Guaranteeing everyone in America an income of $1,000 per month is a bold new path out of the current economic slump, which has created some of the widest income inequalities in modern history. The plan, originally put forward by conservative economist Milton Friedman, has gained traction in liberal circles as a path toward more meaningful employment for the underpaid, and a safety net for the unemployed. In most places of the country, $1,000 can pay for a modest apartment, some groceries, a basic phone plan, and some cab fare.
What’s the Big Idea?
While giving everyone in America free money seems like a radical idea, its time may have come. As the Congress is increasingly hesitant to extend unemployment benefits and, remarkably, food stamps have become a pariah policy in the Republican party. The cost of the program would amount to $2.8 trillion annually and could be paid for by closing tax loopholes. “Currently, $32 trillion is stashed in offshore accounts in notorious tax havens like the Cayman Islands and Bermuda. Much of that is profit made in the U.S. by American corporations, but booked overseas to avoid taxes.”
The 2011 Tōhoku, Japan, earthquake and tsunami killed thousands of people and damaged more than one million buildings, including the Fukushima Daini Nuclear Power Plant. The initial crisis of rebuilding […]