Childhood poverty alone costs the U.S. $1.03 trillion in a year, according to study, we estimated that poverty costs the U.S. more than
$4 trillion a year, but how much UBI would cost? The answer is much less.
According to Bridgewater, Universal basic income (UBI) would cost the US up to $3.8 trillion per year, that’s less than the >$4 trillion than poverty currently costs us.
Childhood poverty cost $1.03 trillion in 2015, about 5.4 percent of the gross domestic product of the United States, according to a new study from the Brown School at Washington University in St. Louis.
So, according to the above, a $500 per month UBI would cost less than $2 trillion per year, that’s half of what poverty is currently costing the U.S.
Poverty is costing us way more than a UBI would, but if we remove all the unnecessary welfare programs, than number would even be higher.
Now, we understand that Universal Basic Income would actually not increase, but reduce the total U.S. spending, so, what is stopping it? The answer is simple, corruption.
Most politicians don’t actually want to solve the poverty issue, not even reduce government spending, they mostly focus on how to serve the interests that they have, ignoring that way the real solution.
Andrew Yang is a 2020 Democratic presidential candidate who wants to make UBI a reality for America, that would bring real prosperity to all of us, under his plan called Freedom Dividend, a universal basic income of $1000/mo. would be given to all U.S. citizens.