What if… There was a universal basic income?

Many of the jobs created in New York City since the 2008 recession have been in low-wage sectors. Although the minimum wage in New York City will rise to $15 per hour by the end of 2018, many workers can still barely afford to live in New York. An alternative to regulations like minimum wage laws – or means-tested programs like welfare or food stamps – is the idea of a universal basic income (UBI). UBI rests on a simple but radical idea: provide every citizen, whether they have a job or not, a monthly payment from the government.

By providing an income floor, UBI would eliminate poverty wages and could lead to potential wage increases above that of the minimum wage. Furthermore, UBI could help to cushion job losses expected from increased workplace automation while eliminating the red tape associated with many other means-tested benefits programs. But critics argue that it would unfairly redistribute money from the poor, would provide a disincentive to work, and could lead to a surge in immigration.

What do you think – is a universal basic income a good idea?

Find out more at the “Raise the minimum wage” strategy at the Making a Living table in the Future City Lab.