With the Democratic debate schedule set, Andrew Yang looks to be gaining fire over other candidates like Pete Buttigieg and kamala harris. In this Video I break down and start Answering Common Arguments Against Universal Basic Income
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Andrew Yang's UBI proposes every American over 18 gets $1000 dollars per month. After Andrew Yang's platform started to pick up momentum, there are some people who have brought up criticisms. Below I will be answering common misconceptions and questions about UBI
First Does UBI cause Inflation ?
No, increasing the amount of money in the economy can cause inflation. In 2008, the USA was risking inflation when they increased the money supply through printing 4 trillion dollars and pumping in the economy ( through tresury buy backs).
The Two biggest ways the Freedom Dividend is funding its 2.8 trillion dollar cost is a) the Vat Tax and b) opting in from Social Welfare programs
Any other money the government has to spend to fund UBI would not cause enough inflation to offset the $12k a year you are getting from the freedom dividend
Second Will UBI increase rent ?
No, a) many cities have rent have rent control
b) only Monopoly's where one person/company owns the whole market would have the power raise rent. This is because land lords operate in an open market, residents would simply pick the cheapest place to live leaving the overpriced apartments vacant
c) UBI may also decrease rent because people wouldn't have to move to expensive cities, because UBI would make a more "humble" hometown job more viable
Third Will People waste their money?
No, Lower income people who live pay check to pay check to handle all their bills spend a higher portion of there income on necessities compared to rich people. Yes they may buy additional cigarettes but most of their money will go straight back into the economy spurring more economic growth
Fourth Will People Stop Working?
No, Welfare programs desensitize work because once you make a certain amount of money, you no longer qualify. Lower income earners will be more likely to want to get a job and receive UBI because there income will drastically increase.
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