If Americans were to receive $1,000 a month in Universal Basic Income, would landlords be saying, "Sorry, rent just went up $1,000."?
- ANDRE LLv 71 month ago
A $1,000 per month cash handout would grow the economy by $2.5 trillion, new study says
The study made economic forecasts for three proposals: a full universal basic income in which every adult gets $1,000 a month ($12,000 a year), a partial basic income in which every adult gets $500 a month ($6,000 a year), and a child allowance in which parents get $250 a month ($3,000 a year).The larger the universal basic income, the greater the benefit to the economy, according to the report.A $1,000 cash handout to all adults would grow the economy by 12.56 percent after eight years, the study finds. Current Congressional Budget Office estimates put the GDP at $19.8 trillion. The cash handout would therefore increase the GDP by $2.48 trillion. (Vox first did this extrapolation in their coverage of the report, and Steinbaum confirmed the accuracy of the extrapolation to CNBC Make It by email.)The $250 allowance would grow the GDP by 0.79 percent and a $500-a-month payment would grow the GDP by 6.5 percent.
- SlumlordLv 71 month ago
If this universal income meant that 50 million new renters could afford places and the rentals were not there, then the law of supply and demand would, indeed, cause rents to go up, maybe way up (and probably the price for everything to go up - ie high inflation).
Since Yang is out of the running and nobody seems the least bit interested in this idea (plus the debate about whether this would bankrupt the country), why waste your time with questions that will likely never come to pass.
- babyboomer1001Lv 71 month ago
No. The rent would reflect the value of the comparables available for rent. That's how it always is.
- R PLv 71 month ago
In theory, that could happen. In reality, rents will go up, but not that much.
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- RichardLv 61 month ago
that is actually cheap in some places
- hotstuffktrLv 61 month ago
Uh, no! Need 15 though!!
- MarkLv 61 month ago
Could happen. But ponder this: population is increasing; wages are stagnant. Between increased productivity and AI and robotics, there may not be enough jobs in the future for everyone. So, it's some sort of basic income or mass starvation, or violent political upheaval. Oh, and in the U.S. we've actively armed the peasants. Don't think they won't turn on their leaders.
- Anonymous1 month ago
1) The free market would continue to sort out rents (supply/demand); or
2) The government would step in and regulate rent; or
3) Some combination of the above two which is probably the most likely scenario.
- Aster RhoidsLv 71 month ago
Would we have enough cash to hand out $1000 to every eligible citizen
- JudyLv 71 month ago
No, probably some but not nearly that much, but would cause massive inflation, and the price of almost everything would go up since there would be a lot more money around but not more things available to buy.