This is the absolute best argument I’ve read so far pertaining to a potential universal basic income. You’re right, the costs of handing the public some basic form of financial security definitely would be less costly than paying hundreds of billions a year to house people in prisons because they’re forced to commit crimes in order to survive. America is now a welfare state anyway, and a third of our population relies on some for of government assistance. Why not give people the basic means to survive? Crime rates would drop for sure.
While our health care system is one concern, the costs of crime are never ending it seems. Fraud costs financial institutions billions annually, and retail stores are constantly fighting a battle with mass theft. Then we have the extremely overburdened criminal justice system.
It would also create more competition among employers, as workers would have more bargaining power, and wages would rise.
But there’s some concerns as well, including the fact that our political leaders would rather watch us all starve and freeze to death than ever lend us a helping hand. We got where we are now because of self righteous and self-centered political leaders who were born with a silver spoon in their mouths and can’t see outside of themselves. The sociopaths who run our country would never allow for such a thing as UBI.
The other problem is inflation, as others noted. But its more than possible that an increase if competition among employers and rising wages would likely offset the risks of inflation.
Either way, what we’re doing now isn’t working, and even if UBI didn’t work in the long run, its better than what we have now. America is now the land of no opportunity, where you forced into in poverty regardless if you have a college education or not today, no one cares.
We’re all stuck with the reality of a society with no jobs, no hope, and no possible resolution. The effects of income inequality and mass poverty are also starting to show there cracks. We’re now more than ever a morally broken society. Children are taught by their parents to value nothing, and to trash the world that surrounds them.
Running a fairly large media organization on the web for the last 4 years, I’ve had the opportunity to witness first-hand how humans have descended into a state of mass immorality.