Universal Basic Income Explained – Free Money for Everybody? UBI

What if the state covered your cost of living Would you like to go to work? Going back to school? Not working at all? What would you do? This principle is called UBI And it is nothing but the most ambitious social policy of our time In 2017 UBI spread and gained worldwide fame Many countries have tried it, and other countries have paved their way to it, and many countries consider it as an alternative to recovery How it works? What are the main arguments for and against? Currently, people are not in agreement about what global basic income should be, or what it should be Some believe that it is to eliminate luxury and revitalize and consolidate bureaucracy Others want it as an addition to covering their needs, or even for work to be optional In this video we will talk about basic minimum income Have enough money to be above the poverty line In the United States the basic minimum income is $ 1,000 a month or $ 12,000 a year This income is tax free and you can do whatever you want with it In this case UBI works to distribute wealth While keeping the market free of taxes But if we distribute the money for free, does the individual spend it on trifles and quit his job? In 2013 a study was conducted by the World Bank To see if the poor spend money on tobacco and alcohol if given cash to them The answer is no, the opposite is true Other studies confirm that the greater your wealth, the more you consume drugs, alcohol and tobacco The drunk homeless you see is a stereotype, not a reality What about laziness? Experiments on UBI in Canada proved that in the 1970s it was about 1% of recipients stopped working, often to look after their children On average, recipient people's working hours are decreasing by about less than 10%.

The extra time was used to achieve goals such as studying or looking for a better job. But if laziness and drugs are not a problem, why does our social condition not solve the problem of poverty? Often, welfare or unemployment programs come with many conditions attached, such as participation in courses Apply for a certain number of jobs per month or accept any job offer of any kind If it is a good fit or what pays you In addition to depriving freedom, these conditions are designed to make unemployment statistics look less bad as well as a waste of time and energy. It is better that you spend your time searching for a suitable job Finish your studies, or start a project on your own Another unwanted side effect of many social welfare programs is that they lock people into poverty and encourage negative behavior Imagine earning $ 1,000 a month, In many anti-unemployment programs, if you earn one extra dollar it will be enough to lose everything If you work a job for $ 1,200 a month, you probably won't just lose your earnings But because of the taxes and your other expenses such as transportation You end up with less money than before This means that if you try to improve your situation or your total income, it is not improving but rather decreasing Social welfare can create a ceiling that traps people in poverty And it encourages negative behavior You can never lower your basic income and thus have a job and additional income that will always make your financial situation better Work is always rewarded.

Instead of a ceiling it creates a floor enabling people to lift themselves But if UBI is the best, is it economically viable? What about inflation? Prices will go up, making everything just as before Since the money is not made by magic, nor by printing machines, this means that it has to come from somewhere This is more like transferring money to it than making new money So it will not get inflated Okay, but how do we pay for it? There is no correct answer to this question due to the differences What is the state of the country, and what are the local values Are high taxes or cuts in the defense budget politically acceptable, or not? Is there an unemployment system in the country and is it effective? Every country has its own path to UBI The easiest way to implement UBI is to end all forms of luxury and use free money to fund it Not only will this lead to the disappearance of a number of government agencies, which in and of themselves provide money, it will also eliminate the bureaucracy.

On the other hand cutting them off can leave many people worse than before If the goal is for everyone to have a financial basis, other programs of some kind are still needed Because people are just as different from each other as countries The second way is to impose high taxes, especially on the wealthy In the United States, for example, there has been substantial economic growth, but most of the profits have gone to a minority of the rich The wealth gap is expanding rapidly Many agree that it is time to distribute the spoilers evenly to preserve social peace There could be taxes on transaction capital, land area value, carbon, or even robots But UBI isn't necessarily prohibitively expensive According to a recent study The UBI is worth $ 1,000 a month in the United States You can grow GDP by 12% over 8 years Because it will enable the poor to spend more money and thereby increase the overall demand What about people who do simple work? Those who work in agriculture and crawl in the sewers or carry the piano If you don't need to make an effort to survive, will people still do the hard, boring, tedious work? UBI may offer them the possibility to request better pay and better working conditions A study confirmed that every extra dollar of wage earners will increase the global economy by $ 1.21 For every extra dollar that goes to high-income Americans, the economy will only increase by 39 cents The poor and the rich will still exist But we can eliminate the fear, suffering and great panic of the presence in a relatively large part of the population Improving the situation of the poor may be an effective economic scheme For some, that's not enough, they just want UBI to be huge enough to be a middle-class player Putting aside the financial obstacle, this idea challenges how to build our society By gaining money, you become a part of society.

This determines your condition and your options in this life But it also forces a lot of people to spend a lot and a lot of their time on things that they don't care about In 2016, only 33% of American workers were employed 16% were bad at engaging and the remaining 51% were only physically present Would 67% of people stop working if they could? It would be unfair to portray work as a chore just to keep us busy This motivates us to improve more and forces us to engage Many find friends or business partners. We work for social wealth and our place in the world We are looking for something to do with our lives and for many people work gives meaning to their lives There are other interests with the UBI If social welfare programs are exchanged with a single payment, this gives the government a lot of leverage and power Single programs are much easier to attack or intercept than multiple programs Or the populists promised radical changes to the UBI to come to power And a universal basic income does not address all problems in terms of equality Rent, for example While $ 1000 may be ideal in the countryside, it is not expensive in urban areas To become more extreme Certainly some see the principle of work as not essential to life as a matter of concern Conclusion So is UBI a good idea? Honestly, we don't know the correct answer yet There should be more research and studies and bigger and more experiments We have to think about what kind of UBI we want and go along with us and what we are willing to sacrifice for.

The capabilities and capabilities are very large and may be the best solution to eradicating poverty in the long run It might lower a large amount of despair in the world and make us less anxious Making this video was possible thanks to you This video is provided by you, our viewers Ten thousand people around the world provide us with a monthly income through patreon.com/course cos art You enable us to pay wages, buy new equipment, and make new videos And you enable us to spend more time making them This channel would not be what it is now without your help You help us remain independent and liberal and give us the freedom to prefer quality over quantity Thank you so much Translated by Elhadi Houheche, Yacine BJ, and Kha Dra.

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