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Universal Basic Income and Universal Basic Capital

Kentuckians helped build this country. We went into the mines, forged the steel, and worked in the factories that helped America become the wealthiest country on earth. Yet one out of every five residents in Kentucky live in poverty, and too many Kentuckians are trapped in low-wage jobs that don’t provide enough to meet their basic needs. As a result, Kentucky is home to five of the top  10 poorest counties in the U.S., and has a higher poverty rate than 47 other states in the nation. 

Charles believes that we can end generational poverty in our commonwealth by passing a Universal Basic Income, which would provide an economic life-line to hundreds of thousands of Kentucky families that live at or below the poverty line. He also believes that we can build generational wealth by enacting Universal Basic Capital. This is a vision for lifelong wealth building by enacting policies like treasury backed Baby Bonds, which would provide Kentuckians with the ability to make long term financial investments and grow familial wealth over time. 

These ideas are not new. More than 50 cities across the country have pilot programs testing Universal Basic Income and its impact on poverty rates. The results are clear: when American’s basic needs are met, they have the economic freedom to live meaningful, dignified lives. 

Low cost universal savings instruments, like postal banking, can help marginalized communities avoid predatory banking and provide a steady return for families. Guaranteed government retirement accounts would allow Americans to continue to see returns on their contributions even into their elder years.