A 2% financial wealth tax would provide a $12,000 annual stipend to every American household #Entrepreneur @MondoPlayer [Video]

Sandra GiffinFeedToPost, Sandra Giffin Twitter

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3. Children need our help.This could be the best reason for monthly household stipends. Parents, especially mothers, are unable to work outside the home because of the need to care for their children. Because we currently lack a UBI, more and more childrenare facing hunger and health problems...

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3. Children need our help.

This could be the best reason for monthly household stipends. Parents, especially mothers, are unable to work outside the home because of the need to care for their children. Because we currently lack a UBI, more and more childrenare facing hunger and health problems and educational disadvantages.

4. We need more entrepreneurs.

A sudden influx of $12,000 per year for 126 million households would greatly stimulate the economy, potentially allowing millions of Americans to take risksthat could lead to new forms of innovation and productivity.

Perhaps most significantly, a guaranteed income could relieve some of the pressure on our newest generation of young adults, who are deep in debt, underemployed, increasingly unable to live on their own, and ill-positioned to take the entrepreneurial chances that are needed to spur innovative business growth. No other group of Americans could make more productive use of an immediate boost in income.

5. We need the arts and sciences.

A recent Gallup poll found that nearly 70% of workers don’t feel “engaged” (enthusiastic and committed) in their jobs. The work chosen by UBI recipients could unleash artistic talents and creative impulses that have been suppressed by personal financial concerns, leading, very possibly, to a repeat of the 1930s, when the Works Progress Administration hired thousands of artists and actors and musicians to help sustain the cultural needs of the nation.

Arguments Against

The usual uninformed and condescending opposing argument is that UBI recipients will waste the money, spending it on alcohol and drugs and other “temptation” goods. Not true. Studies from the World Bank and the Brooks World Poverty Institute found that money going to poor families is used primarily for essential needs, and that the recipients experience greater physical and mental well-being as a result of their increased incomes.

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