E-Source Says
Universal Basic Income or Invest In Yourself?
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In the past four decades, many countries including Finland, Canada, the United States, and Brazil have discussed and debated Universal Basic Income (UBI) models.
As politicians clash over big government, tax breaks for the wealthy and increased protections for low-income citizens, many hard-working Americans are floundering.
In the past, a college degree and a corporate job provided a reliable income for the average American family. Today companies are cutting costs by outsourcing jobs overseas or relying on automation, sparking layoffs and job insecurity. The hourglass economy created by a shrinking middle class is forcing many Americans to work for a disappointing salary at a job that does not match their skill set.
Invest In Yourself
Don’t wait on the government to implement new programs to achieve financial freedom. Invest in yourself by taking the leap from employment to empowerment to achieve self-sufficiency and a long-term generational legacy.
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As income inequality widens and politicians focus on granting tax breaks to the wealthy and temporary assistance to people in need, hard-working Americans are struggling. Record inflation, high gas prices, and lack of job security are taking their toll. A college degree no longer guarantees a strong financial future and numerous job prospects. Once safe havens for dedicated workers, corporations have turned to outsourcing and automation to cut costs. Loyal employees are left feeling battered and bruised as they struggle to gain ground. People are being forced to take jobs below their skill set, and they live in fear of the next round of layoffs.
UBI May Shrink Income Inequality
Some politicians are setting their sights on Universal Basic Income to help solve the growing problem of income inequality in America. Implementing UBI would guarantee that every American over the age of 18 receives a payment from the government each month. Early proponents of the plan include American revolutionary Thomas Paine, Martin Luther King Jr., and economist Milton Friedman.
Interest in UBI was revived during the 2020 presidential election when Andrew Yang touted the concept as part of his campaign platform. Dubbed the Freedom Dividend, Yang’s UBI proposal would pay every American $1,000 per month. Yang contended his UBI program would permanently grow the economy up to 13.10%, or about $2.5 trillion, by 2025.
A program like UBI can help put low-income earners on equal footing and may reduce income inequality. Evidence indicates that UBI may help foster economic security and can help people pay their bills. At least 45% of Americans favor a program like UBI, according to Pew Research. UBI is generally favored by Democrats, particularly adults under 30 years old, and opposed by Republicans. A lack of broad public support dims the prospect of passing a program like UBI in the near future.
Invest in Yourself
UBI does have the possibility of helping people achieve financial freedom by giving them the resources needed to invest in themselves. Having a bit of extra cash on hand to use for career enrichment classes and training has the potential to help propel people forward.
But waiting for Washington to get its act together and make sweeping changes is likely a pipe dream. Don’t put your plans on hold to wait for the launch of a government-sponsored initiative like Universal Basic Income to achieve your dreams.
“It’s never too late to take matters into your own hands. Start the next part of your career and pursue a new future now,” said Terry Powell, Visionary Founder of TES. “Invest in yourself by taking the leap from employment to empowerment to achieve self-sufficiency and a long-term generational legacy.”
The Entrepreneur’s Source®, the nation’s leading career coaching franchise, helps people chart a new course today by exploring the possibilities, options, and dreams of a different future. Our career coaches use education-based tools to help people set goals and explore possibilities at no cost. Coaches focus on helping people determine their Income, Lifestyle, Wealth, and Equity™ goals to discover a new path. TES coaches hold people accountable to their dreams and help them attain financial freedom.
TES helps people who are at a crossroads in their careers. As part of our coaching process, we help people determine if they want to pursue a new corporate job, start a business from scratch, or invest in a franchise. Franchising allows people to invest in themselves with ample training and support. They can open a business with a proven track record and a recognized brand.
Are You Ready to Pursue Entrepreneurship?
If you are tired of waiting for the government to act and ready to achieve the American dream as an entrepreneur, contact a Career Ownership Coach™ to learn more about franchising. For more information about TES, visit www.entrepreneurssource.com, or check out our guide book, “Your Career 2.0® A Survival Guide for the Battered Career and Investor Syndrome®.”