UDC Wealth Inequality Response Discussion

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tynqlybir

Humanities

University of the District of Columbia

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Write at least 2 paragraph and provide citation. Topic. Universal Basic Income • Research the concept of Universal Basic Income (UBI). • Do you believe UBI can help reduce global inequality? Be very detailed in your reasoning and response (e.g.; provide citations and examples). Response to the student article at least 8-10 sentences. Hello X, • • • • • According to Drexel University, Universal Basic Income (UBI) "is a government program that aims to address economic inequality and provide economic security through monthly direct cash transfers to every member of a community with no means testing" ("Universal basic income," 2021). The desired result is to give everyone basic income regardless of their own income. Well, if everyone is getting money won't prices just inflate? Drexel University states that "benefits are reviewed on a quarterly basis to ensure recipients are receiving the appropriate amount and are responsive to inflation and cost of living increases" ("Universal basic income," 2021). I'm not an expert on how all of the politics behind UBI works, but I'm sure there would be ways to accommodate as things change around us. I do think that UBI can help reduce global inequality if done correctly. Many people lost their jobs during the pandemic and had to recieve government assistance with uneployment and/or rental assistance. I know that many people heavily relied on whatever could help them out during those times, and UBI would help continue to mitigate economic inequalities through providing funds for everyone. There are also some pilot programs that are already showing the positive impact UBI could have in places like Africa, Asia, and even North America. These positive impacts include better education outcomes, improvement in health (physical and psychological), greater child health outcomes, etc. I'm sure there are a lot of opinions on UBI's potential effects on the job market, taxes, and what have you. I'd like to know more about both sides so feel free to share! References Universal basic income: Key to reducing food insecurity and improving health. Drexel University. (2021). Retrieved November 30, 2021, from https://drexel.edu/hunger-freecenter/research/briefs-and-reports/universal-basic-income/.
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Response
Using UBI to reduce inequality is a great idea. However, as you note, it has to be done
correctly. There should be consideration of the best way to address the inequality without a
significant toll on the economy. The precarious situation brought about by COVID also showed
how vulnerable most people in the world are. The sustainability of the UBI program is also
another critical point of interest. There is also the matter of inflation which we should be
concerned about. Therefore, it is necessary to carry out an analysis on the best approach. Several
countries have experimented with a form of income for the poor to su...


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