This post is a response to the question "In your opinion, what are the biggest pros and cons of a universal basic income?" posed by @julie.blank14.
A benefit of universal basic income is the sense of security it provides. As demonstrated in the film Charlie and the Chocolate Factory, the possibility of human labor being replaced by artificial intelligence can be a daunting idea. This fear is further embedded by its ever-increasing reality. With universal basic income, it's taking that hypothetical future into account and planning for it, so humans aren't financially destroyed and by proxy the economy. There has been much thought put into the concept of universal basic income, but not enough. It can be romanticized to such an extent that the source of these funds is not considered. The United States is already in trillions of debt, surpassing every other country in the world. It seems improbable for a country who is in immense debt to provide billions of dollars every month to the entire U.S. population. One can rationally question where this money would be coming from, giving that the U.S. wouldn't be earning much in terms of taxes but would be spending even more while still in debt. Another detriment of universal basic income is the potential unfairness of it. It is a common saying that life is not fair, but oftentimes that phrase is forgotten when the unfairness is personal. Many people could become upset if Elon Musk or Jeff Bezos is receiving the same amount of money each month as they are. This in turn could cause mass outrage and civil unrest. Not only could universal basic income pose these physical implications, but it could be mentally damaging as well. It has become basic human nature to derive purpose from labor. According to a study, calls to suicide hotlines went up 800% during the start of the pandemic. (CDC) This could be attributed to the lack of purpose adults felt when they weren't working or became unemployed. Universal basic income has potential, but before excitement arises, it is crucial to consider every aspect before executing it.
Image Source
Sort: Trending