Max Sawicky on why basic income programs are NOT the solution for poverty
Max Sawicky's blog was among the best, by progressive economists, and I still miss his posts. So here is a treat from the Next New Deal Blog.
With the coming referendum in Switzerland has come a flurry of commentary about a “Universal Basic Income” (UBI). There are some strange bedfellows from left and right are saying nice things about it. I suggest that it can be a distraction from more important things.Read the whole post here.
If you don’t have time to read this, just consider that a payment of $10,000 to every U.S. adult, a pretty basic basic income, would cost $2.5 trillion. Game over.