UNIVERSAL BASIC INCOME BENEFITS QUESTION ANSWER 2022

Running head: UBI 1
UBI
Name
Institution

UNIVERSAL BASIC INCOME 2
UBI
Benefits of Universal Basic Income
A basic income cannot be cut and thus obtaining a job as well as extra income would
often make a person’s financial situation better. Also, work is often rewarded. The next
advantage is that instead of a ceiling a UBI creates a platform from which individuals may boost
themselves up. The UBI remains not essentially expensive. From the film, a UBI of one thousand
pound per month in the United States might essentially grow the growth domestic product by
twelve percentages for 8 years since it would allow poor individuals to spend huge amount of
money as well as increase the demand.
Challenges of a UBI
The idea of UBI fundamentally changes how most society remain constructed. Also, it
forces numerous individuals into spending most part of their time on different things they do not
care about. For instance, in the year 2016 only thirty three percent of the United States workers
participated at work, sixteen percent was actively unhappy as well as 51 percent were physically
available at work. UBI might give the poor people adequate leverage to seek for better pay as
well as working conditions. From the film, we found that a UBI does not address all the issues
relating to equality such as rent.
Is The UBI A Good Idea?
Though Universal Basic Income makes a good slogan, it remains a poorly designed
policy. Basic economic theory suggests that taxes on income remain distortionary inasmuch as
they discourage investment and work (Cowan, 2017). Furthermore, governments ought to
prevent transfers to the same individuals from they collect revenue, but that remains exactly what
a universal basic income would do. Also, the biggest concern of UBI is that it encourages many
employees to stop working. If individuals are not working, there remains less taxable income.