OTTAWA - The government's fiscal watchdog says a guaranteed basic income program at the federal level could cut poverty rates in Canada by up to 40 per cent.
The Roosevelt Institute did a study 15+ years ago that showed UBI only creates growth if the money is entirely funded through the creation of debt. You cannot create growth in an economy that utilizes UBI for the UBI itself unless the money falls from the sky and you need a griwing economy to fund an entitlement program like UBI.
It makes more sense to target those that need the money than give everyone money.
Edit: “ For all three designs, enacting a UBI and paying for it by increasing the federal debt would grow the economy”
The above is from the cited paper. There’s zero growth if you fund it through taxes and only growth if you fund it through debt. As increased debt payments require more of the budget to pay back said debt year to year after time the ability to provide UBI is threatened. UBI is not a long term solution.
The Roosevelt Institute did a study 15+ years ago that showed UBI only creates growth if the money is entirely funded through the creation of debt. You cannot create growth in an economy that utilizes UBI for the UBI itself unless the money falls from the sky and you need a griwing economy to fund an entitlement program like UBI.
It makes more sense to target those that need the money than give everyone money.
Edit: “ For all three designs, enacting a UBI and paying for it by increasing the federal debt would grow the economy”
The above is from the cited paper. There’s zero growth if you fund it through taxes and only growth if you fund it through debt. As increased debt payments require more of the budget to pay back said debt year to year after time the ability to provide UBI is threatened. UBI is not a long term solution.