What Is Universal Basic Income? A California City Is Testing It For The First Time

What Is Universal Basic Income? A California City Is Testing It For The First Time

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What would happen if everybody — regardless of their employment status or means test results — received a universal basic income from the government? One U.S. city is looking to find out. The city of Stockton will become the first U.S. city to experiment with giving residents a universal basic income in an attempt to alleviate poverty. But exactly what is universal basic income?

According to the Basic Income Earth Network, an international group that aims to educate and foster a global discussion on the topic of basic income, a universal basic income is " […]

Would (Freedom Dividend) Universal Basic Income work?

Recently I listened to a 2020 Democratic Presidential Candidate on episode #1245 of the Joe Rogan Experience on YouTube.

Andy Wang was the candidate and he spoke at length about upcoming job shortages. He said that automation would make two jobs obsolete in the next 5-10 years. Those jobs being sales and Trucking with others to follow due to Ai.

His solution for Ai job reductions was to offer Universal Basic Income. Specifically his plan is called the Freedom dividend. THE FREEDOM DIVIDEND BRIEF Andrew would implement a Universal Basic Income, ‘The Freedom […]

Income for all

Income for all

The poor remain in poverty not because they do not work but because the work does not pay or is of the manual scavenger kind. (Representational Image: iStock) That two former economic advisers to the Government of India appointed by governments with totally different ideologies, Kaushik Basu and Arvind Subramanian, have seriously considered the idea of a universal basic income for India suggests that there is good reason not to dismiss it just because the Congress has proposed it in the run-up to the ballot. In the West, the idea merits respect because technology-driven job losses have dispossessed many. […]

This Week in Europe: Spain calls snap election, Finland renounces universal basic income, and more

This Week in Europe: Spain calls snap election, Finland renounces universal basic income, and more

Image by Samuel Mork Bednarz. Members of the TNF team recount big events from Europe from the past week, and point attention to news that may have passed notice. What did we miss? Comment on our Facebook page at http://facebook.com/thenewfederalist.eu !

After relations rapidly soured between two of Europe’s biggest states, France and Italy, attempts are being made to repair the relationship. A phone call to Italy’s President was followed up by the return of the French ambassador to Italy, where he presented the Italian President with an invitation for an official state visit to France in the coming months. […]

Will ‘basic income’ become the California norm? Stockton starts $500 no-strings payments

Will ‘basic income’ become the California norm? Stockton starts $500 no-strings payments

At Harvard 2017 commencement speech, Mark Zuckerberg said he wants to “explore ideas like universal basic income.” Time

After months of planning, Stockton has sent debit cards loaded with $500 to a select group of residents as part of a closely watched experiment in universal basic income, the first led by a U.S. city.

Stockton, once dubbed “America’s foreclosure capital,” was the largest city to seek bankruptcy protection before Detroit’s 2013 filing. During the recession, unemployment soared toward 20 percent, and violent crime rose. Today, one in four residents lives below the poverty line, according to the U.S. Census Bureau.Now, as […]

RRSP-to-RRIF conversion deadline needn’t be so scary, experts advise

RRSP-to-RRIF conversion deadline needn't be so scary, experts advise

CALGARY — For Canadians who’ve made faithful contributions to an RRSP for most of their working lives, converting it to an RRIF may seem a terrifying milestone.

Overnight, your nest egg that has steadily grown for decades becomes a declining asset, with a government-mandated, taxable annual minimum withdrawal to ensure its gradual depletion.

Retired investors might decide they need to make big changes to the investment mix in their registered retirement savings plan (RRSP) to brace for the feared impact of its conversion to a registered retirement income fund (RRIF).At that time, it’s best to take a deep breath, talk to […]

Basic Income and Handouts for People Who Are “Unwilling to Work”

Basic Income and Handouts for People Who Are “Unwilling to Work”

Rep. Alexandria Ocasio-Cortez, D-N.Y., talks to MSNBC about “Democratic Socialism,” and capitalism. (Photo: Screenshot) When I wrote about Alexandria Ocasio-Cortez’s so-called Green New Deal, I mostly focused on the very expensive fiscal implications. I also noted that AOC’s proposed 70 percent tax rate on the rich wouldn’t even pay for a tiny fraction of the multi-trillion dollar cost.

In other words, you and I would be pillaged.

Others focused on some of the inane goals of the legislation, such as phasing out cows and air travel.But the part of the plan that produced the most controversy was the promise to provide […]

A California City Is Giving ‘No Strings Attached’ Money To Residents. Here’s Why.

A California City Is Giving ‘No Strings Attached’ Money To Residents. Here’s Why.

Stockton, California, is giving away money ― “no strings attached” — to more than 100 of its residents as part of a controversial experiment to combat poverty.

Mayor Michael Tubbs announced last year that the city would be collaborating with the Economic Security Project to see what kind of impact universal basic income (UBI) could have on the lives of the community’s most vulnerable citizens.

In its purest form, UBI refers to a fixed income that every adult would receive from the government. In Stockton’s case, a diverse group of about 130 adults who live in the city’s lower-income neighborhoods have […]

Idle hands a UBI workshop?

Idle hands a UBI workshop?

The idea of universal basic income (UBI) is gaining ground globally among liberals and conservatives, free-marketers and socialists. It is supposed to be the panacea for many societal ills. It is expected to rescue us not just from the failures and inequities of the market economy, but also from the inefficiencies and lethargies of the welfare state. It is expected to insulate us from the vagaries of technological change and protect us from robots, chat bots and globalisation.

UBI is projected to eradicate poverty, reduce inequality, simplify delivery of welfare benefits and, therefore, reduce related inefficiencies, eliminate leakages resulting from […]

Stockton, U.S. starts basic income trial after Finland’s trial

Stockton, U.S. starts basic income trial after Finland’s trial

Share Stockton, a city in the United States, with a population over 300,000, began an experiment of universal basic income from Friday. One hundred residents received an extra 500 U.S. dollars in their monthly salary for the next 18 months.

The recipients in the Stockton project will be able to spend the money distributed via pre-paid debit cards without strings attached, CNN reported on Saturday, noting researchers on this project will follow what categories the recipients spend the most in but not the actual purchases.

The whole project was backed with 1 million U.S. dollars donation from the Economic Security Project, […]