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Universal Basic Income (UBI) is a type of program in which people receive a regular sum of money without the requirement to work for it. Does UBI make sense?

Positions

Arguments supporting this position

Details

Context

UBI requires vast amounts of public money to function. The funding for UBI programs has to come from somewhere, which may mean the cost of these programs is prohibitive.

The Argument

Implementing UBI at a level where the guaranteed income would ensure sufficient quality of life for recipients would mean spending enormous amounts of public funds, which would create equally enormous budget deficits. In order to pay for a UBI program, the government would have to source these funds by increasing taxes and/or reallocating funds from other large public programs, such as health or education, where the expenditures are more important. The cost of UBI to the public is simply too high.

Counter arguments

The tax increases needed to support UBI are exaggerated and are feasible given current income distributions. UBI would also make many current public welfare programs unnecessary, freeing up that funding without any loss of essential services.

Premises

UBI requires a large amount of public funding. This amount of funding can only be obtained through tax increases or reallocation of resources. It would be financially irresponsible to increase taxes or reallocate resources sufficiently to fund UBI.

Rejecting the premises

The sheer amount of funding needed for UBI does not make it financially irresponsible; it is simply necessary to rebalance the budget correctly.

References

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Proponents

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This page was last edited on Thursday, 20 Dec 2018 at 05:33 UTC