It is no surprise that a
universal basic income initiative is gaining traction in Finland; the country
is known for being “one of the world’s best functioning welfare states.”[1]
The plan would get rid of the tax-funded benefits Finnish citizens receive and
instead provide each adult with a basic income of about $866.
A universal basic income receives
both extensive support and doubt. Those who advocate in favor of an income guarantee
cite the small town of Manitoba in Canada as a real-life, successful example of
how the program can mitigate economic disparity. By providing a monthly stipend
to the town’s poor residents over a four-year period, the Canadian government
was able reduce doctor and hospital visits, improve mental health, and increase
graduation rates.[2] And
despite critic’s concerns that the program would provide incentive for people
to not join the work force, there showed no signs it actually did so.
However, Manitoba is a very small
town and the experiment took place decades ago in the 1970s. Implementing a national
program like this in the United States would be a tremendous project, but it’s
an idea that gaining rapid popularity. The most surprising element of the
rising trend, according to a Vice report, is that support for universal basic
income is gaining support not only from the left, but from the right’s
libertarian groups as well.[3]
Even support
from the technology sector and Silicon Valley for such a plan is expanding.
It may be a while before it’s a
mainstream discussion among constituents, the movement is still gaining
momentum and interest. New experiments are popping up such as the San Francisco
start-up My Basic Income to test
whether such a program could work. The mission of the organization is to “create
a world of universal prosperity and innovation, by ensuring basic income and
security.” My Basic Income does this through a sweepstakes that provides the
winner with a $15,000 base income to spend however they want. By doing so, they
are cautiously advocating for Basic Income by testing its success. Their goal
is to measure impact and gather data to understand economic freedom and
economic insecurity.
Is a basic income the best method to solve economic disparity? That’s what makes new experiments like My Basic Income so
important. It provides an informative and practical insight into a simple
solution that can have drastic economic impact. Could it really solve the issue
of economic disparity once and for all? Given the number of barriers and
backlash such a program could receive in the United States, this data can be
crucial to answering that question. More programs should be implemented to test
the strength of a Universal Basic Income system as the trends point toward it
being a mainstream topic in America politics in the next few years.
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