Universal Basic Income recreates the American Dream in the way it was always intended to be: attainable. It invests the American government in the American people. It puts money into the everyday worker's hands, who will then spend it in their local and/or franchised businesses. These business owners will have larger profit margins and invest in their communities. The communities will grow to impact larger communities, states, and in the end, the entirety of the GDP.
I want to give all Americans (18 and above) an opt-in program of a basic income at $1,000 per month, no questions asked. This is a lofty goal, estimated at roughly 3.1 trillion, but not entirely unattainable. Given the savings that could be made by a Value-added tax, regulations on off-shore banking, and a wealth tax, a Universal Basic Income only makes sense.
This program would take the place of current welfare program spending, saving roughly 1.2 trillion. It would also save costs on the bureaucratic systems in those programs. I also want to institute a 15% Value-added tax, which would add 1.44 trillion (assuming 85% GDP participation in the calculation). The other 400 billion needed would come from heavier regulations on off-shore banking, a small wealth tax, and very minor deficit spending. And since automation is becoming ever-present in our industries, our GDP will only grow larger, thereby boosting our ability to invest in the everyday American.
With COVID-19 shutting out a significant portion of workers from their paychecks and threatening a 20% unemployment rate, it is absolutely vital that every American gets what they are due: a Universal Basic Income. In other words, give Americans the cash they need to triumphantly come out of this economic downturn.
On top of coronavirus, Big Tech is advancing in the United States, especially in Utah. It will automate jobs away from the good people in our district. We need a Universal Basic Income so that we are protected from the current Industrial Revolution. I want to give US citizens $1000 per month no questions asked. American economics has always been dependent on the income and spending of the middle and lower classes, so let's put the money in our hands. This is a new take on the "trickle-up economy" represented by Keynesian economic thought. Universal Basic Income, or the Freedom Dividend, boosts local economies with additional cash flow and bolsters local businesses. Furthermore, this will boost our national economy by guaranteeing every citizen an income above the poverty line.