Image Source
Question: What is Universal basic income? @dylangrimes00/week-12-universal-basic-income
UBI is also known as universal basic income, and it is a government-guaranteed payment for each citizen to earn. It can also be called the income for citizens/basic income and making sure there is a minimum income. It happens because the government wants the citizens to be able to afford living so making a payment to the citizens to afford the cost of living. That is of course different for each state. California the cost of living is high and in Oklahoma it is very low. Many people get this confused with other government funding, but this also helps when people lose their jobs. Last week we covered artificial intelligence, and this is a big reason why people are losing their jobs. They get money so they can still afford to live in their house, pay for food, just have some sort of financial security. You can think of it as social security for younger people. Every month they receive a payment depending on where they live and how many people, they have to take care of. No matter if they have a job, they will still receive the payment. A long time ago poverty in the US was very high, it still is today, but Martin Luther King Jr. fought to have universal basic income to help end poverty in the United States. People wonder where this money comes from, well the reason we have taxes is to collect small amounts of money over long periods of time. The money can be used where the government decides. There are many good things about UBI. One example is economic stability during recessions because we have seen what happens during tough times. It can be scary and it have some comfort in the economy will make more people sleep at night.
