Universal Basic Income would transform society in many positive ways and evidence shows this. Trials have led to all kinds of benefits—some expected, some surprising. Here are just a few of them:
- UBI encourages people to find work. Many current welfare programs take away benefits when recipients find work, sometimes leaving them financially worse off than before they were employed. UBI is for all adults, regardless of employment status, so recipients are free to seek additional income, which most everyone does.
- UBI reduces bureaucracy—with no-strings-attached coverage, determining who is eligible is far simpler and the cost of administering benefits is greatly reduced.
- UBI increases bargaining power for workers because a guaranteed, unconditional income gives them leverage to say no to exploitative wages and abusive working conditions. Employers can’t push workers around as much.
- UBI increases entrepreneurship because it provides for basic needs in the early lean days of a company and acts as a safety net if the business fails. It also gives you more consumers to sell to because everyone has more disposable income. The Roosevelt Institute found that a UBI would create 4.6 million jobs and grow the economy by 12 percent continuously. UBI would be the greatest catalyst for new jobs, entrepreneurship, and creativity we have ever seen.
- UBI improves the mental health of recipients because it reduces conditions of scarcity, poverty, and financial insecurity, major sources of stress for millions of people.
- UBI helps people make smarter decisions. Studies have shown that people in straits of economic insecurity have a reduced cognitive ability equal to 13 IQ points. UBI would provide the security people need to focus on important things like their families.
- UBI improves physical health. With increased economic security, people are less prone to stresses, disease, and self-destructive behavior. A UBI experiment in Canada saw hospitalization rates go down 8.5%.
- UBI increases art production, nonprofit work and caring for loved ones because it provides a supplementary income for those interested in labor that isn’t supported by the market.
- UBI improves labor market efficiency because fewer workers are stuck in jobs that are a bad fit. National productivity will improve because people will be able to seek work that is more rewarding and promote higher job satisfaction.
- UBI improves relationships by reducing domestic violence, child abuse, financial stresses, and sources of conflict. It ensures that everyone has an optimistic sense of his or her own future and has the mobility to get out of abusive relationships.
It’s amazing what a steady source of money can do to transform people’s lives. We can experience it here in America if we adopt Universal Basic Income and make it real; we are the wealthiest and most technologically advanced society in human history. It’s time to invest in our people.
SOURCE: chick here