• @cqst
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    2 months ago

    Universal Basic Income reduced child poverty by 30%.

    https://en.wikipedia.org/wiki/Child_tax_credit#United_States

    By making the child tax credit non-refundable it is effectively a Negative Income Tax which is a form of UBI.

    ‘Additional housing fixes the rent problem. UBI puts a temporary bandaid on it. Universal healthcare fixes the medical expenses problem, strong unionization fixes the wages problem. Don’t get me wrong I’d love the paycheck, but it isn’t the solution people think it is.’

    All of your points misunderstand what the goal of UBI is. By guaranteeing that everyone earns a certain amount of income, the government is garaunteeing a basic standard of living. So a CTC of $3600 means that everyone is guaranteeed an income of at least $3600.

    At first, there will be an inital raise in prices as a UBI will likely increases aggregate demand which will increase prices, but eventually prices would stabilize.

    Of course, this only helps people with children right now, and there are barriers to filing a tax return in the United States. But the laws could be change to expand the credit, and it’s completely possible for the United States to implement return free filing.