Many of us have recently received COVID relief checks, and while how you spend your money is your own choice, for those skeptical of government assistance, I suggest you consider who could truly benefit from such support. For parents, this relief package offers a glimpse into a universal basic income model, which has been tested successfully in other countries and is being recommended by the current administration. Beginning in July and continuing through December, parents of children under six will receive $300 monthly, while those with children under 18 will get $250 per child.
This initiative differs from the existing child tax credit as it specifically targets families in the lowest income brackets, who often lack the earnings to qualify for meaningful help. It’s important to note that this credit is based on earned income and taxes paid, excluding unemployment or public assistance.
Biden’s relief package isn’t the first exploration of providing “free money” to those in need. A notable experiment took place in Stockton, California, starting in February 2019, where 125 individuals received $500 a month without any conditions. Funded by philanthropic organizations, the Stockton Economic Empowerment Demonstration aimed to assist people with incomes below the average of $46,000 annually.
The results are now in, and researchers are keen to share their findings. Contrary to the assumptions of those unfamiliar with the struggles of poverty, participants did not become less motivated to work or squander their funds on vices. Instead, they paid bills, spent quality time with their families, and escaped harmful situations.
If you’ve experienced poverty, you understand that people find ways to acquire “temptation goods” regardless of assistance. Life in poverty is incredibly challenging, often intertwined with addiction and the necessity of juggling multiple jobs just to survive. While some may mismanage their finances, many prioritize their spending in ways that may not align with others’ expectations. Ultimately, it is not for anyone to dictate how individuals choose to use their money.
Data from the Stockton experiment reveals the immense value of stable income for those relying on unpredictable paychecks. The pandemic further highlighted the instability faced by gig workers, making it clear that consistent income can reduce stress and empower better decision-making. Recipients of the $500 monthly support reported less anxiety and improved their work situations, allowing them to transition from part-time to full-time positions.
Universal basic income does not foster laziness or discourage work; rather, it promotes better health outcomes. As Michael Turner, the former mayor of Stockton, stated, “Cash can be a more effective treatment for certain types of depression and anxiety than medication.” Many health issues stem from the stress associated with income instability and the inability to meet basic needs.
Several cities across the United States are exploring universal basic income programs, but to effectively address poverty nationwide, a federal approach is essential. Currently, 27 million children in the U.S., including a significant number of Black and Latino children, do not receive the full child tax credit due to low family incomes. If the provisions of Biden’s relief package were sustained, it could lift nearly 10 million children above the poverty line. The proposed tax credit would increase the maximum annual benefit to $3,600 for children under six and $3,000 for those aged six to 17, with payments distributed throughout the year to mitigate income volatility.
Your preconceived notions about “free money” or universal basic income may be misguided. The most effective way to assist those in need is to provide the resources they require; they do not need alternative suggestions or criticism. It’s worth noting that many wealthy individuals benefit from generational wealth and safety nets that allow them to thrive, often without questioning the source of their “earned” income.
Why should those with limited means be denied the opportunity to relax, spend time with family, take risks, and create pathways for improved well-being and financial stability? If your aim is to reduce reliance on welfare, investing in the means for individuals to rise above poverty is beneficial for everyone.
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In conclusion, universal basic income represents a viable approach to alleviating poverty and enhancing overall community well-being. By providing individuals and families with the financial support they need, we can foster healthier societies and create more equitable opportunities for all.
Keyphrase: Universal Basic Income
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