Category: Basic Income

One of the fiercest champions of Universal Basic Income calculated how much we’d all get if QE was paid in cash handouts to citizens instead

One of the fiercest champions of Universal Basic Income calculated how much we’d all get if QE was paid in cash handouts to citizens instead

DAVOS — Professor Guy Standing today told the World Economic Forum that each person in Britain could have received a state income of £50 per month if the Bank of England’s four-year £375 billion quantitative easing plan had been paid out as a universal basic income (UBI) instead.

Standing, a professor at the University of London, is a leading advocate of a UBI, a scheme by which every resident of a country would receive a regular state payment regardless of working status.

Americans may have been even better off. Standing estimates that if the US Federal Reserve’s $475 billion in QE […]

Holyrood to look at Universal Basic Income as calls rise to emulate Finland

Holyrood to look at Universal Basic Income as calls rise to emulate Finland

Scottish Parliament to look into feasibility of a universal basic income

A UNIVERSAL BASIC INCOME will be investigating and debated on by politicians in the Scottish Parliament in March this year by the social security committee.

Most of the committee’s work this year will be looking at how to apply the new welfare powers devolved under the terms of the Smith Commission but it will also study the cost and practical ease by which a UBI could be implemented.The news follows the trials of the UBI in Finland, the Canadian province of Ontario and the Dutch cities of Groningen, […]

Populism flourishes as election clock ticks down

Presidential contenders from left, Seongnam Mayor Lee Jae-myeong; Seoul Mayor Park Won-soon; former leader of Democratic Party of Korea Moon Jae-in; Gyeonggi Province Governor Nam Kyung-pil and Bareun Party lawmaker Yoo Seung-min. / Korea Times file By Lee Han-soo

As Korea’s presidential poll clock ticks down, populist campaign pledges from contenders are flooding the media.

But many experts have branded the promises from conservative and progressive parties unrealistic. This is what the critics are saying:Minimizing military conscriptsTwo opposition contenders and one conservative hopeful have pledged to decrease or abolish mandatory conscription in the hope of garnering the votes of young adults.With […]

Finland pilots radical basic income idea despite feasibility doubts

* Finland first to pay basic income in Europe

* 2,000 Finns get 560 euros a month for two years

* Jobless recipient can’t believe his luck* Plan will help tackle "welfare trap" – government* Critics denounce it as unrealistic, political trickBy Jussi Rosendahl and Tuomas ForsellHELSINKI, Jan 18 (Reuters) – A group of unemployed Finns have just become the first Europeans to enjoy a guaranteed basic income; from January a monthly pay cheque has begun arriving from the state, regardless of whether they find work or sit at home on the couch.In its purest form, the basic income idea aims […]

Holyrood committee to hear evidence on universal basic income

Holyrood committee to hear evidence on universal basic income

Committee: The Greens welcomed the plan. (file pic) A Holyrood committee plans to examine the feasibility of introducing a universal basic income.

The Scottish Greens have argued in favour of the citizen’s income payments, which hand out a minimum amount to all residents unconditionally.

The Scottish Parliament’s Social Security Committee will take evidence from experts at a meeting in March.The committee will consider what level of basic income is sufficient, how it could be funded, and whether it could work in Scotland based on the current devolved powers.Those giving evidence on March 9 include the Centre for Research in Social […]

MSPs to take evidence on Universal Basic Income

MSPs to take evidence on Universal Basic Income

A Holyrood committee plans to examine the feasibility of introducing a universal basic income.

Scottish Greens have argued in favour of the citizen’s income payments, which hand out a minimum amount to all residents unconditionally.

The Scottish Parliament’s Social Security Committee will take evidence from experts at a meeting in March.The committee will consider what level of basic income is sufficient, how it could be funded, and whether it could work in Scotland based on the current devolved powers.Those giving evidence on March 9 include the Centre for Research in Social Policy director Professor Donald Hirsch, Reform Scotland advisory board member […]

Jobless dad-of-six welcomes Finland’s basic income trial

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Helsinki (AFP) – For just one hour of work, Juha Jarvinen had to fill out piles of paperwork only to see his unemployment insurance docked. But with Finland’s universal basic income test, he’s hoping for a fresh start.

As of January 1, a two-year experiment will see 2,000 unemployed Finns receive a monthly unconditional payment of 560 euros ($590).If the test is successful, the plan will be rolled out nationwide, though the exact amount and conditions remain vague at this stage.Finland’s pro-austerity, centre-right government wants to test whether the guaranteed income, perhaps […]

City wants in on basic income

City wants in on basic income

An aerial view of Pembroke’s City Hall and the Muskrat River. Photo submitted by Jim Childerhose. When it comes to the basic income pilot project, Pembroke wants in.

On Tuesday, Mayor Michael LeMay approached council members, seeking their blessing to offer up the community as a candidate for the upcoming Ontario program, when it becomes a reality.

“Ontario’s proposed basic income pilot project is presently undergoing public input throughout the province,” he said, noting the government intends to have a plan ready for the pilot sometime this spring. Some of the questions being asked include who should be eligible, what the […]

Another article about robots and basic income

Another article about robots and basic income

So this article (link and text pasted at bottom) is from CBS, one of the branches of main-stream media. European governments are mulling a basic income since so many people are bound to be replaced by robots in the upcoming decade.

I have been wondering a few things.

> The whole point of developing machines is to eliminate the need for humans to do labor. Look at how the invention of many domestic appliances freed women up to join the workforce. The whole point of earning money is to exchange that money for various goods and services. Therefore its […]

The Dangers of a “Universal Basic Income”

What a mess.

>"The progressive taxation that is necessary to finance a UBI means that the more a person earns, the higher percentage of their wealth will be taken from them. The work disincentives are therefore still very much present in the tax system."

I don’t know if Finland does it as well, but this completely ignores how US tax brackets work. There’s never a point where going up a tax bracket means you’d take home less money than you would have before your raise.>"The struggling entrepreneurs and artists mentioned earlier are struggling for a reason. For whatever reason, the market […]