Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Some of the presidential candidates have proposed a Universal Basic Income (UBI) policy in which every person is paid a moderate amount of money on

Some of the presidential candidates have proposed a Universal Basic Income (UBI) policy in which every person is paid a moderate amount of money on a regular basis.The main goals of the policy are to improve the lives of low-income people and to provide a financial safety net for people who face unexpected expenses.This policy is not a new idea, and there are many ways to formulate the details of the program.In general, the proposed payment would be issued to everyone (regardless of income or wealth) to reduced the administrative costs of means testing and to enhance fairness.Also, cash payments without restrictions on how they are spent are more economically efficient than payments that are restricted to particular uses (e.g., food stamps, rent supplements, etc.).In contrast, critics note that UBI would be very expensive, and unrestricted payments may raise the cost of living for recipients (i.e., housing rents and other costs may rise) and may be spent in undesirable ways.

Suppose one of these presidential candidates is elected, and their UBI policy is adopted by Congress.The UBI payment will be$1,000 per month, and the payment will be issued to all US citizens, permanent residents, andlegal guest workers and their immediate family members (H-visa holders).Do you think everyone should receive the payments, or should they be limited to lower-income residents?Do you think the UBI payments would have a substantial positive impact on the lives of recipients?Do you think these payments would be bid into rents and other housing costs so that the net impact of the payments is much smaller than intended?

Refer Chapter 12 Poland: A Success Story of Economic Transition? from Rosser,J. B., & Rosser, M. V. (2018).Comparative economics in a transforming world economy(3rd ed., Ser. 18). Cambridge (Massachusetts): The MIT Press.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How China Became Capitalist

Authors: Ronald Coase, Ning Wang

1st Edition

1137351438, 9781137351432

More Books

Students also viewed these Economics questions

Question

How can program code be reused?

Answered: 1 week ago

Question

Discuss the criteria for make or buy. AppendixLO1

Answered: 1 week ago

Question

4. Similarity (representativeness).

Answered: 1 week ago