The city of Newark, New Jersey, plans to hop on the Universal Basic Income bandwagon rolling across the nation.
Democrat Andrew Yang has made Universal Basic Income (UBI) a major plank on his presidential campaign’s platform, helping to boost the idea’s popularity.
UBI has even attracted some disillusioned Trump supporters who, having to compete with the massive influx of inexpensive labor from the south and the Pacific, have given up on the idea of being able to support a family on a single income here in the United States.
Last week Newark Mayor Ras Baraka announced the creation of a task force and pilot program to test the feasibility of this program. By going through with this program, Newark will be the largest city in America to experiment with the UBI so far. Under a UBI, citizens will receive a stipend regardless of whether they are employed or not.
Baraka claims that one-third of Newark lives in poverty, and this requires the government to take action. Baraka says, “We believe in Universal Basic Income, especially in a time where studies have shown that families that have a crisis of just $400 a month may experience a setback that may be difficult, even impossible to recover from.”
Baraka did not provide more details on the specifics of plan— how it would be funded or when an official decision would be made.
Despite the UBI’s rosy marketing, the results worldwide have been a mixed bag. In 2017, Finland kicked off the UBI campaign by giving 2,000 randomly selected Finns a monthly stipend of roughly $634. However, after two years, the Finnish government decided to pull the plug on the project.
The Finnish government’s decision was reasonable. According to the Organisation for Economic Co-operation and Development (OECD), Finland would have to raise income taxes by 30 percent to fund its UBI program. On top of that, the UBI scheme could increase the Finnish poverty rate by 11.4 percent to 14.1 percent according to the OECD’s research.
Finland wasn’t alone. Ontario, Canada pulled the plug on its UBI program citing that it was “not sustainable” and “expensive.”
Some economists believe that the focus on the UBI is misplaced. Economic growth does not happen through income redistribution, as our current tax code has demonstrated for the past century. Rising living standards are the product of increased worker productivity. According to market analyst Troy Vincent, “investment in capital goods like tractors, or welders, or production facilities” is needed for more goods to be created, which in turn translates into economic prosperity.
Other economists like Dan Mitchell argue that a UBI could have negative cultural effects. Mitchell sustains that “Having a job, earning a paycheck, and being self-sufficient are valuable forms of societal or cultural capital.”
The economist also believes that the welfare state is here to stay and that if a UBI were implemented, he doesn’t “trust that the rest of the welfare state would be abolished”.
Moreover, I worry that universal handouts would erode the work ethic and exacerbate the dependency problem.
The economist argues that replacing the welfare state with a UBI “would probably make the system simpler, but at a potentially very high cost in terms of cultural capital.”
The consensus that has emerged among free market economists is that UBIs could be experimented with at the local level but not turned into a national program. For them, reduced taxation and regulations are still key for generating economic growth for all.
Marjorie Taylor Greene Plans to Introduce Articles of Impeachment Against President Biden ON DAY ONE
She’s citing Biden family corruption.
Georgia freshman Congresswoman Marjorie Taylor Greene is planning on introducing articles of impeachment against President Joe Biden the day after he’s inaugurated.
Greene made the announcement on Wednesday.
On January 21st, I’m filing Articles of Impeachment on President-elect @JoeBiden.
75 million Americans are fed up with inaction.
— Marjorie Taylor Greene 🇺🇸 (@mtgreenee) January 14, 2021
Greene is citing Biden family corruption, accusing Biden of standing by as his own relatives enriched themselves through business deals with foreign oligarchs, using the former Vice President’s family name.
Biden game-planned on messaging to dismiss his son Hunter’s involvement with corrupt Ukrainian oil company Burisma, receiving advice from the State Department while accusing the company’s oligarch owner of criminal activity. It didn’t occur to Biden to address the fact that his own son secured highly lucrative employment with Burisma until the topic became a point of political contention in the 2020 election.
Biden’s brother, Jim Biden, has also been accused of securing lucrative business deals in China under the auspices of the Biden family name. Biden has steadfastly refused to speak in detail about suspicious Biden family business dealings, even though he’s gone so far as to openly brag about securing the termination of a Ukrainian prosecutor investigating Hunter Biden and Burisma for laundering profits of the former state-owned enterprise.
Greene is demanding that Biden be held accountable for the de facto licensure of his family name in Ukraine, an international liability that far surpasses anything proven to be real through a lengthy investigation into Donald Trump’s supposed connections of Russia.
The articles of impeachment are doomed from the get-go, with Speaker of the House Nancy Pelosi assured to protect Biden from allegations of corruption and poor governance. However, the Democratic Party has been unable to resist turning the presidential impeachment process into a wholly partisan, reactionary affair, and may reap the whirlwinds of their decision if Republicans willing to hold the establishment politician accountable gain majorities in the House and the Senate.
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