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Americans' incomes have been 'rising faster than the inflation rate': Economist

Former Trump economic advisor Steve Moore breaks down the impact of inflation and residual effects from the Biden administration on the American economy on 'Life, Liberty & Levin.'

President Donald Trump loves a good foil. For America’s sake, he should find his next one in my home state of Illinois. 

Cook County — home of Chicago and most of the state’s leftist lunacy — has taken the nation’s furthest step toward a so-called universal basic income (UBI). Going forward, many low-income residents will permanently get monthly checks of $500. The goal is to help the poor stay on their feet, but in reality, the poor will stay poor and get more numerous. Not only should the president call out this injustice, but he should contrast it with his recent call to eliminate income taxes altogether. This may be Trump’s greatest opportunity for moral and economic leadership yet. 

Make no mistake: A UBI is the left’s next national priority. It’s the epitome of their now-impenetrable belief that government alone should provide for people’s needs. Democrats have laid the groundwork for UBI, as it’s called, with refundable child tax credits during the pandemic and pilot programs across the country. The rise of artificial intelligence, with its threat of job losses, gives further momentum to leftists who say that government should give everyone enough money to get by. Even some on the right, like billionaire entrepreneur Elon Musk, have jumped aboard the UBI bandwagon.  

COOK COUNTY IN ILLINOIS ESTABLISHES PERMANENT GUARANTEED INCOME PROGRAM

But UBI, like so much of the welfare state, is a frontal assault on the human soul. It saps people’s willingness to develop and apply their inherent talents, making poverty a permanent way of life. While activists and media outlets unfailingly call programs like Cook County’s a "success," real-world evidence shows their moral, economic and individual failure.  

A Boston suburb approved tripling the amount of money it's paying to residents in a guaranteed income program. (Getty Images)

The recent pilot programs in Democratic cities caused fewer people to work. So did the refundable child tax credit. When the federal government tested an early version of UBI in the 1970s, recipients lost $5 in lifetime earnings for every taxpayer dollar they received. 

Only one word can sum up UBI: evil. It’s morally wrong to steal people’s drive to make the most of their life. It’s inhumane to replace the ladder of opportunity with a cot. At its core, UBI encourages people to tolerate an unhappy existence instead of finding fulfillment through striving, succeeding and contributing to society. 

But as Cook County shows, UBI has political momentum. The best way to beat such a bad idea is with a better idea. A transformative idea that not only highlights the injustice, but shows a real path forward. That’s where Trump comes in, especially his idea to eliminate income taxes.

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The president made this comment flippantly after a Cabinet meeting on Dec. 2, saying that income taxes won’t be needed because of tariff revenue. But the real case for killing income taxes is that, like UBI, they also stifle work and limit its rewards. He could frame ending income taxes as giving every American the "universal right to earn," while directly contrasting it with a universal basic income.  

PROGRESSIVE CITIES GAMBLE WITH UNIVERSAL INCOME WHILE INFLATION THREAT LOOMS