Guaranteed Income
“I am now convinced that the simplest approach will be the most effective – the solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income.”
-Dr. Martin Luther king jr.
The Issue:
Across Alameda County nearly 49% of residents are considered rent burdened due to spending 30% or more of their household income on rent (rent defined as utilities plus rent). The greatest impact of this, according to the Healthy Alameda County data, is felt by young adults up through age 24 along with seniors age 65 and older. The U.S. Department of Laborlists the current federal minimum wage at $7.25/hour since 2009. The California minimum wage is a bit higher at $15.50/hour.
For residents on a fixed income, being rent burdened can be even more detrimental. The Social Security Administration list the maximum monthly benefit for someone that retires at age 62 in 2023 as $2,572. Compare that with a median gross rent amount of $2,043, and you can immediately start to see how high housing costs negatively impact Alameda County seniors. Far too often residents around the county are forced to choose between paying rent, buying food, paying medical bills, and buying medication. This is where a guaranteed income would be beneficial.
Proposed solution:
The current U.S. economic system is one the prioritizes profit over people and gives the average American just enough room to survive. As of 2022 a little over 9% of Alameda County’s population meets or exceeds the poverty threshold; that is approximately 153,000 people. That number is far too high! For the average American to truly thrive in this country, I am also convinced that the solution to poverty is to abolish it through a guaranteed income.
Through collaboration at the Federal, State, and local levels we can provide our citizens with an income floor to build on rather than championing an income ceiling that is next to impossible for most to reach. Reducing our Defense Spending and using those dollars to Invest in the People is, at minimum, a step in the right direction toward complete abolition of poverty in this country. Federal dollars can be matched at the State and local levels to support guaranteed income programs across the country; with at least 50% of participation prioritized for Black and Indigenous residents. Whether it’s supporting our transitional age youth (TAY) and former foster youth, or our seniors and everyone in between, I am committed to furthering the guaranteed income work we’ve started here in California. As California goes, so goes the Nation!