Why isn't Universal Basic Income been tried yet, to see if all those myths of inflation are fake?

Question

There are myths, but they are not proven myths, that a universal basic income willl lead to inflation. How can it lead to inflation if it hasn't been tried yet?

Answer 1

Favourite answer

The money has to come from somewhere and those businesses who get taxed more will attempt to pass on the cost. Unless we're talking about a situation where a government simply has too much surplus revenue (Macau) or has reinvested their surpluses (Alaska), funding UBI is not going to be a free lunch.

Answer 2

Has been tried in some countries

None have had high inflation 

Answer 3

It has been tried in several places and has not worked because you are rewarding not working. 

Answer 4

Finland's trial was only for 2,000 people over 2 years.  They found that the people who got free money were happier.  They also found that they couldn't afford to implement it on a widespread scale which is why nothing has happened since the trial ended.  UBI is a fairy tale that will never be implemented on a widespread scale.  

Answer 5

It has been tried, just not in the U.S., and most of the myths are disproven.  For example, it did not result in men, childless women, or women whose children were all over a year old deciding not to work and to stay home instead.  (It did, however,  lead women to take longer maternity leaves immediately after giving birth.)

Answer 6

Actually Finland has been trying it for 2 years.  There is an article on the New Scientist site you can read...check for May 2020.  According to the article it seemed to make people want to work more.