According to a new poll more Americans now support the idea of a universal basic income, which some economists believe is a very bad idea.
The poll from Gallup now says 48% of Americans are or the idea of a universal basic income. That number was at just 12% ten years ago. Economist Vance Ginn with the Texas Public Policy Foundation explains why more people might support it now.
“There is this sort of fear about automation and job security and those sort of things that have increased over time, especially over the last ten years,” Ginn explained.
But he also says the idea of a universal basic income is simply not a good one.
“Some estimates show that if we provided everyone with a ten thousand dollar check every year, it would actually cost us three trillion dollars,” Ginn said, adding that it would kill our economy, because it would lead to higher taxes, slowing economic growth.