Universal Basic Income is a failure, new report says

Universal Basic Income is a failure, new report says

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A new study on universal basic income (UBI) is challenging the central claim used to promote the scheme: that, if done right, it can help alleviate poverty.

Proponents of the basic income argue that it will help those below the poverty line pay for essentials like food, housing, and healthcare, according to the assessment by the New Economics Foundation (NEF) in the UK. The NEF reviewed 16 real-life UBI trials to see whether a basic income can really bridge the inequality gap.Its conclusion: There is no evidence that the project can meet its […]

Universal Basic Income Is a Wolf in Sheep’s Clothing, New Analysis Finds

Universal Basic Income Is a Wolf in Sheep's Clothing, New Analysis Finds

Will universal basic income improve lives and reduce inequality, or should campaigners continue to focus on how to better provide basic services like healthcare and education instead? For Anna Coote, a principal fellow at the New Economics Foundation think tank, the evidence that basic income is the best way to ensure a minimum quality of life in an increasingly fractious and unequal economy, is shaky.

Instead, Coote argues that the money could be better spent on building higher-quality public services.

“Money spent on cash payments cannot be invested elsewhere,” Coote wrote in an opinion story for The Guardian published Monday. “The […]

Andrew Yang: $1,000 ‘Freedom Dividend’ For Every American Adult Will Create ‘More Than 2 Million Jobs’

Andrew Yang: $1,000 ‘Freedom Dividend’ For Every American Adult Will Create ‘More Than 2 Million Jobs’

Democratic presidential candidate Andrew Yang on Tuesday theorized that his proposal to pay every American adult $1,000 per month would actually result in “more than 2 million jobs.”

WATCH: After explaining Yang’s universal basic income proposal to viewers, Fox News anchor Bret Baier asked pointedly, “How do you make that work?”

After noting the fact that major companies like Amazon pay little or no taxes, Yang said his proposal could be paid by “harnessing the gains from innovations in new technologies that are being enjoyed by companies like Amazon, Google, Uber, Facebook and on and on.”“How do you answer that?” […]

The future of work and American income

The future of work and American income

Facebook There’s a coming storm that will affect just about everyone — artificial intelligence (AI).

It’s potentially so bad that economists have predicted AI will consume a huge number of jobs over the next 15 to 20 years, touching just about every inch of the economy. From manufacturing to professional, legal and medical services, almost everyone will feel something.

And while new jobs will surely develop from AI’s existence, they won’t be immediate. So, some people are going to lose out to a robot or algorithm.For something that is supposed to affect so many people, politicians don’t seem to be talking […]

Green Party leader fields questions from local voters

Green Party leader fields questions from local voters

Green Party of Ontario leader Mike Schreiner speaks to voters in Bracebridge (Contributed) A standing room only crowd turned up to see Green Party leader and MPP Mike Schreiner.

He was speaking to a group of Parry Sound-Muskoka voters in Bracebridge Friday night. Schreiner, the first elected Green MPP in Ontario gave a brief introduction and then threw the floor open to questions from the audience. Those questions discussed a variety of topics, including floodwater management.

Schreiner expressed concern for those affected by the floods. At his request, arrangements had been made for Schreiner to visit a neighbourhood affected by the […]

A new study on universal basic income says it doesn’t achieve its main purpose and is economically illiterate

A new study on universal basic income says it doesn't achieve its main purpose and is economically illiterate

A new report on universal basic income (UBI) questions whether the system can achieve its aim of alleviating poverty and reducing inequality.

The New Economics Foundation think tank argues that the project cannot be both affordable and effective.

It cited figures suggesting that UBI funding would cost between 20% and 30% of most countries’ GDP. Such a large rebalancing would ultimately divert funds from social programs like public housing or health care, the report said. UBI trials around the world have mostly focused on providing payments to poorer members of society. A new study […]

Universal basic income: New study says it doesn’t achieve main purpose

Universal basic income: New study says it doesn’t achieve main purpose

A new study on universal basic income (UBI) is challenging the central claim used to promote the scheme: that, if done right, it can help alleviate poverty.

Proponents of the basic income argue that it will help those below the poverty line pay for essentials like food, housing, and healthcare, according to the assessment by the New Economics Foundation (NEF) in the UK.

The NEF reviewed 16 real-life UBI trials to see whether a basic income can really bridge the inequality gap.Its conclusion: There is no evidence that the project can meet its goals while being economically viable at the same […]

Andrew Yang’s presidential campaign neglected to disclose his $1,000 gifts to a New Hampshire family

Andrew Yang's presidential campaign neglected to disclose his $1,000 gifts to a New Hampshire family

Andrew Yang, entrepreneur and 2020 caucus candidate, wants to give an Iowa family $1,000 a month to demonstrate his campaign policy. Kelsey Kremer, kkremer@dmreg.com

Presidential candidate Andrew Yang has been pitching voters all the details of his universal basic income plan, which would give the country’s adults direct monthly cash payments from the federal government.

He’s even dug into his own pocket to give a New Hampshire man $1,000 a month, the monthly amount he’s proposed each citizen gets, to prove the utility of the plan.Despite all the details he’s disclosed, he skipped one crucial piece of the puzzle: Disclosing the […]

Basic Income: John McDonnell hails report calling for UK to pilot radical scheme

Basic Income: John McDonnell hails report calling for UK to pilot radical scheme

John McDonnell has hailed a new report that calls for Britain to pilot the idea of giving every citizen a £100-a-week ‘basic income’.

The radical scheme, if it were ever rolled out fully, could scrap benefits and instead give every person a basic weekly or monthly payment, no matter how high or low their pay.

Today the Progressive Economy Forum (PEF) think tank lists five ways the idea – trialled in Finland and the Netherlands – could be piloted in the UK.One idea in PEF’s report is to give every adult in a selected community £100, with £50 for each child […]

Universal Basic Income of £48 a week?

I think it’s a great idea, but £48 a week seems low compared to other trials. I’m assume it comes from 20% of the current personal tax allowance ie (£12,500 x 20%)/ 52 weeks, so income tax payers won’t see a negative impact, £48 lost allowance but £48 gained in UBI, and those at the lowest end will at least have some guaranteed income.

Someone added an interesting link in the comments of the BBC article:
https://www.fastcompany.com/90315293/ontarios-basic-income-was-working-amazingly-well-before-it-got-cancelled
In the report on the results, BICN makes it clear that even in the short duration of Ontario’s program, the benefits of […]