Category: Basic Income

Point & counterpoint | Universal income: Richard Morrison – Evidence doesn’t back ‘basic income’ promises

Point & counterpoint | Universal income: Richard Morrison - Evidence doesn't back 'basic income' promises

The financial dislocations of the COVID-19 pandemic and the unprecedented cash benefits that policymakers implemented in response have sparked renewed interest in an old idea: a universal basic income for all Americans. Last proposed and debated seriously in the 1970s, it would provide every adult in the United States with a cash payment every year with no requirement to work. While this unrestricted handout often scores high in polls, it would be a terrible idea for both idealistic and practical reasons.

Perhaps most important, severing the connection between work and income would create the illusion that the benefits received are […]

Pittsburgh Controller Lamb questions outgoing Mayor Peduto’s federal relief proposal

Pittsburgh Controller Lamb questions outgoing Mayor Peduto's federal relief proposal

Jun. 30—Pittsburgh’s top fiscal watchdog Wednesday questioned the timing of a four-year plan released Monday by outgoing Mayor Bill Peduto’s administration for the city’s $335 million federal pandemic relief money.

"I think it’s premature for the mayor to suggest a four-year spending plan when there’s going to be a new mayor in six months," Controller Michael Lamb said.

He also questioned a $2.5 million proposed allocation to OnePGH which would fund a pilot guaranteed personal income program. OnePGH is a new standalone entity created by the administration in April that’s been touted as a way for the city to receive more […]

Prioritizing People to Build Back the Economy

Prioritizing People to Build Back the Economy

The pandemic has highlighted the harsh realities of food insecurity, lack of income and inadequate public health infrastructure. But these issues are not new, nor are they limited to one nation. With the Democrats now in control of the White House and Congress for the first time in a decade, we have the opportunity to establish programs that help people thrive long after the pandemic ends.

Though one of us is from Detroit, Mich., and the other from São Paulo, Brazil, our cities share common challenges, including income inequality, housing precarity and diminished public services. Longstanding programs designed to assist […]

LGBTQ+ Consumers Have High Retirement Savings Goals: Survey

LGBTQ+ Consumers Have High Retirement Savings Goals: Survey

What You Need to Know

LGBTQ+ respondents feel they should save 20% of their salary for retirement, vs. 15% for the broader population, Lincoln Financial Group found.

They are also more likely to have increased their retirement plan contribution rate in the last year. Fifty-four percent of LGBTQ+ savers are interested in an in-plan income solution, vs. 46% of the broader population. Members of the LGBTQ+ community feel that they should save a median 20% of their annual salary for retirement, compared with 15% for the broader population, according to a survey released this week by Lincoln Financial […]

New Worldcoin Promises To Give Cryptocurrencies In Exchange For Eyeball Scans

New Worldcoin Promises To Give Cryptocurrencies In Exchange For Eyeball Scans

A new cryptocurrency called Worldcoin is planning to give cryptocurrency to everyone around the world in exchange for a scan of their eyes.

IMAGE: SHUTTERSTOCK

A new cryptocurrency startup called Worldcoin is promising to provide cryptocurrencies to everyone in exchange for a scan of their eyeballs. The news sounds strange but it’s true. Worldcoin is a cryptocurrency project headed by Sam Altman and Alexander Blania, that aims to spread money around equitably to people around the world. Read on to know more about Worldcoin and their plan to give cryptocurrency in exchange for an eyeball scan. Worldcoin to give people […]

Basic Income: High Praise but Poor Results

Handing out taxpayer dollars in the form of basic incomes is the latest policy rage. The Los Angeles Times reports there’s “a growing enthusiasm for basic income programs.” Vox says “guaranteed income is graduating from charity to public policy.” At KQED , they’re giving Oaklanders tips on how they can apply for the city’s guaranteed basic income pilot program.

But enthusiasm nor a “graduation” in opinion is the basis for sound public policy.

Stockton was the first city in the country to experiment with an income program funded by other people’s money. For two-and-a-half years, $500 debit cards were sent every […]

[Column] Meritocracy stops us from evolving

[Column] Meritocracy stops us from evolving

A true meritocracy is created when all citizens are guaranteed universal welfare and a basic income so that they can all start out in a similar place By Lee Ju-hee, sociology professor at Ewha Womans University Over 30 years ago, the authoritarian regime in South Korea came to a close with the June 29 Declaration of 1987. The democracy that it ushered in was incomplete. The New York Times sarcastically noted that the hard-won election resulted in a new president who probably would have been elected anyway without so much resistance or amendment of the Constitution. This was made […]

Child Tax Credit: What Does The Updated Credit Mean For Families?

Child Tax Credit: What Does The Updated Credit Mean For Families?

( CBS Miami ) — The revised Child Tax Credit is about to take effect. Starting July 15, most parents will receive a monthly payment of up to $300 per child, courtesy of the American Rescue Plan. That extra money, like recurring stimulus checks, can really add up, especially for families on the low end of the income spectrum. It may even be the difference between eating and not eating or paying and not paying rent.

The enhanced Child Tax Credit will be available to about 39 million families, accounting for 65 million children, according to the Biden administration. That […]

Difficult to attract staff than visitors to Italian tourist hotspots

Difficult to attract staff than visitors to Italian tourist hotspots

People are sitting in a restaurant in Matera, Italy, on June 28, 2021. Photo taken on June 28, 2021. REUTERS / Yara Nardi

June 29, 2021

Angelo AmanteRome (Reuters) – Coronavirus curbs have been eased and tourists have returned, but Italian restaurants and hotels are facing unexpected problems. They can’t find staff.Mario Draghi’s unified government expects a strong backlash from Italy’s most severe recession since World War II last year, with tourism leading the EU’s new COVID-19 pass this summer. I’m hoping to do it.However, new hiring difficulties, reflecting reports of chronic labor shortages in the US, UK and Australian hospitality […]

Is a universal basic income ‘too expensive’ for the UK?

Is a universal basic income ‘too expensive’ for the UK?

Campaigners and politicians disagree over whether a universal basic income could life people out of poverty in the UK. Image: cottonbro/pexels A group of senior MPs have backed the UK government’s decision to not introduce a universal basic income to alleviate poverty, despite calls for trials by campaigners and an upcoming pilot in Wales.

The Work and Pensions Committee said a universal basic income (UBI) would be “extremely expensive” and urged the UK government to focus on ensuring universal credit meets basic needs in a report into the future of work.

The MPs said “it was vital for people who find […]