Even A Modest Basic Income Could Improve Economic Security

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James King explains that even a modest universal basic income of a few hundred dollars a month could do a lot to protect people from exploitative financial products like payday loans and overdraft fees. There is an all-or-nothing tendency among some advocates of a basic income that make it seem like UBI is only valuable if it pays out $12,000 or more per year. But this is a mistake. It is valuable even at modest levels, given how many people currently struggle to pay bills and have to resort to high-interest debt to make ends meet.