A lot happened in July.
But, one event went quietly unnoticed.
The result of largest American controlled experiment in Universal Basic Income (UBI) was released.
You haven’t heard about it because the findings are terrifyingly bad.
1,100 randomized households making under $29,900 were given $1,000 per month for three years. Essentially, their income increased by 40%. The UBI participants lived in urban, suburban and rural towns in Texas and Illinois.
The results showed that no one did better but actually they all did worse.
The American Underclass is so worn down that when thrown a life preserver, they could only float rather than paddle to safety.
Universal Basic Income and its collectivist derivatives are never enough. Work is intrinsically tied to human dignity, happiness and progress.
British man attacked for entering a ‘no-go zone’ in London.
A horde of Islamists surrounded him and questioned why he was in ‘their’ neighborhood.
They threatened him and began chanting ‘Allahu Akbar’ as they kicked him out.
A 65-year-old couple retiring in 2025 with average earnings will receive an estimated $1.34 million in lifetime benefits, while contributing only $720,000 in today’s dollars.
That shortfall—more than $600,000 per couple—is being made up by younger workers.
“Most of the growth in spending has gone to retirement and healthcare, while programs that promote upward mobility... have been left behind”
https://www.newsweek.com/social-security-medicare-young-workers-cost-10477619