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Economy
Universal Basic Income Experiment: UBI fails on all metrics
2022-07-24
Andrew Yang hardest hit
[ZeroHedge] For a few weeks, people who received the extra money spent more than the control group -- $182 a week for the people who received $500, and $574 a week for the ones given $2,000.

...The handout recipients reported the same rate of overdraft fees, late-payment charges and cash advances as did those who didn't receive the extra money. And it was all downhill from there. The handout recipients reported:

  • Less earned income

  • Less job satisfaction

  • Lower work performance

  • More financial stress

  • Less liquidity

  • Worse sleep

  • Worse physical health

  • More anxiety

  • More loneliness
very expensive experiment - 2k people getting up to $2k (not sure if it was more than a one time deal)--- UBI proponents will say, 'well I bet it would work if we did it for 10 years
Posted by:Lord Garth

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