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I don't think its really all that misleading. The article is talking about basic income being needed as a safety-net for events like losing your job so that you
by tengbretson 6y ago
I don't think its really all that misleading. The article is talking about basic income being needed as a safety-net for events like losing your job so that you can continue to feed your family. I suspect that absent a car, mortgage and credit card payment coming due every month most people would actually be able to weather this sort of event. The reality of these monthly liabilities doesn't change all that much regardless of your equity situation.
- leetcrew 6y agoI'm disagreeing that "the average american has a six figure debt load" is a problem to begin with. if you take the total outstanding consumer debt in the US and divide by the number of households, you get about $110k for the mean, which is pretty close to the median household net worth. unless the distributions of debt and net worth look quite different, this implies that a typical household has a debt-to-assets ratio of <0.5. this doesn't strike me as a problem. this is independent of whether I think UBI is a good idea in general (I do, actually).