Tag: basic income

A few unemployed Finns are receiving a monthly check with no strings attached—but it’s unlikely to tell us whether universal basic income is a good idea.

Finland has become the first European country to implement a basic income. In a small experiment, 2,000 of the around 213,000 people in the country who are currently unemployed have been selected to receive 560 Euros (about $587) a month as part of their benefits package, according to the Guardian .

The aim of the experiment is to see whether guaranteeing a baseline income for people without jobs will spur them back to work. Finland’s […]

Full Post at www.technologyreview.com

Helsinki – Finland has become the first nation to pay some of its unemployed citizens an unconditional monthly universal basic income (UBI), a benefit that continues even after they find work.

Deutsche Welle reports beginning this month some 2,000 unemployed Finns will receive monthly payments of €560 ($584) with no strings attached. Recipients will pay no tax on the UBI, and the tax-free payments will continue even after they find jobs. They will be randomly chosen from a pool of 25-58 year-olds who received government unemployment benefits in November 2016. Marjukka Turunen, head of legal affairs for Kela, the Finnish […]

Full Post at www.digitaljournal.com

Finland’s Social Insurance Institution, or Kela, announced on Monday the launch of an experiment designed to test the potential effects of a universal basic income (UBI). Given that the program is in its earliest stages, however, it is far from "universal": 2,000 participants who were randomly selected from the country’s working-age (25 to 58), unemployed population will receive a basic income of €560 ($581) per month through the end of 2018.

Universal basic income is an old idea – Thomas Paine discussed it in the 18th century – but it has received renewed attention in recent years as automation threatens […]

Full Post at www.investopedia.com

A street in Helsinki, Finland. (Photo: Flickr Creative Commons) Finland has become the first nation to pay some of its unemployed citizens an unconditional monthly universal basic income (UBI), a benefit that continues even after they find work.

Deutsche Welle reports beginning this month some 2,000 unemployed Finns will receive monthly payments of €560 ($584) with no strings attached. Recipients will pay no tax on the UBI, and the tax-free payments will continue even after they find jobs. They will be randomly chosen from a pool of 25-58 year-olds who received government unemployment benefits in November 2016.

Marjukka Turunen, head of […]

Full Post at morallowground.com

Finland is trying out a universal basic income experiment. Universal Basic Income: Finland to Pay Some Residents $587 a Month The universal basic income experiment will give 2,000 citizens in Finland $581.48 per month to live on. The members of the experiment range in age from 25 to 58. As part of the experiment, they no longer receive other social benefits from the country.

Finland’s universal basic income experiment will last for two years. The 2,000 people that are taking part in the experiment are unemployed. However, they will continue to receive the monthly payment even if they get a […]

Full Post at investorplace.com

FILE – In this Saturday, Nov. 19, 2016, file photo, President-elect Donald Trump and Andy Puzder, chief executive of CKE Restaurants, shake hands as Puzder leaves Trump National Golf Club Bedminster clubhouse in Bedminster, N.J. Trump has tapped Puzder as his pick to head the Labor Department. TrumpÄôs election as president has made many small business owners more upbeat about 2017. Many owners are more confident because their revenue looks to increase in 2017 due to the overall improving economy. TheyÄôre also optimistic because they expect Trump to deliver on promises to lower taxes and roll back regulations including […]

Full Post at www.thetelegram.com

Some 2,000 unemployed Finnish citizens will begin to receive a monthly stipend that is not tied to their employment status, marking one of the world’s first forays into universal basic income, which could have groundbreaking implications for how nations combat income inequality.

The randomly selected Finns will receive €560, or around $587, each month for the next two years – even if they find regular, steady jobs or rake in extra cash by participating in the gig economy. If the program proves successful, Finland may expand it to include all adults, believing the shift could mean long-term savings for the […]

Full Post at sports.yahoo.com

14:15 Tuesday 03 January 2017 Scotland is set to pilot a radical scheme to give every citizen a universal basic income (UBI), regardless of whether they work or not.

Two Labour-run councils, Fife and Glasgow, are designing trial schemes following meetings held late last year.

What level the basic income would be set at is yet to be announced, but the councils are to go ahead with the pilots, subject to sufficient funding being secured.Under UBI, welfare benefits such as working tax credits, Jobseekers’ Allowance and state pensions are replaced by a single, unconditional flat-rate payment, regardless of whether […]

Full Post at www.inverurieherald.co.uk

Finland just became the latest country in the world to trial a universal basic income. The new proposal, which involves 2,000 randomly chosen citizens receiving a basic amount of money for two years, could revolutionize work if proven successful, helping to prepare the world for robot automation.

“It’s highly interesting to see how it makes people behave,” Olli Kangas from government agency KELA said in a report published Tuesday . “Will this lead them to boldly experiment with different kinds of jobs? Or, as some critics claim, make them lazier with the knowledge of getting a basic income without doing […]

Full Post at www.inverse.com