‘Rs 6,000 Per Year is Just an Election Ploy’: Mandsaur Farmers

‘Rs 6,000 Per Year is Just an Election Ploy’: Mandsaur Farmers

What do the farmers in Mandsaur want? Farm loan waivers? A basic annual income? Or that they be paid the right minimum support price (MSP) for their produce? The Quint ’s ‘Chaupal’ reached Mandsaur to find out the answers to these questions.

Some claimed that the announcement of Rs 6,000 per month by the Modi government in the interim Budget 2019 as an annual help to the farmers is just an election ploy.

Others said while the amount is small, providing an annual help will support the small farmers. “I think it’s a good move to provide a guaranteed income to […]

Universal Basic Income has Failed in Theory and in Reality

Universal Basic Income has Failed in Theory and in Reality

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Universal Basic Income is economically bankrupt policy. In theory, it spikes price inflation, costs too much and eliminates the incentive to work. A new study from Finland has proven the theory behind this. Finland gave 2,000 unemployed individuals a UBI amounting to $634 per month, and these individuals were no more likely to pursue employment than those who were on the current welfare system. Universal Basic Income Has Destructive Effects

While the study indicates that the unemployed […]

RRSP-to-RRIF conversion deadline needn’t be so scary, experts advise

RRSP-to-RRIF conversion deadline needn't be so scary, experts advise

CALGARY — For Canadians who’ve made faithful contributions to an RRSP for most of their working lives, converting it to an RRIF may seem a terrifying milestone.

Overnight, your nest egg that has steadily grown for decades becomes a declining asset, with a government-mandated, taxable annual minimum withdrawal to ensure its gradual depletion.

Retired investors might decide they need to make big changes to the investment mix in their registered retirement savings plan (RRSP) to brace for the feared impact of its conversion to a registered retirement income fund (RRIF).At that time, it’s best to take a deep breath, talk to […]

The Stupid Idea That Will Not Die: Universal Basic Income Might Come to Chicago

The Stupid Idea That Will Not Die: Universal Basic Income Might Come to Chicago

A Chicago task force dedicated to studying economic inequality released on Thursday its recommendation to explore a guaranteed income pilot and expand the Earned Income Tax Credit. The recommendations were included in a 50-page report filled with data about stagnant wages and growing income inequality and highlighting personal stories of Chicagoans struggling to make ends meet despite working multiple jobs and sticking to strict budgets. According to the task force, these proposals would put additional money in the pockets of low- and middle-income families to keep them above water financially. Guaranteed income, often called universal basic income, is the […]

Jack Mintz: A guaranteed basic income sounds great — until you see the details

Jack Mintz: A guaranteed basic income sounds great — until you see the details

Cash alone isn’t a panacea for helping all low-income families. Facebook’s Mark Zuckerberg along with other captains of Silicon Valley industry have called for a guaranteed basic income to help families once robots and artificial intelligence start throwing scores of workers out of their jobs. Those more familiar with history might advise avoiding such doom and gloom predictions: undoubtedly, technology will displace some jobs, but innovation has always ultimately led to more jobs, not fewer. The bigger problem is trying to shift laid off workers into new occupations rather than leaving them idle and living off a minimum government […]

Why did Finland’s universal basic income test fail?

Why did Finland’s universal basic income test fail?

It was nearly a year ago when the Finnish government announced that it was scrapping its basic income pilot project (SEE: Finland scraps basic income program, Ontario moves ahead with pilot project). It was a sudden move after officials wanted to experiment for a few years.

Everyone was kept in the dark as to what happened, why the universal basic income (UBI) test of giving 600 euros ($700) per month failed, and if it really benefits society as its proponents suggest.

Now we know the results.Finland’s Social Insurance Institution (FSII) published the data of the two-year pilot project. The main discovery […]

Michael Taft: What Finland’s Universal Basic Income Experiment Can Tell Us

Michael Taft: What Finland’s Universal Basic Income Experiment Can Tell Us

From top: Finland’s two-year basic income trial failed to encourage its participants to work more but it did improve their wellbeing; Michael Taft

In 2017 the Finnish Government launched a two-year experiment in Universal Basic Income (UBI).

Two thousand unemployed people were selected at random and paid an unconditional €560 per month (though, in the complex Finish social protection system, they still retained social assistance, housing and sickness allowance).Even if they found work they continued to receive the €560 per month – as per the nature of UBI. The experiment is over and an initial report published . The two […]

Russell Lynch: Finnish flop shows free money for all is no magic recipe to kick-start economic growth

Russell Lynch: Finnish flop shows free money for all is no magic recipe to kick-start economic growth

Helsinki from the water: Finland gave people free money but the project was a failure What’s not to like about free money, especially if it’s touted as the cure for society’s ills? But if something sounds too good to be true, then it usually is.

Finland has just spent two years proving that point, with a limited experiment into universal basic income (UBI) closely monitored by other countries.

Some 2000 unemployed Finns were chosen at random to receive €560 (£500) a month from the state instead of their usual benefits. If they got a job, they kept the state’s money regardless.The […]

This Presidential Candidate Wants to Give Every Adult $1,000 a Month

This Presidential Candidate Wants to Give Every Adult $1,000 a Month

Andrew Yang’s presidential platform is idiosyncratic. He’d like to fine companies that harass you with robocalls, force the NCAA to pay its college athletes, modernize voting so you can cast ballots from your cell phone and create a system that ensures Americans have an income of at least $1,000 a month.

But it’s that last idea that has drawn some surprising support.

Before Yang, a graduate of Brown University and Columbia Law School, entered the crowded 2020 playing field, the 44-year-old was the founder and CEO of Venture for America — a fellowship program for recent college graduates that places them […]

Democrat 2020 Presidential Candidate Gives Away Money to Push ‘Universal Basic Income’

Democrat 2020 Presidential Candidate Gives Away Money to Push ‘Universal Basic Income’

Net Worth In this June 15, 2018 photo, cash is fanned out from a wallet in North Andover, Mass. On Thursday, Aug. 20, the Federal Reserve reports on household wealth for the April June quarter. (AP Photo/Elise Amendola) A Democrat 2020 presidential hopeful is trying to promote his plan for a “universal basic income” by giving away cold, hard cash to potential primary voters in Iowa and New Hampshire.

Andrew Yang, a New York City entrepreneur and longshot presidential candidate seeking the 2020 Democratic presidential nomination, said he’s giving away the money as a way to push universal basic […]