from user: NoTime2Exp on imgflip.com
Universal Basic Income or USI is a heavily talked about subject in today's socioeconomic ecosystem. I feel like I mention Covid-19 a lot in my posts, but it affected a great deal of not only people and businesses but also policy and future policy, especially what the people expect from the policy. Universal income is one of those topics that has been more prevalent as people have a harder time earning money for basic needs such as food and housing. However, that isn't going to solve the inherent problem. but if a country truly wanted to incorporate a universal income, I'd think, it'd be possible, but not sustainable. It can exist within a capitalist system, however, it would be kinda redundant since there would also be tax. Not only that, it wouldn't give the incentive to innovate and diversify if you had a steady income. We can see this in practice right now with government aid for people affected by Covid-19. People get stimulus checks and aid, and it discourages them not to seeking out a new job. Look on campus, many campus dining options are struggling to stay open due to lack of workers, "Noodle U and Zest " have to share employees and Johnny Rockets straight up went out of business, it's just a demotivator. On the flipside communism and socialism, don't work out either. Their system is already focused more on government control of trade and enterprise, but now income, in a way, is also controlled by the government. There is a lot of potential for government corruption. Not only that but the lack of options, poor quality, and blandness. It doesn't make for happy people, nor does it stimulate a healthy working attitude within its people. Ultimately, there have to be incentives in place for UBI to work, it cannot exist without supporting legislature.