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Update on Basic Income Programs - 7/05/2024

Basic income programs are a different way of helping low-income people to break the poverty cycle. These are set payments made to low-income individuals in addition to any financial support they receive from the current various governmental programs. There are many different types of basic income programs, with varying amounts, timing, qualifications, or restrictions. What is interesting is that they seem to work.

What does this mean? It means that there may be an opportunity for individuals who would like to work their way out of poverty to get the financial stability and support they need, for a limited time, without the initial cliff that are part of the various governmental subsidies.

Not everyone is happy about the basic income programs.

I think it will take more years of data to see if an upfront community cost to give people financial stability in the short run will help them to permanently get off of government assistance. More people working and off of governmental subsidies is good for everyone, but only time will tell if the basic income programs are a good way to achieve this.

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