The American Dream Reinstated

How a Universal Basic Income could bring hope back to America

Alex Barfield

America, was a place once known by many, as a land of endless opportunity. A place 

where one could come to live a real life “rags to riches” story. Unfortunately in our current day and age, the American dream seems less and less like a reality. 

Many have lost their jobs due to the crippling covid pandemic, and many small businesses are being forced to shut their once thriving businesses down. Silicon Valley and Technological Automation are making many once prominent jobs completely obsolete. igh tuition prices for universities are giving many students no choice but to take out costly student loans in order to have a shot at getting a degree, creating substantial debt later on in life. One may ask, with all these costly problems is there any solution? Well, while there isn’t any concrete answer to these enigmas, Universal Basic Income (UBI) is our best bet.

UBI is the idea that all adults in America should receive a certain amount of money on a regular basis. An idea that first came into the public eye when 2020 Presidential Candidate, Democrat Andrew Yang, pushed the idea at the forefront of his campaign. He proposed giving $1,000 a month to every adult American, no matter their financial circumstance. At first the idea was jeered and mocked by his fellow running mates, who criticized the plan for being unnecessary and unrealistic. But, with the COVID-19 shutdown happening across the country, thousands of businesses shutting down, jobs being lost still to this day the proposal of UBI is looking stronger than ever. 

Just think of all the plights and financial problems a UBI could help solve. Poor impoverished citizens could spend the money on purchasing necessary food and paying off medical bills to help them and their family. Small business owners could use the $1,000 monthly check as a sort of springboard, helping to get remodels and new ideas off the ground and into reality. Unemployed Americans could use the money to stay afloat while looking for a new job. UBI could help take off the crippling weight of student debt, one of the biggest problems for new college graduates heading into the workforce. The ways in which this money could be put to good use are truly endless. But like all good things, UBI has a downside, the cost. The program would cost a projected $2.8 trillion a year for the United States government. But even that seemingly large flaw has a number of solutions. With just the repeal of a few government benefit programs and the removal of some credits from the tax system, the government would have to spend barely any more money than they are spending currently. With an idea this good, how could Americans not pass up on it?