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August 21, 2017

What is Universal Basic Income?


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The concept of Universal Basic Income has received a lot of news coverage lately. Icons of industry like Richard Branson, Mark Zuckerberg and Elon Musk have all voiced their support for this “social-security-for-all” type system. With the increases in automation and technology, billionaires like Musk say Universal Basic Income will become “necessary” given the mass unemployment in the near future.  

Around the world, locations like Finland, Namibia and even Hawaii are experimenting with a form of basic income. Alaska has had a similar system for over 30 years where Alaskans receive an annual dividend payment … just for being Alaskans.

Since I’m all about educating myself in all things financial, I figured I would take a deep dive into Universal Basic Income. That way I can actually form a thorough opinion on this highly debated topic.

Related in Education:  These 5 Books Will Skyrocket Your Net Worth

To get that education process started, I invited Scott Santens to join us on the podcast. Scott is a writer and advocate for basic income. He’s the moderator for the highly active Basic Income Community on Reddit. Suffice to say, he knows a thing or two about the subject.

Scott Santens, Universal Basic Income Advocate
Scott Santens, Universal Basic Income Advocate

What are we covering today?

Scott and I chat about:

  • What Universal Basic Income is all about
  • Why he feels it would be a smart change for the US
  • The positive results from basic income experiments around the globe and in the US

If you’ve heard of Universal Basic Income, but don’t know all of the details, join me for today’s discussion. Educating ourselves when it comes to our taxes and government assistance programs like this will help us to be more informed Americans and better global citizens. As they say, knowledge is power.

Click the play button above or listen on iTunesGoogle Play or Stitcher.

Show Resources

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Books on Universal Basic Income

Basic Income Reddit Page

Scott Santens Website

For a Balanced View on Universal Basic Income … 

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“The function of education is to teach one to think intensively and to think critically. Intelligence plus character – that is the goal of true education.” -Martin Luther King, Jr.

What are your thoughts on Universal Basic Income?

Andy Hill

Andy Hill, AFC® is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping families build wealth and happiness. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world. When he's not "talking money", Andy enjoys being a Soccer Dad, singing karaoke with his wife and relaxing on his hammock.

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