it to provide UBI? Who would benefit? Would you want UBI? If you did, what would you do with your life?

Check out this infographic for a good summary of the issue, including some case studies on its effects.