The City of Stockton went bankrupt in 2012 and it now has a budget of $626 million.
A random sample of the 300,000 residents of Stockton, a port city in California’s Central Valley, will get $500 per month ($6,000 a year) with no strings attached.
It’s the latest test of the basic income policy. It is funded from philanthropy. The first $1 million in funding comes from the Economic Security Project, a pro-basic income advocacy and research group co-chaired by Facebook co-founder and former New Republic publisher Chris Hughes and activists Natalie Foster and Dorian Warren; Hughes provided […]
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