Paradise gained: U.S.’s largest welfare state per capita is now introducing bill to provide Universal Basic Income
Hawaii, which not only requires massive subsidies on energy and food because nearly everything has to be shipped onto the island, is also the nation’s highest welfare state per capita. ¬†And because the island paradise has engendered a long history of paying individuals not to work, it should come as no surprise that on June 16 a bill emerged in the state legislature calling for a Universal Basic Income to be provided to the people of Hawaii.
An unprecedented bill supporting the idea of universal basic income (UBI) has been introduced in the American state of Hawaii.
The bill, titled House Concurrent Resolution 89, was brought by Hawaii State Representative Chris Lee and was passed by both houses of the state legislature in a unanimous vote.
The resolution declares that all the islanders ‚Äúdeserve basic financial security.‚ÄĚ
It also orders government offices to weigh the state’s economy and find ways to ensure all families have basic financial security, including an evaluation of different forms of a full or partial universal basic income. – Russia Today
The idea behind Universal Basic Income has been around a long while, even going back to 1969 when then President Richard Nixon offered the idea at a time when the U.S. was just beginning its decline in its domination of global trade. ¬†And the idea of UBI has since emerged once again primarily in Europe where socialist countries that produce little are seeking to keep their economies going by funneling money to consumers so that they will continue to spend.
The question on how a Universal Basic Income is funded is often something liberals and socialists never bother to answer, especially when their nation’s sovereign debt levels are at the point of being over 100% of debt to GDP. ¬†And then of course there is the problem of inflation that would result from flooding an economy with printed money that is not backed up by either products or labor, which would make whatever income they provide eventually being able to purchase less and less.
In the end the ultimate question one has to ask in regards to Hawaii promoting a Universal Basic Income to their citizens is, who will have to pay for it since they themselves already rely upon massive subsidies from the Federal government, and as a state they do not have the power to print their own money to fund it.
Kenneth Schortgen Jr¬†is¬†a writer for The Daily Economist, Secretsofthefed.com,¬†Roguemoney.net, and Viral Liberty, and hosts¬†the popular youtube podcast on Mondays, Wednesdays and Fridays.¬†Ken can also¬†be heard Wednesday afternoons giving an weekly economic report on the¬†Angel Clark radio show.