October 13, 2017

Study: Universal basic income would grow the economy

Fortune - A team of economists from the left-leaning Roosevelt Institute conclude in a new research study that implementing a guaranteed income of $1,000 a month for all Americans would accelerate U.S. economic growth by an additional 12.56% over eight years if it were financed by increased federal debt.

If the same program were financed by increased redistributive taxes, the growth impact would be smaller, producing an additional 2.62% of GDP growth over 8 years. But the federal deficit would also, according to the model, shrink by 1.39%. In both scenarios, unemployment would also decrease.

A universal basic income, or UBI, is a once-fringe policy proposal that has gained increasing public support in the U.S., including from many tech business leaders including Elon Musk and Mark Zuckerberg. In part, the idea is appealing because it would help insulate workers against labor market shocks likely to be produced by innovations like self-driving cars and artificial intelligence.


Anonymous said...

Was everyone born yesterday? Have the ruling class been putting Stupid pills in the water? Or is this just another owner-class scam being pushed by poleznye idioty and the chronically hard-of-thinking?

A UBI would be nothing more than another owner-class lagniappe subsidised by the working class because the owner class will simply RAISE PRICES to capture it.

That can't be a newsflash, so who is REALLY behind the idea?

The only way to avoid that is to supply in ready-to-use form, as the benefits of responsible citizenship, the means to a dignified life. Start with shelter and healthcare, and work up from there.

Bill Hicks said...

And growing the economy increases global warming substantially.

The solution is to END capitalism, not "fix" it.