Abstract: Universal basic income is a government program that provides every adult citizen a guaranteed set amount of money on a regular basis. UBI was first introduced by Thomas Paine, but gained media attraction during COVID-19 as a possible solution to the increasing poverty rate and to replace pre-existing social welfare programs that are in need of greater bureaucratic involvement. During his 2020 presidential campaign, former Democratic candidate Andrew Yang utilized UBI as the cornerstone of his campaign and claimed that the Freedom Dividend would provide money for citizens to cover basic necessities, leading to a division of opinions. Supporters of UBI believe that a guaranteed payment from the government could support individuals throughout economic transformations and individuals who have difficulties being qualified for other governmental programs. Those that oppose UBI believe that the program is unrealistic and would result in shrinking the size of other social programs, which many believed was unnecessary. It is strongly believed, however, that the implementation of UBI as a new policy would compensate individuals suffering within the United States’ broken welfare system and a new wave of automation. Overall, promoting the idea that Universal Basic Income is a likely solution to the feasibility of closing the wealth gap in the United States.
Keywords: UBI, universal basic income, welfare, economy, sociopolitics, government, money.
Title: Universal Basic Income and its Feasibility of Closing the Wealth Gap in the United States
Author: Chloe Mun
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
Vol. 10, Issue 4, October 2022 - December 2022
Page No: 189-195
Research Publish Journals
Website: www.researchpublish.com
Published Date: 13-October-2022
