Do You Know What a U.B.I. Is?
If I asked you what the acronym U.B.I. stands for would you know what it is? I didn’t until recently reading a story about it and I am not in favor of it.
U.B.I. stands for universal basic income. U.B.I.’s basically are where citizens of a country receive income from a regular source typically from the Government. It is being considered as a plan to fix this country’s welfare system.
Recently, the Roosevelt Institute claimed that switching to a U.B.I. system could actually grow the economy by $2.5 trillion by the year 2025. Some people say this plan is too expensive and will force tax increases while others say higher payments to citizens will enhance the country’s economy.
Some also consider this to be an enhanced handout without any incentive to work. Others feel this plan would not eliminate our current welfare system and will only encourage it.
To me this wreaks of socialism. And I can’t support it. U.B.I. stands for Universal Basic Income, but it should stand for Unbelievable Bogus Idea!