Times are tough these days.
An untold number of Americans are struggling to pay rent or mortages, meet their automotive dues, keep food on the table, and otherwise sustain themselves.
Multiple reports likewise document a rise in credit card debt as people are having to borrow more and more funds just to meet their basic needs.
Amid job layoffs, especially in the tech industry, it’s becoming an even greater challenge for Americans to keep up with inflation. Unfortunately, a huge part of what’s contributed to today’s inflation crisis is massive government spending.
It’s often tempting to claim that spending even more money on handouts will fix the problem. Though this is a tried and failed effort.
Nevertheless, the Daily Mail reports that Oregon is seriously looking into universal basic income.
A new bill working its way through the Oregon state legislature would hand out $1,000 per month to homeless individuals, individuals with low income, and families who spend more than 50% of their earnings on lodging.
Per the terms of this legislation, the people eligible for these handouts would receive them until January 2026.
However, while throwing money at poverty may seem like the answer, in theory, reality is very different. This bill, if it passes into law, will cost over $14 billion per month.
JUST IN: 🇺🇸 Oregon proposes bill to give homeless people $1,000 a month in universal basic income.
— Remarks (@Remarks) March 2, 2023
It goes without saying that this level of spending will have serious consequences, especially for taxpayers in Oregon, who are already financially strapped as it is.
There are certain requirements for how the money can be spent, according to the bill. These rules would let recipients spend their monthly $1,000 on childcare, meals, and emergencies.
However, from this point, the guidelines get a bit dicey, as the legislation reads that additional services and goods of the individual’s choice are eligible for spending the funds on.
The funds for universal basic income, if this bill makes it through the Oregon state legislature, are not free, despite how it’s all being branded. The money will come out of the earnings of taxpayers.
Likewise, $1,000 monthly handouts fail to incentivize people who are struggling to find work. After all, if the government is willing to hand out money, is there really a reason for anyone to actively work for it themselves?
Reminder. Every single $$ paid in Universal Basic Income will come from the hands of a productive person paying unreasonable amounts of tax.
Government spending IS NOT magical fairy dust – it must come from the pockets of hard working people.
— Michael Sidhu (@mikessidhu) February 28, 2023
At the end of the day, universal basic income is costly, counterproductive, and not feasible amid the real challenges America faces. Nevertheless, Oregon is a deeply blue state, so people shouldn’t be too shocked if this bill makes it through the legislature and gets signed into law.
Are you concerned about the path that Oregon appears to be going down? Do you believe universal basic income is going to backfire? In the comments area below, you are more than welcome to let us know.