Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

The Pros and Cons of a Universal Basic Income

by October 18, 2024
October 18, 2024
The Pros and Cons of a Universal Basic Income

Jeffrey Miron

Proposals to adopt a universal basic income (UBI) raise three questions.

The first is whether a UBI should add to or replace the existing safety net. Adding the program is a nonstarter because the current US fiscal path is already unsustainable.

The second question is whether a UBI would be better than the existing safety set, holding expenditure constant. The answer is probably yes: eliminating TANF, SNAP, Social Security, Medicaid, Medicare, disability insurance, energy assistance, housing subsidies, and more would mean a huge reduction in bureaucracy and a less paternalistic system.

Replacing the current system with a UBI also facilitates the repeal of policies that attempt to redistribute by interfering with the price system (minimum wage laws, rent control, anti-price gouging laws, and more). These policies are often poorly targeted and even counterproductive.

The third question is whether a UBI should be a federal program or left to individual states.

Advocates of anti-poverty spending assume it should be federal, believing the state-by-state approach generates a “race to the bottom.”

Government programs, however, almost always expand, so competition between states plausibly promotes a reasonable balance. Many states redistribute beyond what the federal government mandates; California and Washington, for example, have minimum wages higher than the federal requirement.

Eliminating all federal redistribution, while allowing states to operate UBI programs, thus implies a smaller, less distorting safety net that would still protect the most vulnerable. 

This article appeared on Substack on October 18, 2024. Amelia Heller, a student at Harvard University, co-authored the piece.

0
FacebookTwitterGoogle +Pinterest
previous post
Tennessee Auctioneers Make a Bid for Free Speech
next post
Using RRG To Find Best Three Stocks inside the DJ Industrials Index

You may also like

With $34 Trillion in Debt, House Budget Committee...

January 18, 2024

The Fed’s Questionable CBDC Campaign

June 12, 2023

The Costs of Mask Mandates

September 9, 2024

Social Security at 89: Time to Retire the...

August 14, 2024

Will Vermont Be the Next State to Permit...

May 2, 2024

VP Picks for Kamala Harris

July 24, 2024

Don’t Reward the Government for Hiding Constitutional Violations

March 21, 2024

No Need to Race to the Bottom with...

February 12, 2024

Friday Feature: PASS Network and PASS Pod

February 14, 2025

Why Can Dogs, but Not Humans, Get Vaccinated...

July 25, 2023

With $34 Trillion in Debt, House Budget Committee...

January 18, 2024

The Fed’s Questionable CBDC Campaign

June 12, 2023

The Costs of Mask Mandates

September 9, 2024

Social Security at 89: Time to Retire the...

August 14, 2024

Will Vermont Be the Next State to Permit...

May 2, 2024

VP Picks for Kamala Harris

July 24, 2024

Don’t Reward the Government for Hiding Constitutional Violations

March 21, 2024

No Need to Race to the Bottom with...

February 12, 2024

Friday Feature: PASS Network and PASS Pod

February 14, 2025

Why Can Dogs, but Not Humans, Get Vaccinated...

July 25, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Bondi under siege after DOJ reveals no Epstein client list

      July 7, 2025
    • Over 158 million Americans voted in 2024 as Trump reclaimed the White House

      July 7, 2025
    • US ends terrorist designation of Syrian militant leaders

      July 7, 2025
    • Haitian Immigrants Have a Low Incarceration Rate

      July 7, 2025
    • Sen. Steve Daines says regime change is the best long-term plan in Iran

      July 7, 2025
    • Biden aides pushed for early debate to show off Biden’s ‘strength,’ expose Trump’s ‘weakness,’ book says

      July 7, 2025

    Categories

    • Business (8,409)
    • Investing (2,105)
    • Politics (15,957)
    • Stocks (3,192)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved