Universal basic income, otherwise known as monthly checks for everyone, why it likely won’t happen, but why another program that also sends out monthly checks has a very high likelihood of happening. I have also all the details for you on this topic. And I’m here for you right by your side every single day with all the latest updates, as information is changing very rapidly right now, especially as it pertains to low income, low income, fixed income, Social Security, SSDI, SSI, VA, and so much more that is going on right now.
All right. So this whole idea behind monthly checks, otherwise known as UBI, universal basic income, or another program called guaranteed basic income GBI, or sometimes referred to as just basic income. Now all of these are in conjunction with monthly stimulus checks sounds very confusing, right? Well, yeah, it is confusing because they’re all a little bit different. In fact, I’ve talked about these previously in other videos and I want to talk about this a little bit more closely here because a lot of times when we hear about these monthly check programs, a lot of times it’s referred to as universal basic income.
However, the likelihood of a UBI or universal basic income program actually happening is probably very slim. In fact, the likelihood of it happening is probably almost not existed. It’s probably not going to happen ever. However, another program like guaranteed basic income is in fact, already happening across the entire country right now. In fact, this is something that’s happening all across the world.
In fact, some countries are picking this up and have been sending out monthly payments to their residents in certain cities, villages all over on an ongoing basis. And we’re seeing this across many different areas all across the United States. So I want to lay out a little bit more detail between these programs and why UBI probably will not happen and why guaranteed basic income will probably happen. And it’s probably going to be coming in a nationwide level, just like we’ve talked about in previous videos. So again I know this is very confusing.
Every time that I have a video where I refer to universal basic income It’s always kind of like, what is this program? What does it mean? Who’s going to be included? Am I going to be included? How soon, how much, and when, right?
Yeah, there’s a lot of questions about this. So let’s quickly talk about universal basic income just really fast here. Let me briefly talk about what this program entails. So this is just kind of like a big general statement as far as UBI universal basic income. What does it mean?
Well, universal meaning all-encompassing everybody. So essentially what it means is maybe a government, a state of federal government, some kind of locality. Something like this would essentially say that, hey, everybody within the borders of blank area, for example, Would be eligible to receive a payment on an ongoing basis regardless of income net worth. Anything like that. It does not matter at all.
Literally, it’s indiscriminate. Just basically everybody within a certain area Would be getting a payment based on just anything. If you’re within that area, you get a payment, right? So basically, let me give you a quick example. Now again, this is just an example.
This is not a real thing yet. I’m just saying let me give you an example. So this is how it may work out. So let’s just say in new York maybe they come up with a UBI program and they basically say, okay, everybody within the borders of New York who is a new York resident for one month or whatever Is going to be getting an ongoing $1,000 check every single month for twelve months. Now that would be a universal basic income.
Now think about it. In New York there are very low-income people. There are fixed-income individuals. There are people with no income. There are also billionaires, right?
And there are multimillionaires. New York has everybody. Just like every state, every state has people all across the entire spectrum. With a universal basic income program, everybody would be getting a payment. Even the person with no income.
The fixed income, the low income, the multimillionaires, the people out there earning $500,000 a year, and the billionaires, every single person would be getting a check. Now again, remember this is.
Is just an example. Right? That’d be pretty cool if that was the real thing. But again, it’s just an example just to kind of illustrate this whole point a little bit more closely. All right.
So that is universal basic income. However, when it comes to another type of monthly check per program, otherwise known as guaranteed basic income, or for short, you could just say basic income. These are essentially the exact same thing. Now, the difference here is basically the same thing. Whereas monthly checks would still be going out, but rather they’re going out to very specified groups of people.
So we’re seeing these programs pop up all over the country right now. So they may highlight a certain group of people. Let me give you that same example for New York. Again. Now, again, just to make it totally clear, this is just an example.
This is not happening quite yet. Okay. So let me lay this up very closely. So let’s go back to the New York example. In this situation, they might say, okay, we’re going to be rolling out a guaranteed basic income program within the state of New York and all residents, regardless of whatever, just basically all residents with an income under, say, $40,000.
Again, I’m just making up a number just to give you an example. So basically, let’s just say for New York, they say, okay, all residents in the state of New York with an adjusted gross income on your state tax return in the state of New York under $40,000, we’ll be getting an ongoing $1,000 check every single month for the next twelve months. Now, this would be a guaranteed basic income program. Now you might be thinking, wait, this sounds like the exact thing. Same thing I just explained.
It’s very similar. The difference is it’s focused on a very specific group of people. Whereas the first example, UBI, universal basic income went to everybody, the multimillionaires, the people earning $500,000 a year, the billionaires, the people working on Wall Street taking down a couple of million a year. You know what I mean? So it would be going to everybody in UBI, whereas a guaranteed basic income goes out to like I said, in this example, it would be saying everybody in New York gets a check, $1,000 a month for twelve months, provided your adjusted gross income on your state tax return is $40,000 or less.
Right? So again, that was just totally an example. But I wanted to make that very clear. So you could see the two differences here. Universal basic income versus a guaranteed basic income type program.
So that is the major difference between these UBI is all encompassing universal. Every single person, if you’re alive, if you’re breathing, if you’re kicking, if you have a pulse, you get a check. Right? But if you’re talking about guaranteed basic income, a lot of times it’s wrapped around a lot of different parameters. Mostly, income is what it all wraps around.
So that is the difference between these programs. Now, why did I say at the beginning of the video that it’s highly unlikely that a universal basic income program Will actually happen, Whereas it’s highly likely that a guaranteed basic income program happen. Here’s why? And we’re seeing this kind of across the board when it comes down to universal basic income. Realistically, if it’s sent out on a nationwide level and it’s likely going to be from the federal government, this is probably what’s going to happen at some point in the future is there will be a guaranteed basic income program Sending everybody with a certain income threshold or less, a monthly stipend.
And again, how much will that be? We have no clue at this point. However, the idea of one $200 has already been floated. But anyway, we can come back to that here in just a minute if we want to. But basically, when it comes down to universal basic income, There are millions of people in this country that do not need a monthly check.
We’ve talked about this previously when it comes to stimulus checks, if they were to issue another stimulus check right here today, does everybody need a stimulus check just like the 100? What was it, almost 200 million people that got a check last time? No, not even close. There’s only maybe about 50 million to maybe 100 million people. Basically, it comes down to about a third of the population here in the United States needs another stimulus check, not everybody.
So that is the difference here. So basically a universal basic income program Sending those checks out to people who don’t necessarily need it, the higher income, the higher net worth people, all that would lead to is massive, massive hyperinflation Because it would be more money Chasing the same amount of goods and services, which actually leads to hyperinflation, right? There’d be a ton of money Chasing the same amount of goods and services, which is exactly the definition of supply and demand and what leads to inflation, right? So we would not want a universal basic income program. We certainly would not want that Because there would be a lot of people who would just not need the money and they take it and say, hey, let’s go buy some new golf clubs.
Let’s go buy a new pair of shoes today and buy another pair of tomorrow and buy six more tomorrow, you know what I mean? So we do not want a universal basic income program.
That would not be a good thing. Everything would go up dramatically in price because at the end of the day, what would be the consequences of that? Everybody would basically be in the same exact spot. Let’s say you have the millionaire who has, let’s just say a million dollars of net worth and $200,000 annual income. That person is still going to get the same net worth and the same annual income plus a $1,000 monthly stipend. It’s going to keep everybody in the same spot. And let’s just say, for example, the SSI beneficiary, who gets $841 a month, they’re going to get the 841 plus the $1,000. So basically, everybody’s on the same exact level.
All it’s going to do is just pump more money into the system and cause a massive inflation. So we do not want a universal basic income program. Trust me on that one. You don’t want that. However, when it comes to guaranteed basic income, we would want one of these programs, and here’s why. It wouldn’t lead to massive inflation, but rather it would basically more it would help level the playing field a little bit. The higher-income people out there wouldn’t be getting a check because first off, they don’t need it. It would just be discriminate spending, basically. Sorry. It would be discretionary. That’s the word I meant to say. There not discriminate. I meant to say discretionary spending. In other words, they would just take the money and just go spend it on things that they don’t necessarily need because it would be like, hey, I got an extra $1,000. What can we go spend it on this weekend that we don’t need? Right. So that’s why higher-income people wouldn’t really need the payments and why it wouldn’t be a good thing. But guaranteed basic income or GBI or a basic income program would actually be a good thing because it would help level the playing field for the lower-income individuals.
Fixed income, low income, anybody falling under a certain threshold, getting that monthly payment, it would help them kind of bridge the gap a little bit more with their income that they’re receiving. Plus this monthly stipend kind of get what I’m saying. So we can maybe look at like a guaranteed basic income program or a basic income program as more of like a playing field. Right. We’re kind of leveling off the playing field a little bit more versus where it currently sits right now. So we could probably look at it that way. So kind of hope that little analogy there gives you a better illustration of what it would actually look like with a guaranteed basic income program versus a universal basic income program. Kind of makes sense. Now, let’s quickly just hit on really fast here. Just a minute ago, I said that we already had floated the idea of a $1,200 monthly guaranteed basic income program. Yeah. This is the one that we saw actually last summer by Representative Ilhan Omar, which happens to be one of the Progressives out of the House. She floated the idea of a $1,200 guaranteed basic income program for anybody with an annual income under $75,000.
That’s exactly what a guaranteed basic income program is. So as you can see, compared to UBI, everybody would get a check. But in this instance of the idea that was already floated last summer by Representative Ilhan Omar, you can see it right here. The income threshold, $75,000, the monthly stipend one $200. Right. So you can see it’s focused on the lower income. However, again, in my opinion, I feel like 75,000 is probably too high. I think it’d probably be like 50 or $40,000 of income would probably be the more of like a sweet spot that would be really focused on those lower-income people. Right. Kind of makes sense. So anyway, hope that kind of lays it out a little bit more clearly. The differences between UBI and GBI, universal basic income, guaranteed basic income, why one would be really good for a lot of people, and why the other one probably wouldn’t be desirable. It would not be a good thing for all of us in this country because the higher-income people, the higher net worth people, they simply don’t need it. And it would just be discretionary spending and basically, just pump up the prices on everything otherwise known as inflation.
Do you know what inflation means? Of course you do. We’re all dealing with a ton of it right now so we are very familiar with what inflation is. We’re all feeling it every time we step outside of our house. Oh, yeah, we’re getting a little inflated, right? Pretty soon we’re all going to turn into hot air balloons. Well, hopefully not anyway. But anyway, you get my point, right? We’re all inflated a little bit or more like prices are and our bank accounts are not. But maybe someday that sure would be nice. All right, anyway, I hope this clears it up a little bit more closely. I love talking about these topics. I really enjoy doing all the research on this, laying it all out in these short topics, and just doing whatever I possibly can to help all of you right here in this community. I’ll see you again later. thank you bye.