UBI popular.

Talk of universal basic income (UBI) in the U.S. remains in the news nearly a year after a presidential election and amid a global pandemic. Though measures like economic impact payments (stimulus checks) and advance child tax credits have been compared to UBI, a federally guaranteed income program in the U.S. seems far off.

Americans widely support the idea, though. MagnifyMoney researchers surveyed 2,050 U.S. consumers, finding that 72% support some form of UBI, with most hoping the payments would go to certain groups of people rather than all adults.

Key findings At least 7 in 10 Americans support some form of universal basic income, with 35% “definitely” favoring the policy and 38% supporting it under certain conditions (i.e., income, citizenship and employment). Support for UBI in some form significantly decreases among high earners, men and Republicans. Among those not in favor of UBI, the No. 1 reason is a fear that the policy would remove the incentive to work (noted by 68% of opponents), followed by the possibility of higher taxes (53%). Those supportive of UBI largely believe in its ability to lift people out of poverty (60%). The same percentage (72%) of those who support UBI believe we should guarantee that all Americans have enough money to afford basic needs like food and shelter. However, the majority of consumers think UBI shouldn’t go to every adult in the U.S., but rather citizens and/or those below a certain income threshold (both 43%). 22% of Americans say they need UBI to make ends meet, and this figure climbs even higher among women (25%) and parents with children younger than 18 (28%). 2 in 3 respondents say they’d spend a hypothetical UBI on living costs and other necessities.

Majority of consumers support some form of UBI Politicians looking for a popular initiative could be advised to explore legislative options for universal basic income. UBI in some form garners approval from 72% of consumers. While 38% might change their mind under certain circumstances, a strong 35% of folks support UBI in any form.

Each demographic breakdown of UBI support tracked by the MagnifyMoney survey bolsters the finding that higher earners are less likely to back the idea. A 2018 Grinnell College poll found Republicans on average have higher incomes than Democrats, with 26% of Republicans earning more than $100,000, compared with 20% of Democrats.

While the policy idea wins a majority approval on both sides of the political aisle, Democratic voters are more likely to support UBI than Republicans: Democrats: 88% support, 12% don’t Republicans: 53% support, 47% don’t Independents: 72% support, 28% don’t Democrats (28%) are more likely than Republicans (18%) to contact their elected officials about UBI, but those calling aren’t necessarily in favor. In fact, 7% of both Democrats and Republicans report calling their representatives to oppose UBI. Additionally, 11% of independent voters have made calls to oppose the idea.

Those earning $100,000 annually or more are significantly less likely to support UBI than any other income group, with 64% saying they would endorse some form. Folks earning less than $35,000 support UBI the most, with 76% in favor. Support for UBI drops slightly among the middle income brackets, but hovers within a few percentage points among each group earning less than $100,000: Less than $35,000: 76% support, 24% don’t $35,000-$49,999: 75% support, 25% don’t $50,000-$74,999: 72% support, 28% don’t $75,000-$99,999: 75% support, 25% don’t $100,000 or more: 64% support, 36% don’t Men — who notoriously make more money on average than women — are less likely to support UBI than women: Men: 69% support, 31% don’t Women: 74% support, 26% don’t And when it comes to age, baby boomers — the wealthiest generation — are the least likely to support UBI, deviating from their younger counterparts by 13 to 25 percentage points: Gen Zers (ages 18 to 24): 83% support, 17% don’t Millennials (ages 25 to 40): 81% support, 19% don’t Gen Xers (ages 41 to 55): 71% support, 29% don’t Baby boomers (ages 56 to 75): 58% support, 43% don’t

According to MagnifyMoney senior economic analyst Jacob Channel, younger folks tend to make less money, so they logically would be interested in this form of government aid. For baby boomers, Channel says the culture in which they came of age plays a role.

“On top of that, because they’re wealthier than younger generations, baby boomers tend to be a little bit more conservative with money,” Channel says. “They’re more concerned about things like inflation and higher taxes than younger generations are, largely because those issues would be more likely to negatively impact them.”

Pandemic inspires more UBI support The coronavirus pandemic and the resulting economic fallout inspired many to rethink how people have their needs met — and whether it’s the government’s responsibility to meet them. The stimulus payments offered a glimpse into possible UBI outcomes, as the checks allowed many families to pay off some debt or cover necessary expenses.

As a result, 45% of consumers say the pandemic made them more supportive of UBI, versus just 14% who say the crisis made them less supportive of the idea.

The road to UBI is paved with good intentions Supporters of UBI appear to believe in the positive outcomes that inspire the idea in the first place. It seems supporters have faith in the policy’s ability to lift people out of poverty, provide economic stability and give people financial security. Here’s a full breakdown: Lifts people out of poverty: 60% Provides economic stability: 53% Gives more people financial security: 51% Ensures children will be taken care of: 45% Supports parents or caregivers unable to work: 44% Reduces income inequality: 36% It’s the right thing to do: 30% Offers a security net to those whose jobs may be lost due to increased automation: 30% It would really help their personal situation: 26% Allows workers more choice in the types of jobs they take: 18% Increases entrepreneurship and innovation: 15% Other reason: 5% Those who oppose UBI in any form feel strongly about people working for a living, with 68% of nonsupporters saying that UBI removes the incentive to work. Additionally, a large share of respondents assumes UBI will be too costly and lead to higher taxes.