Category: Basic Income

Mastering IELTS Writing Task 2: Sample Essays on Universal Basic Income for Band 6, 7, and 8

Universal basic income (UBI) has become a hot topic in recent years, frequently appearing in IELTS Writing Task 2 questions. Based on past exam trends and current socio-economic discussions, it’s highly likely that this subject will continue to be featured in future IELTS tests. Let’s explore a relevant question and analyze sample essays for different band scores. Some people think that governments should provide a universal basic income to all citizens, regardless of their employment status. Others believe this would be too expensive and lead to a less motivated workforce. Discuss both views and give your own opinion. Table […]

Universal Basic Income Proposals

The challenges posed by the AI digital divide necessitate a robust discussion on economic redistribution and the implementation of universal basic income (UBI) as a viable solution. Economic Redistribution

Economic redistribution is essential to mitigate the growing income inequalities exacerbated by automation. Progressive taxation and wealth redistribution strategies can help alleviate the financial burdens faced by those displaced by technological advancements. By ensuring that wealth generated through automation is shared more equitably, we can foster a more inclusive economy. Progressive Taxation : Implementing higher tax rates on the wealthiest individuals and corporations can generate revenue for social programs. This […]

How Does Guaranteed Income Impact Artists’ Lives?

How Does Guaranteed Income Impact Artists’ Lives?

"In this painting, I am expressing my inner world and sentiments," wrote painter Athesia Benjamin, who made this work while participating in the guaranteed income program. (all images courtesy Creatives Rebuild New York) Early findings from a guaranteed income program for artists across New York State reveal that such initiatives can provide crucial support for artists’ financial stability, professional advancement, and individual well-being.

While more comprehensive results are slated to be released at the end of the year, preliminary outcomes show that when artists receive guaranteed income, they generally concentrate on addressing outstanding debt, bills, and increasing their personal savings. […]

AI will replace 80% of jobs in 80% of occupations, says Silicon Valley billionaire

AI will replace 80% of jobs in 80% of occupations, says Silicon Valley billionaire

Yet another Silicon Valley billionaire has predicted that most jobs will be replaced by artificial intelligence (AI), whether you work on a farm or in sales. “I estimate that 80% of 80% of all jobs, perhaps more, can be done by an AI,” warned famous investor and entrepreneur Vinod Khosla.

Khosla, co-founder of Sun Microsystems in 1982 and investor in companies such as Netscape, Amazon and Google, highlighted that AI can replace professionals in different areas, including doctors, psychiatrists, salespeople and engineers. In an extensive blog post, he explained that he has spent the last four decades studying disruptive technologies […]

Magic City Newsmakers: Chase, Harley-Davidson, Catholic Extension Society and more

Magic City Newsmakers: Chase, Harley-Davidson, Catholic Extension Society and more

Good works

A look into news from the metro area’s nonprofits and good works and philanthropic outreach from local businesses.

The fourth annual C.M. Newton Classic , a neutral-site basketball game, launches the Legacy Builder campaign for a third year. This campaign focuses on highlighting local nonprofits which are building legacies focused on diversity and inclusion initiatives, following in C.M. Newton’s footsteps. Local businesses can nominate Birmingham-area nonprofits for their work in diversity and inclusion. Those who nominate an organization will be asked to complete a brief questionnaire about the organization, explain the organization’s programs and mission, […]

AIICO eyes secure, stronger retirement for annuitants

AIICO eyes secure, stronger retirement for annuitants

Babatunde Fajemirokun, MD/CEO of AIICO Insurance Plc AIICO Insurance Plc said it has what it takes to guarantee a stronger and secure future for its annuitants who have handed their investments to them for a pleasant retirement life.

AIICO said it disburses about N1.3 billion per month on pensions, ensuring that each one of the retirees receives a guaranteed income stream, regardless of market fluctuations.

Babatunde Fajemirokun, managing director/CEO stated, “At AIICO, we don’t just provide products, we provide security, stability, and a future that allows you to thrive. Our commitment goes beyond paperwork and contracts; see our roles as helping […]

AIICO strengthens bonds with retirees at annual Annuitants’ Forum

AIICO strengthens bonds with retirees at annual Annuitants’ Forum

AIICO strengthens bonds AIICO Insurance declares N12bn profit after AIICO Insurance’s annuity disbursements hit N1.3bn monthly AIICO Insurance Plc has shown its determination to support and nurture a strong relationship with those who have entrusted on the company their financial security in retirement during its second edition of Annuitants Forum.

The company reaffirmed its commitment to the wellbeing of its annuity customers, primarily retirees, by hosting an engaging interactive forum.

AIICO also provided free health checks and investment tips at the forum, demonstrating its holistic approach to the welfare of its esteemed customers in this important phase of life as part […]

Losing talent to AI

Losing talent to AI

Artificial intelligence systems develop skill for deception, experts warn Pakistan is at a crucial juncture, facing both a growing brain drain and the global impact of artificial intelligence (AI)-driven job displacement. While AI transforms industries and automates jobs, some nations are turning to universal basic income (UBI) as a safety net.

Geoffrey Hinton, the “godfather of AI”, has warned that without such measures, AI could deepen inequality, benefiting only the wealthy. Unfortunately, despite its efforts, Pakistan has yet to adopt economic security strategies like UBI, and its slow adoption of AI threatens to unravel its economic and social fabric. Artificial […]

Oregon businesses are spending millions to oppose a ballot measure that would give every resident a $1,600-a-year basic income

Oregon businesses are spending millions to oppose a ballot measure that would give every resident a $1,600-a-year basic income

Oregon businesses are spending big to oppose a ballot measure that would tax corporations and give residents $1,600 a year in a rebate program that is similar to a universal basic income.

And lawmakers, both Democrats and Republicans, seem to agree. They say the ballot measure is riddled with problems and could crater the state’s budget.

Whether the state adopts Oregon Measure 118, however, will ultimately be up to the voters.Also called the Oregon Rebate, the measure would increase the state’s minimum corporate tax rate by 3% after a company makes $25 million in in-state revenue. Then, it would distribute that […]

Oregon businesses are spending millions to oppose a ballot measure that would give every resident a $1,600-a-year basic income

Oregon businesses are spending millions to oppose a ballot measure that would give every resident a $1,600-a-year basic income

Oregon voters will decide on a corporate tax increase that could give residents a universal basic income.Grace Cary/Getty Images Oregon residents will soon vote on a corporate tax increase to give them a universal basic income.

Businesses have spent millions to oppose the 3% tax on corporate sales over $25 million.

Both Democrats and Republicans say the measure could harm the state budget and essential services. Oregon businesses are spending big to oppose a ballot measure that would tax corporations and give residents $1,600 a year in a rebate program that is similar to a universal […]