Alternative Solution to Basic Income
We are going to need a way to care for our citizens in the future and universal basic income simply isn’t going to cut it.
Everyone’s talking about the idea of a universal basic income, but this simply isn’t realistic. We must find an alternative to universal basic income.
Match the savings of lower-income workers when they invest in assets that encourage their future financial security
Matching the savings of lower-income workers when they invest in assets, such as small businesses, homes, and retirement accounts, encourages their financial security in the future. What you may not know is that the U.S. already does this for richer people, just not for those who are not as economically stable. The United States spends more than $500 billion each year to aid middle and upper income individuals in “building wealth.”
Rewarding aspiration and investment is a good public policy. However, current efforts in the United States are weighted toward aiding the households and individuals who are already wealthy.
Increase the bargaining power of workers
“If one believes that human labor has great value, the establishment of platforms that protect and leverage this value is critical to ensuring that workers can continue to receive fair wages even as the world of work changes rapidly.”
Build a post-secondary education and training system
The education system favors the privileged, serving a small number of individuals who attend fairly expensive institutions. Therefore, we must examine how we can expand educational opportunities to meet the needs of more individuals.
Implement health care services
Why don’t we implement universal health care services as opposed to implementing a basic income and worrying about what that money will be used for? A “single-payer system”, under which the government finances health care, may be the only way of achieving distributional efficiency in the United States health care system.
