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UBI and Political Affiliation:
According to the definitions of libertarianism, conservatism, progressivism, communism, and socialism given by Dr. Trost in this talk, I would describe myself as a Libertarian in ideology and a Progressive in practicality. In other words, I deeply value liberty and freedom for all Americans as well as limited government, but I realize that the government is a useful tool in accomplishing these things if they are carried out in the proper way.
I did some research into the public opinion of Universal Basic Income, and I found that Republicans, a party often characterized by being pro-freedom is mostly opposed to Universal Basic Income being instituted in the United States. In a Pew Research Poll conducted in July and August of 2020 (link at the end of this post), respondents were asked about their standing on the federal government providing adult citizens of the United States with a Universal Basic Income of about $1,000 per month. According to the poll’s results, 62% of respondents who identified themselves as a Republican or a Republican-leaning independent were strongly opposed to such a program. In addition, 16% were somewhat opposed, 12% were somewhat in favor, and 10% were strongly in favor. As one might expect, those who identify as Democrat or Democrat leaning were overall in favor of Universal Basic Income.
I agree with Dr. Trost’s stance that Universal Basic Income has facets that should appeal to not only Republicans and Democrats but also to a number of different political divisions in America. Because of this, I think Universal Basic Income is a great opportunity to break down those divisions and open the door to more bipartisan discourse in the future.
UBI and Minimum Wage:
I agreed with many of the points Dr. Trost made about Universal Basic Income, but I found one point that I agreed with to be particularly interesting. Under Dr. Trost’s proposed plan, any minimum wage restrictions would be eliminated. He specifically said that with no minimum wage, new opportunities will open up for extremely low-skilled individuals. This point interested me because I have never thought about minimum wage in this way. I have heard people say that extremely low-skilled individuals should not earn minimum wage as an argument against raising the minimum wage, and I found it difficult to refute that statement. Because of this, I think that the abolishing of minimum wage in favor of wages that are directly based on the skills of the individual is a fantastic idea. This change would allow for low-skill workers to gain experience and skills in the workforce in order to advance their career while earning an income that hopefully encourages them to want to earn more money.
UBI and Children:
In the Q&A section of the video, a student suggested that Universal Basic Income would encourage couples to have kids later in life, but I do not agree with that suggestion. In my mind, Universal Basic Income would encourage couples to have kids sooner because the high cost of raising children is mostly offset. I feel like the biggest contributing factor to newly married couples deciding to wait to have kids is financial or occupational security. If every United States citizen receives some level of Universal Basic Income, then security should be less of a worry. Therefore, from my perspective as an engaged young adult, I believe that Universal Basic Income would provide a greater sense of the security desired by couples hoping to have kids. Also, included in Dr. Trost’s list of arguments against Universal Basic Income was that it would serve as motivation for people to have more children. However, I would hope that the plan for Universal Basic Income is adjusted for children in such a way that this does not play a role in anyone’s decision to have kids.
UBI and Freedom:
I quite liked the emphasis Dr. Trost placed on the freedom that comes along with Universal Basic Income. It gives people the ability to leave any unsavory circumstances they may be in. It gives people the ability to chase after their dreams. It gives people the ability to pursue better educational opportunities.
I thought Dr. Trost’s response to the student who asked about the impact of Universal Basic Income intriguing. I am now very curious to see how charity would change if Universal Basic Income was implemented. I would hope that Americans are still inclined to donate to charities, because I think that the existence of Universal Basic Income would only allow charities to make a greater impact in their communities as well as a greater impact around the world.
Another way I think Universal Basic Income promotes freedom is that I feel it would reduce the number of college students pursuing degrees solely for the purpose of making a lot of money. I have heard many stories of students who choose their field of study only because of money, and they are rarely happy people. Thus, I feel like if college students are given a financial safety net that they will feel more comfortable to pursue their passions instead of money.
UBI and Competition:
One clear benefit of Universal Basic Income is that it promotes healthy competition in many sectors of society that affect the daily lives of all Americans. If all families have the ability to move to whatever school district they want their children to attend, then schools will be forced to make positive changes to attract students and families because they will be competing against other schools for the first time. If blue collar workers do not always have to be employed because of the safety net provided by Universal Basic Income, then companies will be forced to make positive changes to attract workers because they will be competing against more companies. If every American with a business idea has the capital available to fund that idea or fall back on if it fails, then the business world will sprout with positive competition among a host of new entrepreneurs. All in all, I believe Universal Basic Income will promote healthy competition in many areas that will in turn help to boost education, employment, and the economy in the United States.
Concluding Questions:
To conclude, I would like to field a few questions that came to my mind while watching Dr. Trost’s lecture and writing this post.
If the goal of Universal Basic Income is to be enough to cover basic needs, how do we determine how much money is enough?
If the payout is determined by the GDP of the United States in the last fiscal year, how do we protect against extreme variation in GDP? What factors influence GDP? Is it too malleable?
How do we ensure that all United States citizens know about and have access to Universal Basic Income? What about citizens without bank accounts/debit cards? What about citizens who never received proper education about managing finances? What about homeless people without permanent addresses?
If children born into United States citizenship receive Universal Basic Income, does it go to their parent/guardian? For how long? What about kids in the foster care system? Do legal guardians get to spend their children’s Universal Basic Income however they wish?
Link to Pew Research Poll: https://www.pewresearch.org/fact-tank/2020/08/19/more-americans-oppose-than-favor-the-government-providing-a-universal-basic-income-for-all-adult-citizens/