I personally would support UBI (Universal Basic Income) as a TEMPORARY system during this pandemic. You’ve got tons of people who literally just lost their jobs with almost zero possibility of finding new work as long as these bans are in place.
What I worry though is that the longer this stays, the opposition to removing UBI will get greater and greater to the point that it stays permanently. Look at repealing Obama Care, at first every Republican was for totally removing it. Then a few years later it became repeal and REPLACE (still doing healthcare reform). Then that didn’t even happen and now we’re stuck with it.
If we’re going to implement this UBI through legislation, there must be language in the bill that requires that it will end once the pandemic ends and the bans are lifted. Long term UBI combined with the bailouts and existing welfare systems would be completely unsustainable.
Not really, because a lot of people aren't on a payroll. Freelance workers, construction/home improvement contractors, people who rely on rental income from a handful of residential properties, really a whole lot of people who aren't receiving any kind of regular paycheck, or are relying on other types of irregular income for a significant part of what they need to get by on.
Just get the cash out to everyone fast, so everyone can eat and keep their basic utilities on. Those who don't really need it will either give it to those who do, or put it back into the economy one way or another (by buying things, or keeping more money in savings and investments).
Fair point.
Thanks Pede!