Basic income would grow GDP by $2.5 trillion, study finds

Posted: September 2, 2017 in Uncategorized

Source: Basic income would grow GDP by $2.5 trillion, study finds – Business Insider

http://www.businessinsider.com

Sept 1, 2017

A monthly check of $1,000 delivered to every American adult would grow the US economy by roughly $2.5 trillion over eight years, a new study found.

Conducted by the left-leaning Roosevelt Institute, the study investigated three strategies for implementing basic income, a form of wealth distribution that involves giving everyone a standard salary just for being alive.

Proponents of basic income say it would reduce or even eliminate poverty, while skeptics say it could erase people’s motivations to keep working, possibly ruining the economy instead of improving it.

The three basic incomes proposed by the study were $1,000 paid monthly to every US adult; $500 paid monthly to every US adult; and $250 paid monthly to every US child. “For all three designs,” a summary of the report said, “enacting a UBI and paying for it by increasing the federal debt would grow the economy.”

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Basic income would grow GDP by $2.5 trillion, study finds – Business Insider

 

Source: Basic income would grow GDP by $2.5 trillion, study finds

Comments
  1. There are so many viable solutions to our economic woes. Basic income is a good one. People might feel less willing to work at a crumby job, but feeling useful is such an important factor to personal happiness. I don’t think people would become lazy about working – maybe more relaxed, and healthy, and able to pursue meaningful long-term goals, like education, creativity, public service in their spare time.

  2. […] Source: Basic income would grow GDP by $2.5 trillion, study finds […]

  3. I think this would give employers an incentive to pay workers more because if someone has a guaranteed income, they are more likely to change jobs if they are not being treated fairly. It would also make it easier for workers to attempt their own start-ups. Just my opinion.

  4. Excellent point, Shelby. They would have to pay them well and guarantee good working conditions. It also enables the US to get rid of their whole welfare bureaucracy because there’s no need to determine eligibility.

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