A Candid Discussion on Universal Basic Income
Many countries including Finland, Canada, the United States, and Brazil have discussed and debated UBI models...We do not hear of the Universal Basic Income in Malaysia...do we?
In a bustling café, two friends, Alex and Jamie, met to catch up and discuss the hot topic of universal basic income (UBI). They ordered their drinks and found a quiet corner to sit down.
Alex: "So, Jamie, have you heard about this universal basic income idea? I've been reading a lot about it lately."
Jamie: "Yeah, I've come across it too. From what I understand, it's a system where all citizens receive a set amount of money regularly, right?"
Alex: "Exactly. It's intended to ensure that everyone has a minimum standard of living, and it can take different forms depending on the context."
Jamie: "I wonder what the benefits of UBI could be. It sounds like it might be expensive to implement."
Many countries including Finland, Canada, the United States, and Brazil have discussed and debated UBI models...We do not hear of the Universal Basic Income in Malaysia...do we?
The reasons they are discussing on the UBI formula is because robotics in particular, has started to impact the livelihood of humans in many countries and industries.
Universal Basic Income For Humans
Alex: "Well, one of the main benefits is that it could reduce poverty and inequality. By providing everyone with a basic income, we can help ensure that no one falls below a certain level of financial security."
Jamie: "That's true. And I guess it could also simplify welfare programs, cutting down on administrative costs and making them easier to navigate."
Alex: "Absolutely. And you know what? UBI might even stimulate economic growth. By giving people more disposable income, they'll be more likely to spend it, which could lead to increased consumer spending and new job opportunities."
Jamie: "I hadn't thought of that. And I guess it would also provide a safety net for those who can't work due to illness or other reasons."
Alex: "You're right. There are definitely potential benefits to UBI, but there's still a lot of debate around it.
News Admin
Taxing The Robots
The question of whether companies should be taxed heavily to compensate for the loss of jobs due to automation is a complex one.
While it is true that automation can lead to job losses, it can also create new jobs and opportunities. Additionally, automation can lead to increased productivity and efficiency, which can ultimately benefit workers and consumers alike.
That being said, there are certainly valid concerns about the impact of automation on the workforce, and it is important for policymakers to consider these issues carefully.
Some have suggested that a universal basic income could be a way to address the challenges posed by automation. I hope that helps. Let me know if you have any other questions.
