Category: Basic Income

KT edit: Support the poor

Supporting poor households with universal basic income could perhaps offer some solutions and lead to placing children into the classrooms thereby allowing future generations to thrive

The World Bank Group along with the UN Children’s Fund in a recent analysis gave a sobering reminder of the dire conditions under which a massive number of children are living in around the world. Over 356 million children, the report says, lived in extreme poverty before the Covid-19 pandemic. That is, one in six children globally, and needless to say, the number is set to worsen significantly in coming months. Eradicating […]

Basic income for all

Basic income for all

Doing some quick google searches, government taxes collected in 2018 were about 225 billion. Another google search suggests that the 2020 deficit is projected to be 340 billion. So every personal and corporate tax rate at every bracket would need to go up 50% for 2020 if we wanted money to be ‘fine’

Might not work out quite like that because the free money being handed out is all taxable itself.. But theoretically most of the free money is given to people who are in the lower tax brackets or possibly non taxable.

I’ve suggested before that the people who really […]

City Debit Card Program Gets Leg Up from Radical Politics

Who says radical socialists don’t have a heart?

Apparently no one in Chelsea, as anonymous donors supporting the fringe-idea of a Universal Basic Income for all people stepped up to help fund two months of food payments for the upcoming Chelsea Eats food debit cards, at a cost of $750,000 per month.

City Manager Tom Ambrosino said Chelsea Eats has nothing to do with Universal Basic Income, nor is it “free money” as has been reported in Boston media outlets, but whatever the source of funds, he’ll take it.“There are some folks who believe in this philosophy that have stepped forward,” […]

California’s Compton Rolls Out Basic Income Program – Should Other States Follow Suit?

California’s Compton Rolls Out Basic Income Program – Should Other States Follow Suit?

The California city of Compton will launch a guaranteed income program for its low-income residents, including illegal immigrants and formerly incarcerated people, Mayor Aja Brown said.

Compton is rolling out a pilot program called the Compton Pledge to distribute recurring cash payments from USD 300 to USD 600 to nearly pre-verified 800 residents over two years starting in late 2020.

”Ensuring all people are able to live with dignity is something we should all strive for in America,” Mayor Brown said in a statement.It is said to be the most extensive city-led guaranteed income program nationwide. According to the city officials, […]

Compton to select 800 low-income residents to receive ‘guaranteed income’ for a 2-year pilot program

Compton to select 800 low-income residents to receive ‘guaranteed income’ for a 2-year pilot program

The mayor of Compton, California, has told the Los Angeles Times that she is launching a pilot program with a local non-profit that will give 800 residents a “guaranteed income” over the next two years.

Compton Mayor Aja Brown told the Times that a non-profit called the Compton Pledge would select 800 low-income residents and distribute a “guaranteed income” to them for the next two years.

According to the Times, the participants will be selected from a “pre-verified” list of low-income families in the area. Over the span of two years, the Compton Pledge plans to provide the families with “at […]

Ep. 35 Facebook Founder, Chris Hughes, Makes the Case for Guaranteed Income

On today’s Catalysts for Change, Jill talks to Chris Hughes, co-founder of Facebook and co-chair of the Economic Security Project. As the Shah Foundation begins to support a new guaranteed income program in Chelsea MA , Chris’s work with the Economic Security Project and focus on guaranteed income is relevant and important to understanding guaranteed income initiatives.

Chris’s work with the Economic Security Project focuses on supporting policies and initiatives for guaranteed income, which provides individuals with a set amount of money. As co-founder of the Economic Security Project, he has led work to rewrite federal and state tax codes […]

What is a defined benefit pension?

What is a defined benefit pension?

Providing a secure and stable income in retirement, defined benefit pensions are considered one of the best types of pension to have

A defined benefit pension plan, also known as a final salary pension, is a type of workplace pension in which the amount you receive in retirement depends on the number of years you have worked for your employer and your final salary.

How much you get is determined by the rules of your pension scheme, rather than investments or the amount you’ve paid in. How does a defined benefit pension work? If you’re lucky enough to have a […]

Everywhere basic income has been tried, in one map: Kenya; Iran; Alaska; Stockton, California; and more

The idea of a basic income was, for decades, something of a policy fantasy. But the last few years have seen it become less outlandish, to the point where we now have many limited basic income programs up and running around the world — perhaps a dry run for a broader embrace of the policy in the coming years.

The general idea — that the government should give every citizen a regular infusion of free money with no strings attached — has been around since the 16th century. But it’s recently experienced a remarkable resurgence: Advocates ranging from tech billionaire […]

Compton to launch largest Guaranteed Income program in the nation

Compton to launch largest Guaranteed Income program in the nation

Compton Mayor Aja Brown has announced that 800 Compton residents will take part in the Compton Pledge which will provide some of the city’s most vulnerable residents with a few hundred dollars per month at no cost to the taxpayers.

“I’m honored to work with an incredible team of warriors for equity, access and justice for all,” said Brown. “We’re launching a Guaranteed Income Pilot to provide monthly cash payments to 800 Compton residents for two years.” Private donors have contributed $2.5 million to the Fund for Guaranteed Income, a charity headed by Nika Soon-Shiong, daughter of Los Angeles Times […]

California city to give 800 residents free cash in the country’s largest guaranteed income program

California city to give 800 residents free cash in the country's largest guaranteed income program

The mayor of Compton announced Monday that the California city will be giving recurring cash payments to hundreds of its low-income residents starting later this year.

The pilot program, called the Compton Pledge, guarantees cash payments between $300 and $600 to a group of 800 "pre-verified" residents each month for two years and access to free banking services. The money is available for "irregularly or informally employed residents, immigrants of varied legal status, and the formerly incarcerated," according to a statement from Mayor Aja Brown .

“I know firsthand what guaranteed income could have done for my mother," Brown said. "People […]