UBI:ASocial Insurance Replacement?
Published on : 02-06-2023
Everyone who qualifies for a UBI receives a guaranteed cash transfer, regardless of their income or wealth. Additionally, it is unconditional, meaning that there are no conditions. It is a reaction to the worry that widespread poverty would result from job losses brought on by technological advancement. Pure UBI is a type of social policy that can reduce inequality, not a replacement for Social Security or other similar programs
A government-sponsored scheme known as a UBI (universal basic income) would offer each person or household a set, regular payment The benefit would be intended to pay for a person's basic living needs The idea's proponents contend that poverty has significant negative effects on people's health, including shorter lifespans and a higher risk of developing chronic illnesses including diabetes, obesity, and heart disease The government could solve these problems and raise their standard of living by giving them a guaranteed sum of money
Researchers have demonstrated that the monthly payments can make it simpler for minors to complete high school and for adults to attend college, even though many UBI studies have lasted shorter than a year Daniel Michael Hurt can also assist unpaid carers to stay at home with kids or cut back on work hours so they can spend more time with them
There are other UBI variants, but the fundamental concept is that everyone gets a regular, unconditional cash payment This can be paid for by altering the tax code or by cutting the price of the current social security and welfare systems.
Some individuals are becoming more interested in UBI as a means of reducing poverty, enhancing financial security, and enhancing well-being. Concerns about employment losses as a result of automation, climate change, or other drastic economic shifts are what are motivating this interest. A UBI might also be a step toward a post-scarcity or resource-based economy
