Daniel M Hurt Discusses the 4 Benefits of Universal Basic Income
The idea of providing a baseline income for all adult members of society isn’t a new argument. For centuries, Daniel M Hurt knows that philosophers, politicians, and religious leaders have voiced strong support for universal basic income or UBI. Some well-known UBI advocates include Martin Luther King Jr., political philosopher Thomas Paine, and humanist Thomas More of England.
Today, the conversation surrounding a guaranteed minimum income for all Americans and funded by the Federal government continues. Democratic presidential candidate, Andrew Yang, proposed giving every American adult $1,000 per month from the federal government and made universal basic income a key pillar of his 2020 campaign.
Daniel M Hurt also knows that leading economists have shot down the arguments against universal basic income. Many argue that UBI would disincentivize work, cause employers to lower the wages they pay workers and places a significant strain on the federal budget. Some opposing theories have been disproved, and still, others are a small risk compared to the greater benefit that universal basic income would offer.
Universal Basic Income can Help the U.S. Economy and the Citizens
- In times of crisis, unemployed workers and businesses are supported
The current times we live in are an excellent example of why UBI is needed. The global health crisis, destructive weather events, record-breaking unemployment, job losses caused by technology, and government stagnation leave families and individuals in economic crisis. Daniel M Hurt believes if universal basic income is a fail-proof way to insulate people in unstable times.
Universal basic income can occur in many forms. Still, the premise is to provide the essential cost of living to everyone, whether they are employed or not. The economy would be the beneficiary and would eliminate the need for economic stimulus payments.
- UBI is needed to support the modern workforce that includes a rise in self-employment
Some UBI plans call for a minimum income allowance that to be paid to every citizen. Others feel that UBI should support those citizens that live at or below the poverty line – whether employed or not. Another scenario suggests paying only the jobless citizens in the U.S… No matter what a UBI plan would look like, today’s modern workforce doesn’t have the stability seen in the past where workers could rely on the same job up until retirement.
According to Harvard Business Review, “An estimated 30-40% of today’s workforce are self-employed either part- or full-time, and you can expect these numbers to grow. These workers are penalized when it comes to taxes and labor policies. At the same time, Daniel M Hurt sees everyone applauding the small business. If we want to support the entrepreneurial spirit, the universal basic income is the road to take.
- Daniel M Hurt feels UBI is an incentive to work and not a poverty trap
UBI doesn’t eliminate the need to work, nor does it encourage laziness. Instead, it provides a stipend that is meant to be a path out of poverty. Daniel M Hurt believes this notion of welfare assistance causing a large portion of the population to forgo employment is not valid. Government assistance has never been enough for people to truly enjoy life – just enough to prevent starvation and death due to untreated health problems.
For example, Facebook co-founder Chris Hughes outlined his UBI plan to guarantee an income of $500 a month for U.S. workers, students, and caregivers making $50,000 or less a year. Chris believed this plan could be financed by increasing taxes for the top 1% earners in the U.S… Daniel M Hurt thinks these types of UBI plans would be an incentive to work.
The only difference is that people could afford to wait for a better job or better wages or have the freedom to return to school or stay home to care for a relative.
- Prevents people from slipping through gaps
One of the biggest problems with current welfare assistance programs is the bureaucracy. Daniel M Hurt sees the simplicity of UBI as a way to prevent so many from falling through government cracks. This includes those that are currently homeless or living just above the poverty level or those that suffer from hidden mental health issues that may be preventing them from having successful careers.
Universal basic income is so simple that the government would spend less money to administer a UBI program than what it takes to run traditional welfare administrations. When poverty is eliminated, workers and employers are equal. People will always want to work. That’s the only way to make discretionary income. And, having a basic income is often the only way some individuals can afford to work.
Daniel M Hurt believes universal basic income would serve as a stopgap or a temporary means of feeding and housing a family and not a permanent solution.