UBI and The Pandemic
As the COVID-19 Pandemic continues to ravage the country, people are starting to clamor for an economic response. Is UBI the answer?
December 8, 2020
As the coronavirus continues to harm the economy and social well-being of the United States, people are beginning to clamor for an answer. Numerous businesses are closing, families are being torn apart, and millions are at risk of being evicted before the years end. The answer is simple, we need some sort of cash relief. The question is, is UBI the answer?
UBI, or Universal Basic Income, put simply is a theoretical governmental program where every single adult would be given a basic set income, most likely a thousand dollars, monthly. At a thousand a month, this would put lower income owners above the poverty line, and citizens would be able to use the money however they so please. This would give citizens the ability to keep their business’s lights on, and help people pay off their mortgages and rent.
In this tumultuous time, something like UBI is absolutely needed. We are seeing many small businesses crumble under the pressure of numerous COVID-19 regulations and safety protocols. UBI would provide them with money to help stave off having to close their doors.
Tenants and homeowners alike have been hit hard by COVID-19, as according to the United States Department of Labor, over thirty million Americans have lost their jobs. Tenants also have to worry about impending evictions, as an estimated thirty to forty million people are at risk of eviction, according to the Aspen Institute. UBI would give these struggling citizens the ability to pay off their rent and utility bills, and also be used to pay for food and other necessities.
Multiple countries are already doing this, such as Canada and Spain. Canadian citizens are able to apply to Canada Emergency Response benefit, which gives about two thousand Canadian dollars a month, which estimates to a little over one thousand dollars a month. Spain introduced a plan in May 2020, which gives a variety of UBI to people of varying incomes and family sizes.
UBI experiments are proving to work as a response to COVID-19, and it’s about time we give people that option. The United States did receive a small stimulus bill, however it’s not enough. UBI is, at least in the short term, the answer to our current economic woes caused by the coronavirus.