Many of us have recently received our latest COVID relief checks. How you choose to spend your money is entirely up to you, but if you believe that government assistance isn’t beneficial, I can point you toward those who might disagree. For parents, this relief package includes a glimpse into the concept of universal basic income (UBI), a practice already being explored in various countries and advocated by the current administration.
Starting in July and continuing through December, parents with children under six will receive $300 monthly, while those with children under 18 will receive $250 per child. This credit stands apart from the existing child tax credit, as it specifically targets families in the lowest income brackets—those who previously earned too little to access essential support.
Biden’s relief initiative isn’t the first to explore “free money” for those in need. In February 2019, Stockton, California, launched an experiment where 125 individuals received $500 a month, no strings attached. Funded by philanthropic organizations, the Stockton Economic Empowerment Demonstration provided these funds to participants with incomes below the median of $46,000 annually. Recipients were not subjected to drug tests or work requirements; they were simply given support and trusted to make their own choices.
Contrary to popular belief, the participants did not become less motivated to find work or spend irresponsibly on vices. Instead, they managed their bills, spent quality time with their children, and escaped unhealthy relationships. If you’ve experienced poverty, you understand that individuals will find ways to acquire what they deem necessary, regardless of assistance. Living with financial instability can often lead to addiction or hardship, but basic income can help alleviate some of that burden.
Recent findings from the Stockton project highlight the positive impact of a reliable income stream for those who typically experience erratic paychecks. Gig work has become increasingly unstable during the pandemic, making it challenging to meet monthly obligations. Participants who received $500 monthly reported lower stress levels and improved decision-making, enabling them to transition from part-time to full-time employment and regain a sense of control over their lives.
Universal basic income does not promote laziness or discourage work; rather, it fosters healthier living conditions. As Michael Evans, the former mayor of Stockton, noted, “Cash can be more effective in addressing certain forms of depression and anxiety than traditional medications. The health issues we see in our community are often the result of stress linked to income instability.”
Several cities across the United States are considering UBI programs, but to make a significant impact on poverty, federal implementation is necessary. An estimated 27 million children in the U.S.—including a large percentage of Black and Latino children—did not qualify for the full child tax credit due to low family income levels. If Biden’s relief bill were to continue, it could lift nearly 10 million children above the poverty line. The proposed tax credit increases the maximum annual benefit to $3,600 for children under six and $3,000 for children ages six to seventeen, delivered throughout the year instead of during tax season. This consistent income flow reduces the volatility that has been shown to be beneficial in the Stockton study.
Your preconceived notions about “free money” or universal basic income may be misguided. The most effective way to support those in need is to provide them with the resources necessary to improve their situations; they don’t require excessive scrutiny or criticism. Consider the advantages enjoyed by those with family wealth, who often glide through life with safety nets constructed by previous generations. Why should access to financial support depend on luck and opportunity rather than hard work?
The reality is that many individuals living in poverty work tirelessly yet still lack access to equitable opportunities. Why shouldn’t lower-income earners be allowed to take breaks, spend time with family, and pursue options that enhance their well-being and earning potential? If your aim is to reduce reliance on welfare, then investing in people to help them achieve self-sufficiency is a wise strategy.
In summary, universal basic income has the potential to transform lives positively, as evidenced by the Stockton experiment. It provides a pathway for individuals to regain control, reduce stress, and improve their overall quality of life.
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