Universal Basic Income is a hypothetical system, one where each citizen receives a ‘paycheck’ from the Government, without having to have worked to earn the income. UBI, for short, is vastly supported in the United Kingdom and Canada, but not in the United States.
According to a new poll taken by Gallup which received ten thousand responses from the three countries, forty-three percent of Americans support UBI, while seventy-seven percent of the United Kingdom and seventy-five percent of Canadians support the idea.
The proposal for UBI is based on the rise of artificial intelligence. Further, according to research, fifty percent of all jobs across the world within the next decade will be automated, displacing thousands of employees around the globe.
Universal Basic Income is not a popular theory but has been endorsed by Democratic Presidential Candidate Andrew Yang and Business Leaders such as Mark Zuckerberg and Andrew Branson.
Also, UBI supporters were asked if they would be willing to pay higher taxes to fund said program. Among the supporters; seventy-five percent in the US, fifty-three percent in the UK and forty-nine percent in Canada said they would agree with raising taxes to support UBI.
However, universal basic income ‘test programs’ have already taken place in several locations around the world, one of which was Finland. Earlier this year, Finland abruptly ended the program. The findings of the said program are due to be released at the end of the year.
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UBI is essentially a welfare state and could create a society where the Government determines income and wealth based on nothing more than geography and trends for what families need to survive. The idea has flopped several times over but is a popular talking point among candidates for elections because, well free money. However, the consequences are steep for the said program.