Category: Basic Income

Government planning cuts to pensions lifetime allowance to maintain triple lock

Government planning cuts to pensions lifetime allowance to maintain triple lock

The government is reportedly planning reductions to the pensions lifetime allowance to recoup costs in this Autumn’s Budget.

The Telegraph reports that “well-placed sources” have said that the Treasury is considering plans to change the way pension contributions are taxed, following a huge increase in public spending during the pandemic.

One proposal is to cut the pensions lifetime allowance (LTA) from £1,073,100 to £800,000 in the next Budget.In this year’s Spring Budget, the Chancellor pledged to freeze the current LTA rate at £1.073m until April 2026.However, changes to pension tax relief could allow the government to maintain the pensions triple lock. […]

Explained | Minimum Income Support, Universal Basic Income – where does India stand?

Explained | Minimum Income Support, Universal Basic Income - where does India stand?

Two successive waves of COVID-19 have severely battered the economy, pushing large segments of the urban migrant workers and rural poor towards poverty, as unemployment rises. As the debate over whether the government should start providing direct income support to raise consumption and dispense financial safety gathers momentum, a look at the two main ways it can be done, and the experiences from around the globe.

Rural women from Ajmer District, Rajasthan check their documents while queuing up to enter a bank branch. (Reuters) Should the government provide direct financial support to a citizenry pummeled by the pandemic, […]

Rural County’s New Universal Basic Income Experience – and the Arguments Against

Amid fears that advancements in technology may one day cut jobs, The Associated Press reports on a new experimental universal basic income program in upstate New York :

During the pilot program, funded by private donations, 100 county residents earning less than $ 46,900 per year will receive $ 500 per month for one year. The income threshold was based on 80% of the county’s median median income, meaning it includes both the poor and a portion of the middle class – people who face financial hardship but who might not normally be. eligible for government assistance based on […]

The Biden Budget’s Arithmetic Problem

The Biden Budget’s Arithmetic Problem

Many economists, including Lawrence Summers, have highlighted the risks of the budget’s fiscal profligacy, namely inflation. But going deeper, the budget creates structural fiscal risks by crowding out future spending on things unrelated to the Biden administration’s social agenda. It limits government flexibility to address future pressing needs without much larger tax increases than the budget proposes. And the plan’s focus on basic income rather than work is a step in the wrong direction. These risks can be addressed—and in a progressive manner—but this budget needs to return to the starting line.

To begin, the Biden budget would compromise the […]

Social experiment in Germany with a basic income of 1,200 euros for everyone

Social experiment in Germany with a basic income of 1,200 euros for everyone

Basic income of 1,200 euros for everyone?
This currently concerns the 122 participants in pilot program which started in Germany . A scientific and social experiment with interesting extensions

More than two million people applied, 122 were selected. From June 1, participants can receive 1,200 euros each month for three years. This is not a new law, but a pilot project to investigate the impact of a unconditional basic income to people who receive it.
As Jürgen Soup, head of pioneering research at the German Institute for Economic Research, explains: “We are currently investigating what happens when people have the potential […]

$500 Universal Basic Income Payments Tested in Upstate NY – NBC New York

$500 Universal Basic Income Payments Tested in Upstate NY – NBC New York

Annette Steele is not destitute or unemployed. But for a year she’ll be receiving $500 per 30 days in no-strings-attached funds as a part of an experimental common primary revenue program in upstate New York.

Places from Compton, California, to Richmond, Virginia, are attempting out assured revenue packages, which gained extra consideration after the pandemic idled tens of millions of staff.

Steele, a particular schooling college aide, is getting her funds by means of a program in Ulster County, which covers components of the Catskill Mountains and the Hudson River Valley.During the pilot program, funded by personal donations, 100 county residents […]

BCCI to form committee to compensate senior male domestic cricketers

BCCI to form committee to compensate senior male domestic cricketers

The BCCI’s apex council has said it will form a committee to formulate a plan to compensate "at the earliest" India’s senior male domestic players for the 2020-21 season, which was heavily truncated because of the Covid-19 pandemic.

Domestic cricketers across the 38 BCCI-affiliated state associations have suffered a substantial loss of income because of the pandemic. On an average, a domestic male cricketer who features in every game for his state across formats earns approximately INR 15-16 lakh a season. That has dipped to around INR 3-4 lakh in 2020-21, since the BCCI could organise only the national T20 […]

$500 Universal Basic Income Payments Tested in Upstate NY – NBC New York

$500 Universal Basic Income Payments Tested in Upstate NY – NBC New York

Annette Steele is not destitute or unemployed. But for a year she’ll be receiving $500 per thirty days in no-strings-attached funds as a part of an experimental common primary revenue program in upstate New York.

Places from Compton, California, to Richmond, Virginia, are attempting out assured revenue packages, which gained extra consideration after the pandemic idled tens of millions of employees.

Steele, a particular schooling faculty aide, is getting her funds via a program in Ulster County, which covers elements of the Catskill Mountains and the Hudson River Valley.During the pilot program, funded by personal donations, 100 county residents making lower […]

Elimination of Iran’s Workers and Retirees’ Wages With the So-Called “Save Iran” Plan

Elimination of Iran’s Workers and Retirees’ Wages With the So-Called “Save Iran” Plan

Iran’s workers and retirees in Iran are forced to protect themselves from the government and its institutions’ looting plan which are destroying their lives.

Now there is news that nearly 60 of the regime’s MPs have put their signatures on the programs of the ‘Regional wages and agreed wages ’ which will destroy the workers’ lives.

Then regime’s institutions that determine the economic lines of the country consider the ‘saving Iran’ plan an ‘adjusting’ and ‘progressive’ plan.So, if the regime’s next government accepts the plan of the Chamber of Commerce which they call the ‘saving Iran’ plan which is supporting and […]

A Guaranteed Income to Reduce Poverty?

A Guaranteed Income to Reduce Poverty?

Credit…Peter van Agtmael/Magnum Photos To the Editor:

Ezra Klein’s column explains why I tip McDonald’s cashiers. I loved McDonald’s when my mother, my sister and I made after-school visits there in the late 1960s, and I loved it still when an ersatz retirement celebration was held there 40 years later.

Clearly I’m not likely to abandon McDonald’s, but neither can I happily collect my iced tea and French fries knowing what most of their frontline cashiers are paid.One day, organized advocacy and overdue legislation will ensure that they and like workers earn a living wage. Until then, I’ll make up […]