"Every night before I rest my head...See those dollar bills go swirling 'round my bed." — "Free Money" as performed by Patti Smith
First in a two-part series
Free money is an attractive proposition. Whether or not it is a healthy economic policy for our nation is a fascinating question.
One of our Presidential hopefuls has made a $1,000 monthly cash gift to all Americans part of his campaign platform. Others have proposed lesser “Freedom Dividends.” The controversial initiative raises both the question of whether we should pay these supplements and how such payments would be financed.
The idea of a universal basic income (UBI) has long been floated by economists. Essentially, citizens are gifted sums of money, usually monthly, and use the cash at their own discretion.