Can Basic Income Save the American Dream?
Consequently, America has fewer smaller businesses and more people. This leads to economic stagnation and decline; because small businesses employ 47.5% of America’s workforce, the Small Business Administration estimates.
Moreover, the lack of small businesses keeps wages low because there are fewer businesses competing for Americans’ labor. In fact, the Brookings Institute estimates the lifetime incomes of American men who entered the US labor force in 1983 are one fifth lower than those who started work in 1967.