1 out of 8 Americans live in California. Now a proposed California law "would provide most adults in the state with a universal basic income of $1,000 per month, similar to the proposed plan of former presidential candidate Andrew Yang," reports Newsweek:
The California Universal Basic Income (UBI) Program was
Funding the program with a value-added tax has been blasted by some who believe such a tax would disproportionately burden the poor. Concerns have also been raised over potentially forcing people to choose between UBI and other existing public assistance programs... Proponents of UBI argue that the Yang plan and others could counter the anticipated problem of increasing automation inevitably leading to widespread unemployment.
Experts warn that a large percentage of the workforce is likely to be decimated by automation, with some studies estimating as many as 73 million jobs eliminated by 2030.
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