Tag: basic income

Understanding the Case for Universal Basic Income

Despite the fact that we are nearing the ninth year of a global economic recovery, poverty remains a problem.

In the United States alone, recent numbers from the Census Bureau show the rate to be just under 13% with more than 40 million people considered to be living in poverty.

Globally, more than 1.3 billion live in extreme poverty, meaning they subsist on less than $1.25 a day.While there are no easy fixes, there are a few ideas that have been tossed around. Some that have been tried and proven—at least on a small scale—like the concept of Universal Basic Income […]

Video: Californian City Experiments With Universal Basic Income…

Video: Californian City Experiments With Universal Basic Income…

Leftists love to tinker around with economics . They’ve spent over a century trying to figure out just the right recipe to eradicate poverty. Well, everything except getting off mom’s couch, getting a job, and not blowing your entire paycheck on Tide Pods. Which brings us to now. A Californian town is experimenting with a new system to address poverty. I give you socialism “universal basic income.” Michael Tubbs, the 26-year-old mayor of Stockton, California, thinks handing out $6,000 a year to low-income residents (with no strings attached) is the way to lift people out of poverty.

“Stockton is absolutely […]

Against a universal basic income

Against a universal basic income

For some sections of the radical and not-so-radical left, the idea of universal basic income (UBI) is the new utopian program. A UBI is a periodic minimum income guaranteed to all citizens, regardless of their employment, wealth, or domestic status. In other words, it’s a no-strings-attached state wealth transfer, a price-tagged right for precariat and tech billionaire alike.

But there’s a reason why UBI has proponents among the libertarian right , why Elon Musk and Mark Zuckerberg support it. We should see UBI as the warmed-up death of Keynesian welfarism, and see the historical pattern: the original welfare state was, […]

IRS retirement plan limits aren’t affected by new tax law

IRS retirement plan limits aren’t affected by new tax law

The Internal Revenue Service said Tuesday that the Tax Cut and Jobs Act of 2017 won’t affect the tax year 2018 dollar limitations for retirement plans the IRS had announced last year.

Last year, the IRS announced the retirement and pension plan limitations in IR 2017-177 and detailed them in Notice 2017-64 (see IRS increases retirement plan contribution limits for 2018 ).

The IRS has been providing guidance on the new tax law amid questions from tax professionals and taxpayers alike on what impact it will have this year. Tuesday’s announcement helps clarify one of the issues perplexing some practitioners. It […]

‘Common primary earnings‘ spreads, even amongst ‘conservatives‘

Stockton, California, went bankrupt just six years ago, but that isn’t stopping the Central Valley city from experimenting with a new scheme to redistribute taxpayer money.

It’s called “universal basic income,” or UBI, and soon Mayor Michael Tubbs will be overseeing a pilot project in which low-income residents get handed $500 a month, no questions asked.

“I feel that as mayor it’s my responsibility to do all I could to begin figuring out what’s the best way to make sure that folks in our community have a real economic floor,” Tubbs explained.The advocates of the plan make no bones about the […]

California city on the cusp of instituting communism, devaluing citizens

California city on the cusp of instituting communism, devaluing citizens

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“Universal basic poverty” is now being promoted as a golden experiment for the City of Stockton

insert picture How the American Dream has cheapened to the point of believing a $500 a month giveaway will save a bankrupt city is outside the realm of reason. Yet this is what the disordered mind of a California city’s mayor is promoting.Last year, we heard the resurgence of a communist-based concept, “ universal basic income ” infiltrate the discussions about the budget when it came before Congress. Touted as compassionate, the idea of guaranteeing […]

Struggling California city prepares to experiment with ‘universal basic income’

Struggling California city prepares to experiment with ‘universal basic income’

Michael Tubbs, the 26-year-old mayor of Stockton, California, thinks handing out $6,000 a year to low-income residents (with no strings attached) is the way to lift people out of poverty.

“Stockton is absolutely Ground Zero for a lot of the issues we’re facing as a nation,” Tubbs told CBS San Francisco (video below). “Ideally, I would like to serve 100 families for 18 months at $500 a month.” Michael Tubbs, the 26-year-old mayor of Stockton, California, supports a “universal basic income” of handing out $6,000 a year, no strings attached. (screenshot) Stockton is experimenting with a welfare program called “universal […]

Meet newest way for government to give away your money

Meet newest way for government to give away your money

Stockton, California, went bankrupt just six years ago, but that isn’t stopping the Central Valley city from experimenting with a new scheme to redistribute taxpayer money. It’s called “universal basic income,” or UBI, and soon Mayor Michael Tubbs will be overseeing a pilot project in which low-income residents get handed $500 a month, no questions asked.

“I feel that as mayor it’s my responsibility to do all I could to begin figuring out what’s the best way to make sure that folks in our community have a real economic floor,” Tubbs explained.

The advocates of the plan make no bones about […]

Stockton, California, to Test Universal Basic Income Program

Stockton, California, to Test Universal Basic Income Program

Later this year, the city of Stockton, California, will begin giving a select group of poor residents $500 a month in an experimental program to test the effects of giving people a universal basic income, or UBI. Though this initial program, which will run for a period of 12-18 months, will be funded by a million-dollar private grant from a tech group called the Economic Security Project, it will involve only 100 families in a city of city of 300,000 people where one in four residents lives below the official poverty line. That means as many as 75,000 people […]

Learn from disabled people to reshape economics

Learn from disabled people to reshape economics

Want to radically rethink the concept of work? Start talking to disabled people. As vitally important as the case for a universal basic income is, as Larry Elliott observes ( Robots will take our jobs. We’d better plan now, before it’s too late , 1 February), a debate that focuses solely on the concept of paid work will only take us so far, and fails to acknowledge the millions of disabled people, as well as millions of carers, who go unpaid for the work they do every day.

When it comes to the end of work as we know it, […]