Why do we even need UBI?
April 18, 2019
The automation wave, job losses, and extensive costs facing Americans need to be addressed.
Four million manufacturing workers have already lost their jobs to automation. This trend is only projected to continue; in the next 12 years, one in three working Americans will suffer the same fate.
A 2016 report published by the Obama Administration predicted that 83 percent of jobs paying under 20 dollars per hour will be subject to automation.
The U.S. is starting 100,000 fewer businesses per year than it was 12 years ago.
A 2017 Bankrate survey found that 59 percent of Americans lack the savings to afford an unexpected 500-dollar expense.
UBI is projected to permanently expand the economy by 12.56 to 13.1 percent.
The Roosevelt Institute’s research found that Yang’s UBI would add 2.5 trillion dollars to the economy in eight years. It would also bring 4.5 to 4.7 million more workers into the labor force.
UBI would help U.S. citizens start new businesses, go back to school, and provide for transitional costs as we face the automation wave.
An additional income will only advance the American people. It will …
- Alleviate student loan burden: If you’re going to college, you’re probably going to be in debt. 1000 dollars per month definitely isn’t going to hurt.
- Bring more people into the workforce: When people start working, they often lose unemployment benefits, leaving them worse off than when they started. UBI is just enough to meet basic needs while encouraging workers to find new jobs.
- Help entrepreneurs: UBI would act as a safety net for young entrepreneurs, giving them leeway to build their business.
- Support those in creative/nonprofit workplaces: Those who are most necessary in communities are often undervalued when it comes to compensation, leading them away from essential work in our communities. UBI will help address their needs, allowing them to safely pursue lower-paying careers.