Let’s take a break from the goings on in Washington because, frankly, the Democrats’ insufferable disposition has me inhaling Aspirin. So, let’s mute them and come back to this study that is likely to ruin a liberal’s day. It was released earlier this year, back in January. It relates to Universal Basic Income, which the Left claims could provide financial stability and prevent poverty. The National Bureau of Economic Research just obliterated that concept.
In a lengthy Twitter thread, Athan Koutsiouroumbas, a former top GOP staffer, outlined the key findings. People weren't discernably richer and smoked more tobacco products:
Yet another Universal Basic Income study was released just before the holidays.
— Athan Koutsiouroumbas (@Athan_K) January 6, 2025
While being given ~$500 per month in free money, participants only ended up $100 richer and smoked more cigarettes.
The full results are eye opening. (1/10) pic.twitter.com/EhZ1BWslPJ
“Receiving guaranteed income had no impact on the labor supply of full-time workers, but part-time workers had a lower labor market participation by 13 percentage points.” (3/10)
— Athan Koutsiouroumbas (@Athan_K) January 6, 2025
“At the same time, average non-housing debt balances declined by $2,190 over 18 months relative to the control group, although the drop is not statistically significant.” (5/10)
— Athan Koutsiouroumbas (@Athan_K) January 6, 2025
“The recipients of twice-monthly transfers were more likely to own a car, had lower credit card debt and greater food security than recipients of quarterly transfers, but otherwise transfer frequency had little impact.” (7/10)
— Athan Koutsiouroumbas (@Athan_K) January 6, 2025
“The list experiments show strong evidence of relative reductions in IPV, weak evidence of reduced alcohol consumption, and moderately strong evidence of relative increases in tobacco consumption.” (9/10)
— Athan Koutsiouroumbas (@Athan_K) January 6, 2025
Again, socialism doesn’t work. These programs don’t work. The best way to lift people out of poverty is to grow the economy and increase job creation, which you do by not entertaining Universal Basic Income principles and taxing people and businesses to death.
You can read the complete study here.