One of the candidates running for the Democratic Party’s presidential nomination in the 2020 election is pushing for a policy that would give every American a $1,000 per month “Freedom Dividend.” Entrepreneur Andrew Yang is the candidate behind this policy and the reasons that this policy of Universal Basic Income would save the state billions of dollars in bureaucratic costs by eliminating the need for various social programs. In fact, researchers calculate enacting UBI as Yang is proposing would save somewhere around $539 billion per year, just under three percent of the total gross domestic product. Advocates for UBI declare it to be a way to help maintain standards of living despite increasing use of AI automation and robots and provides people with an economic cushion that can have a positive effect on people’s health.
How Universal Basic Income would save America billions of dollars
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