A $1,000 per month cash handout would grow the U.S economy by $2.5 trillion, new study says

[thetonestarr]

fielding88 said:

monocle_layton said:
Hmm...

I can't make any sort of comment due to my lack of knowledge around this.

Are there any closed experiments where they studied families of different economic backgrounds and compared befor and after free handouts?

https://en.wikipedia.org/wiki/Mincome

We're trying it again in Ontario right now. Three-year study. But of course we're a lot different than America.

More in-depth reading: https://en.wikipedia.org/wiki/Basic_income

I'm in the same boat as Layton. I'm intrigued - skeptical, but interested - and I'm not going to act like an educated economist and comment on whether it'll work because I simply don't know.

But the way things like this work is to simply try reducing the wealth disparity by guaranteeing everybody can at least live by the minimum required to get by, and by significantly increasing taxes on the wealthy and luxury items.

Also there is usually a set of requirements that must be met to qualify for your basic income package, so not quite *everybody* will receive them.