THE IDEA OF CREATING A “UNIVERSAL BASIC INCOME” HAS ONE (ACTUALLY, TWO) PRETTY OBVIOUS FLAW(S)
At least one commentator, writing in Forbes, has pointed out the fundamental failing of “universal basic income” that I identified when I wrote about it several months ago. That commentator phrases it a little more nicely than I did, but the idea is the same. Once the proponents of this bad idea figure out that it won’t produce equal outcomes, they will want to fix that inequality by giving more to some people. When that happens, as the commentator in Forbes rightly concludes, the idea will fail.
If that’s not enough to convince you that this is a bad idea, consider the cost: according to the Forbes article, even after subtracting current welfare spending, universal basic income would increase federal spending by 50%.
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