Hawaii has a state debt of over $14,370,912,000 which calculates to an almost $10,000 debt per citizen.
With this proposed socialist scheme, what could possible go wrong?
From Daily Mail: It may have been the last state to join the United States, but Hawaii may trail blaze and become the first to offer guaranteed basic income (UBI).
A bill was recently passed through both the houses and state legislature in a unanimous vote that declares that all Hawaiians ‘deserve basic financial security’ and prompts state agencies to look over ‘universal basic income’ along with other policy.
‘As innovation and automation and inequality disrupt our economy, we want to make sure that everybody benefits and nobody is left behind,’ said state Representative Chris Lee of Kaliua to Mother Jones. ‘It’s past time that we had a serious talk about not just tweaking our economic policies but having a new discussion from the ground up about what our values and priorities are.’
While Alaska has provided state residents a stipend funded by oil revenue since 1976, Hawaii is the first to consider the income to cover living expenses. Hawaii’s cost of living – the highest in the country – motivated the passing of the resolution in May along with the states reliance on low-paid service industry jobs.
According to Lee, Hawaii has a very limited manufacturing and tech sector which puts the service-focused economy at risk. The text of the measure mentions the impact of technological advancements which have helped kill jobs in the state.
‘There has been a discussion for a long time about how do we build an economy where everybody can afford to live here and survive,’ Lee said.
Next, Hawaii has to gather a ‘basic economic security workshop group’ comprised of leaders from various sects of public life. They will be tasked with assessing the state’s exposure to ‘disruptive innovation’ and submit studies on UBI.
Lee said: ‘There is definitely a recognition that beyond just talking about basic income that things need to change. We need to take proactive action to chart a stable path forward for our economy and all of our residents.’
Other states have tossed about the idea of UBI for their residents. California’s Silicon Valley is looking to explore how working to address its displacement of blue-collar workers.
Democratic Congressman Ro Khanna proposed a $1 trillion earned income tax credit for working families. This is seen as a huge step for the movement of UBI.