Alaska is using the profits from oil to give back to it's residents. Many states don't have the luxury of doing that... But honestly, can someone really live off $1000 a month?
You can't blame the rich... they worked hard and invested wisely or their forefather did and they inherited the wealth. By giving people free money, we will create a generation of lazy people. Just look at welfare recipients... majority of them don't want to get better... just have more kids to milk more money from the gov't.
HL, it's ECONOMICS BRO. I kid you not. Here are a few statistics you should keep in mind.
1) 30 years ago 1% wealthiest own 50% of the stock market. Today, 1% wealthiest own 70% own the stock market.
2) Wealth creation in the 20th century is created through a Newtonian physics equation called F=MA, or to put it in money term, wealth = asset x currency speed x transaction speed. Since wealthy people don't SPEND, the currency speed is declining. However, the transaction speed is increasing through automation, but that too is reaching a peak point with ATM, Credit Card, Flash Trading, etc...
Based upon these two simple principles, we can extrapolate a very simple understanding. Unless monetary policy changes, the 1% will continue to accumulate more of the wealth in America. As the 1% accumulates more wealth, the TOTAL wealth will decline due to lack of spending due to a decrease in currency speed. What this means is the federal reserve will likely introduce a NEGATIVE INTEREST RATE POLICY (NIRP) in the next crash.
Now, let me tell you about a conservative economist name Milton Friedman. He saw these trend lines 20+ years ago, and he proposed this radical idea called negative interest rate. The government would tax money in the bank account by 2% per year to force savers to spend. The people who are greatly impacted the most are the 1%. Who will receive the 2% NIRP? Guess who? The people. So essentially, Milton Friedman did propose UBI but under NIRP.
What UBI or dividend promoter argue is that, let's not wait for a crash. Let's stave off a crisis through enlightened leadership and create a policy that forces wealthy people to spend and not save.