What is Universal Basic Income?

What is Universal Basic Income?

The concept of Universal Basic Income has received a lot of news coverage lately. Icons of industry like Richard Branson, Mark Zuckerberg and Elon Musk have all voiced their support for this “social-security-for-all” type system. With the increases in automation and technology, billionaires like Musk say Universal Basic Income will become “necessary” given the mass unemployment in the near future.  

Around the world, locations like Finland, Namibia and even Hawaii are experimenting with a form of basic income. Alaska has had a similar system for over 30 years where Alaskans receive an annual dividend payment … just for being Alaskans.

Since I’m all about educating myself in all things financial, I figured I would take a deep dive into Universal Basic Income. That way I can actually form a thorough opinion on this highly debated topic.


Related in Education:  These 5 Books Will Skyrocket Your Net Worth


To get that education process started, I invited Scott Santens to join us on the podcast. Scott is a writer and advocate for basic income. He’s the moderator for the highly active Basic Income Community on Reddit. Suffice to say, he knows a thing or two about the subject.

Scott Santens, Universal Basic Income Advocate
Scott Santens, Universal Basic Income Advocate

What are we covering today?

Scott and I chat about:

  • What Universal Basic Income is all about
  • Why he feels it would be a smart change for the US
  • The positive results from basic income experiments around the globe and in the US

If you’ve heard of Universal Basic Income, but don’t know all of the details, join me for today’s discussion. Educating ourselves when it comes to our taxes and government assistance programs like this will help us to be more informed Americans and better global citizens. As they say, knowledge is power.

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Show Resources

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Books on Universal Basic Income

Basic Income Reddit Page

Scott Santens Website

For a Balanced View on Universal Basic Income … 

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“The function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.” -Martin Luther King, Jr.


What are your thoughts on Universal Basic Income?


 

Author: Andy Hill

Andy Hill, a mid-30’s father of two living in the metro Detroit area, pens the MarriageKidsandMoney.com (MKM) blog taking you through the trials and tribulations of being a young parent and husband who is planning for his family’s future and winning with money.

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