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Do Basic Income programs work? - 1/05/2023

Someone recently mentioned to me that they wanted to win on one of the lottery tickets that awarded a monthly amount, even if it was just $50 per month for life, rather than winning a big one-time prize that might be worth more than they would win in total for the monthly amount over time. The security and consistency of that monthly amount was more appealing to them. I can understand that. The subject ties into a project I have recently become aware of, Basic Income programs. Universal Basic Income programs are a specific type of Basic Income programs, though I have seen it used as the general term as well.

A Basic Income program (BI) is a project where people of a particular selected population are given basic income amounts, no strings attached. Based on the type of BI this may be based on location or situation such as unhoused, unemployed, low wage, etc. These payments may be one-time or regularly occurring.

There are many experiments for this project going on around the world with different parameters. The goals are fairly similar, to give people a place to start from and some stability so that they can use this as a way to step up from poverty.

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