Lightfoot stalled universal basic income pilot to use it as budget sweetener, former floor leader says

Lightfoot stalled universal basic income pilot to use it as budget sweetener, former floor leader says

Ald. Gilbert Villegas (36th) told the Chicago Sun-Times that a universal basic income pilot program could have been launched months ago, but Mayor Lori Lightfoot delayed it so she include it in her proposed 2022 budget. Mayor Lori Lightfoot was accused Thursday of blocking an alderman’s universal basic income proposal only to commandeer the idea and use the $31.5 million test program to sweeten the pot of her 2022 budget.

Ald. Gilbert Villegas (36th), chairman of the City Council’s Hispanic Caucus, said 5,000 of Chicago’s neediest families would have been collecting $500 monthly checks since spring if only Lightfoot hadn’t […]

4th stimulus check update – $500 stimulus check being sent NOW as California continues to deposit $600 cash

4th stimulus check update – $500 stimulus check being sent NOW as California continues to deposit $600 cash

AMERICAN families with adult children aged between 18 and 24 years old can qualify for a $500 one-time stimulus check.

Parents with 18-year-old dependents who are being cared for can qualify for a maximum of $500 each toward the child tax credit they’d receive.

Dependents aged between 19 and 24 years old must be attending college full-time to also qualify for $500.The payment will come when families file taxes for 2021 at the start of next year, according to CNET .It comes as Californians earning less than $75,000 can expect to receive a $600 check in the coming weeks.About two million […]

How Universal Basic Income Can Help Build a Solidarity Economy

How Universal Basic Income Can Help Build a Solidarity Economy

UNTITLED, FROM THE SERIES “CAPITALISM IS KILLING US/BLACK UTOPIAS” BY AISHA SHILLINGFORD/ WWW.INTELLIGENTMISCHIEF.COM Click here to download this article as it appears in the magazine, with accompanying artwork.

Editors’ Note: This article comes from the Summer 2021 edition of the Nonprofit Quarterly, “The World We Want: In Search of New Economic Paradigms.”

I am now convinced that the simplest approach will prove to be the most effective—the solution to poverty is to abolish it directly by a now widely discussed measure: the guaranteed income. —Martin Luther King, Jr. 1 At a time when humankind and the global […]

Can You Take All Your Pension at Once?

Tom Selby: Can you take all your pension savings out at once? I’m sure that’s something that lots of people will be thinking about. It depends on the type of pension you have. So the state pension pays an income when you reach state pension age, and there’s no mechanism to cash out that fund. So you just receive the income that you’d get from the state. Defined contribution pensions where your retirement pot is invested in things like stocks, shares and bonds can be accessed from age 55, with a quarter of the money available tax free, and […]

Mayor: City’s guaranteed-income program would be biggest in U.S.

Mayor: City's guaranteed-income program would be biggest in U.S.

One of Mayor Lori Lightfoot’s most unique budget proposals for spending close to $2 billion in federal COVID relief is a cash assistance program that would provide $500 per month for up 5,000 families for 12 months.

Who would be eligible is subject to debate within the City Council, but if the idea passed, it would be the biggest cash assistance program in the country, Lightfoot estimates. “In particular, we want to make sure we’re looking at households that have been deeply impacted by COVID-19 but also ones that won’t otherwise be served by other resources,” the mayor told Crain’s. […]

Universal Minimum Income: The whole world talks about it (and experiences it), this is Susidistan

Universal Minimum Income: The whole world talks about it (and experiences it), this is Susidistan

Universal Minimum Income: The whole world talks about it (and The two Mateos (Renzi and Salvini) return yesterday to jeopardize the citizenship’s income, which they assure will be destroyed immediately. Glasgow, Scotland, also started yesterday on the 22nd world congress of universal income This is an opportunity to show that the basic income question is not a frivolous game, but a global issue. And it is no coincidence that the Scottish Premier sent a message calling for the Scottish appointment, all online Nicola Sturgeon, Supporter of an income project.

Scotland. The Congress will run till August 21 and will […]

City staff says Evanston is still taking a revenue hit due to COVID-19 but expenses remain on track

The Evanston City Council saw a presentation of the midyear financial report last week as some revenues remain down due to the COVID-19 pandemic.

Hitesh Desai, chief financial officer and treasurer for the city of Evanston, showed council members which revenues and expenses are on track for the remainder of the year and which areas need improvement.

The presentation demonstrated that revenue tied to economic activity in the general fund was still on track even as some activity-related revenues remain low. Expenses remain on target for the city’s 2021 goals.“The return of Northwestern students and the football season brings a lot […]

Tunisia: half of Tunisian population has no social coverage (ILO)

Tunisia: half of Tunisian population has no social coverage (ILO)

Despite the allocation of 7.5% of the Tunisian Gross Domestic Product (GDP) to social protection, only 50.2% of the population has social coverage, leaving nearly half without a guarantee in case of illness, maternity or cessation of professional activity.

The share of Tunisian affiliates to social funds is above the world average (46.9%), Arab countries (40%) and African (17.4%), according to the World Social Protection Report 2020-2022 of the International Labor Organization (ILO).

However, in terms of the share of GDP devoted to social protection, Tunisia is ranked 3rd in Africa and 5th in the Middle East and North Africa (MENA) […]

Boomers Face This Risk in Retirement: Here’s How To Avoid It

Boomers Face This Risk in Retirement: Here’s How To Avoid It

Boomers stand to draw down on their retirement savings faster because of their reliance on defined contribution plans. Baby boomers seem to be overestimating how long their retirement savings will last — or maybe underestimating how long they’ll live. New research from the Center for Retirement Research at Boston College found that Boomers may be drawing down their retirement wealth faster than previous generations, because they lack the widespread access to pensions that older generations enjoyed. Using data from the University of Michigan’s Health and Retirement Study, CRR researchers determined the more annuitized resources retirees have at their disposal, […]

72% of Americans Support Some Form of Universal Basic Income (UBI)

72% of Americans Support Some Form of Universal Basic Income (UBI)

Talk of universal basic income (UBI) in the U.S. remains in the news nearly a year after a presidential election and amid a global pandemic. Though measures like economic impact payments (stimulus checks) and advance child tax credits have been compared to UBI, a federally guaranteed income program in the U.S. seems far off.

Americans widely support the idea, though. MagnifyMoney researchers surveyed 2,050 U.S. consumers, finding that 72% support some form of UBI, with most hoping the payments would go to certain groups of people rather than all adults. TABLE OF CONTENTS

Key findings At least 7 in 10 […]