Category: Basic Income

Stockton Hoping ‘Guaranteed Income’ Program Will Help its Residents

Stockton Hoping ‘Guaranteed Income’ Program Will Help its Residents

STOCKTON — The city of Stockton is exploring how a guaranteed income could help its residents.

Stockton Mayor Michael Tubbs says the groundbreaking pilot program will offer select families $500 a month — no strings attached.

Each step Alex Lisitsin takes is a painful miracle because about a decade ago he says a drunk driver crashed into his car almost killing him.It’s also left him financially strapped.“Before I got in my accident, I was OK,” Lisitsin said.The Stockton grandfather says with $500 more a month he dreams of the simple things.“To get things going for myself,” he said.Lisitsin is like so […]

Stockton ‘No Strings Attached’ Funding Aims To Lift Poverty Burdens

Stockton ‘No Strings Attached’ Funding Aims To Lift Poverty Burdens

STOCKTON (CBS13) — Stockton Mayor Michael Tubbs is tackling poverty head-on by providing economic security for many households for at least one year as part of a new pilot program.

The mayor secured $1 million from a network of researchers, organizers and technologists who are committed to helping people succeed.

Like many residents in Stockton, the bulk of Yolanda Lopez’s hard-earned paycheck doesn’t go directly into her bank account. Instead, it goes somewhere else.“Pay the bills, usually, for food, for utilities and stuff,” she said.Under Stockton’s new SEED project, introduced by Tubbs, families like the Lopez’s won’t have to be strapped […]

Can a universal basic income work? Experts weigh in

Can a universal basic income work? Experts weigh in

The concept is gaining traction across the political spectrum AMHERST — The College of Social and Behavioral Sciences held a panel discussion on universal basic income (UBI) in the Commonwealth Honors College Events Hall at the University of Massachusetts Amherst on Monday.

While UBI proposals vary significantly, the basic concept is that every adult would receive a basic level of income each year directly from the government, just by virtue of being a citizen.

The panel included Connie Razza, the co-director of policy and research at Demos , a public policy organization, and Seth Ackerman, a member of the editorial board […]

Can a universal basic income work? Experts weigh in – Amherst Wire

Can a universal basic income work? Experts weigh in – Amherst Wire

Bryan Bowman AMHERST — The College of Social and Behavioral Sciences held a panel discussion on universal basic income (UBI) in the Commonwealth Honors College Events Hall at the University of Massachusetts Amherst on Monday.

While UBI proposals vary significantly, the basic concept is that every adult would receive a basic level of income each year directly from the government, just by virtue of being a citizen.

The panel included Connie Razza, the co-director of policy and research at Demos , a public policy organization, and Seth Ackerman, a member of the editorial board at Jacobin magazine, which describes itself as […]

Stockton to pilot ‘basic income’ experiment

Stockton to pilot ‘basic income’ experiment

STOCKTON — A consortium of policy experts, researchers and academics has awarded $1 million to Stockton to fund an experiment that aims to assess the social benefits of providing a guaranteed monthly income for one or more years to a tiny segment of the city’s residents, Mayor Michael Tubbs announced Wednesday.

Tubbs said the stipends will be awarded with no strings attached. The aim will be to ease the daily strain of barely scraping by that is experienced by the one-fourth of Stockton’s population that lives below the poverty line.

The mayor unveiled the initiative, dubbed the “Stockton Economic Empowerment Demonstration,” […]

A California city is launching the first US experiment in basic income — and residents will get $6,000 a year

A California city is launching the first US experiment in basic income — and residents will get $6,000 a year

Stockton, California Mayor Michael Tubbs is leading the charge on a basic income experiment in his recovering town. Steve Jennings/Getty Images Stockton, California is expected to become the first US city to launch an experiment in universal basic income.

For a period of three years, a select group of residents will receive $500 a month, no strings attached.

Stockton Mayor Michael Tubbs has studied basic income and believes it can be the solution to the lingering poverty in his city. Stockton, California is expected to become the first US city to launch an experiment in universal […]

Top startup investors see mounting ‘backlash’ against tech

Top startup investors see mounting 'backlash' against tech

Reuters LAGUNA BEACH, Calif., Oct 18 (Reuters) – Two of the technology industry’s top startup investors took to the stage at a conference on Wednesday to decry the power that companies such as Facebook Inc had amassed and call for a redistribution of wealth.

Bill Maris, who founded Alphabet Inc’s venture capital arm and now runs venture fund Section 32, and Sam Altman, president of startup accelerator Y Combinator, said widespread discontent over income inequality helped elect U.S. President Donald Trump and had put wealthy technology companies in the crosshairs.

The market capitalization of the so-called Big Five technology companies – […]

Finance: A California city is launching the first US experiment in basic income — and residents will get $6,000 a year

Finance: A California city is launching the first US experiment in basic income — and residents will get $6,000 a year

Stockton Mayor Michael Tubbs said that by August 2018 he hopes to enroll some of the city’s 315,000 residents in a basic income program. Stockton, California is expected to become the first US city to launch an experiment in universal basic income.

For a period of three years, a select group of residents will receive $500 a month, no strings attached.

Stockton Mayor Michael Tubbs has studied basic income and believes it can be the solution to the lingering poverty in his city. Stockton, California is expected to become the first US city to launch an […]

Basic Income for 100 Stockton Residents will be smaller than Oprah 276 car giveaway

Basic Income for 100 Stockton Residents will be smaller than Oprah 276 car giveaway

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 […]

FCA finds millions have no idea what pension they bought

FCA finds millions have no idea what pension they bought

By Damian Fantato A quarter of people who have accessed a defined contribution pension in the past two years do not know how they did so, according to a survey by the Financial Conduct Authority.

The Financial Lives survey, which was based on research involving 13,000 people, assessed the attitudes people have towards the financial services sector.

The research examined behaviour and attitudes towards pensions accumulation and decumulation.It found three in 10 people had bought an annuity in the past two years while one in five had bought into some sort of income drawdown arrangement. One in six took their whole […]