FEDNOW Digital currency aka UNIVERSAL BASIC INCOME…with conditions …More job cuts: * Con 1. Universal Basic Income (UBI) takes money from the poor and gives it to everyone, increasing poverty and depriving the poor of much needed targeted support. ... * Con 2. UBI is too expensive. ... * Con 3. UBI removes the incentive to work, adversely affecting the economy and leading to a labor and skills shortage. https://www.procon.org › headlineshttps://www.procon.org/headlines/universal-basic-income-top-3-pros-and-cons/Why is UBI ineffective? The obvious objection to giving everyone a livable income, whether or not they work, is that many will stop working. Production could then fall so much that the population will be reduced to poverty. Indeed, even the UBI itself could collapse because **the Government will be unable to collect enough tax to fund it**.Jun 13, 2023 https://iea.org.uk › universal-basic-i...https://iea.org.uk/universal-basic-income-a-pointless-trial-of-a-bad-idea/#:~:text=The%20obvious%20objection%20to%20giving,enough%20tax%20to%20fund%20it.concerns about its cost, work incentives, inflationary pressure, and long-term sustainability should be carefully considered.Jun 28, 2023 https://medium.com › the-pros-and-...https://medium.com/@KnowExpose/the-pros-and-cons-of-universal-basic-income-ubi-2b9ca9fa37e1#:~:text=Universal%20Basic%20Income%20is%20a,sustainability%20should%20be%20carefully%20considered.Is UBI affect the rich? In that situation, the benefit of giving everyone (rather than just lower-income people) a basic income goes down. **The wealthy would realize they effectively get nothing from UBI, and there would be additional bureaucracy, which might even end up costing more**. And resources have been cut to Euro countries cost will jump exponentially in a short period of time. This is called a RECESSION.