Can New Jersey really afford to be giving away any more free money? Newark Mayor Ras Baraka is looking into the idea of putting everyone in the city on the payroll. It's called, "Universal Basic Income," and will basically provide a wage for all citizens. Newark would be the first city to try it in the United States. It did not work in Finland. There are 3 arguments against the idea, according to the Foundation for Economic Education:

One of course being the cost, who will pay for it? Will it be taxpayers or will we borrow from the future and go deeper into debt? Another argument against this is the idea to give people incentives as opposed to handouts. and the third would be whatever the outcome, the welfare state isn't going anywhere.

I can add another. How about finding ways to bring businesses who can provide higher paying jobs to the city? Maybe give them tax breaks to come? Isn't that what a mayor' is supposed to be doing? Tap into the marijuana business when it becomes legal, perhaps the sports betting industry? Make the people of Newark feel good about themselves from being able to earn an honest living. I'm sure that's what they really want.

People don't want handouts. We here in New Jersey would like to earn our money. I believe while there are some people who would be content to just live off the fat of the land and take whatever is given to them, most would rather earn their keep. From a psychological standpoint, I think this would lead to an increase in depression and a definite lack of self esteem. In no way can that be any good for Newark or anywhere else.

More from New Jersey 101.5: