One of the most audacious ideas currently gaining favor among American progressives is the idea of a Universal Basic Income (UBI). UBI is a guarantee of money to every citizen in a population – no-strings attached.
The only UBI that exists in its purest form is in Alaska, where it is known as the Permanent Fund Dividend. In 1976, the State of Alaska began investing oil royalties into a rainy day fund. In 1980, the Alaska Legislature approved an annual dividend to all Alaskans from the earnings off of that fund, which continues to this day. There are no requirements, […]
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