Tag: guaranteed income

Basic Income Isn’t Just About Robots, Says Mayor Who Just Launched Pilot Program

Basic Income Isn't Just About Robots, Says Mayor Who Just Launched Pilot Program

The idea of universal basic income is popular in Silicon Valley because it’s seen as a potential solution to job losses in the age of automation.

Phonlamaiphoto / Getty Images / Caroline O’Donovan The idea of basic income — in which the government gives all citizens a small monthly stipend — has grown popular in tech circles, not in the least because it’s seen as a possible solution to the looming problem of robots, artificial intelligence, and automation taking jobs away from human workers.

But when Stockton, California Mayor Michael Tubbs spoke at Cash Conference, a pro-basic income event […]

Next Year, a Californian City Will Launch the First Basic Income Experiment in the U.S.

Next Year, a Californian City Will Launch the First Basic Income Experiment in the U.S.

Stockton, California, is about to become the first city to test government-supported universal basic income in the U.S. The program is the idea of the city’s 27-year-old mayor and will be primarily funded by the basic income advocacy group Economic Security Project. No Strings Attached

The idea of a guaranteed income for all citizens regardless of their social and economic standing is called universal basic income (UBI) , and it’s been floating around for centuries. Thomas Paine wrote about it back in the 1790s, and in 1967, Martin Luther King, Jr. expressed his support for a universal basic income […]

Basic Income Isn’t Just About Robots, Says Mayor Who Just Launched Pilot Program

Basic Income Isn't Just About Robots, Says Mayor Who Just Launched Pilot Program

Phonlamaiphoto / Getty Images / Caroline O’Donovan The idea of basic income — in which the government gives all citizens a small monthly stipend — has grown popular in tech circles , not in the least because it’s seen as a possible solution to the looming problem of robots, artificial intelligence, and automation taking jobs away from human workers.

But when Stockton, California Mayor Michael Tubbs spoke at Cash Conference, a pro-basic income event held in San Francisco on Thursday, about plans to test a basic income pilot for his city, he said the program isn’t a response to encroaching […]

Stockton to pilot ‘basic income’ experiment

STOCKTON – A consortium of policy experts, researchers and academics has awarded $1 million to Stockton to fund an experiment that aims to assess the social benefits of providing a guaranteed monthly income for one or more years to a tiny segment of the city’s residents, Mayor Michael Tubbs announced Wednesday.

Tubbs said the stipends will be awarded with no strings attached. The aim will be to ease the daily strain of barely scraping by that is experienced by the one-fourth of Stockton’s population that lives below the poverty line.

The mayor unveiled the initiative, dubbed the “Stockton Economic Empowerment Demonstration,” […]

This California city’s 27-year-old mayor will give residents $500 free cash per month

This California city's 27-year-old mayor will give residents $500 free cash per month

A two-hour drive from the tech-fueled riches of San Francisco, Stockton, Calif., is a completely different world from its Silicon Valley neighbor. But the small city is taking a big bet to try to fix its lagging economy with a strategy that many of the tech elite have been largely only pontificating about: universal basic income, or cash handouts.

In 2013, Stockton became the most populous city in the United States to enter bankruptcy . The city of 300,000 was toppled when the housing bubble burst, its basic operating expenses dependent on developer fees and increasing property tax revenue that […]

City of Stockton to Consider America’s First Basic Income Grant

City of Stockton to Consider America’s First Basic Income Grant

The city of Stockton, California, is planning to offer a basic income grant of $500 per month to poor residents, making it the first U.S. city to provide a guaranteed income.

Mayor Michael Tubbs announced the program on Wednesday, according to Capital Public Radio . “This is not a handout, it’s a hand up,” he reportedly said. The program is to be privately funded by the Economic Security Project , which Capital Public Radio describes as “a network of researchers, elected leaders, and organizers” and which is run by Facebook co-founder and Barack Obama campaign veteran Chris Hughes.

Stockton declared bankruptcy […]

Next Year, a Californian City Will Launch the First Basic Income Experiment in the U.S.

Next Year, a Californian City Will Launch the First Basic Income Experiment in the U.S.

Stockton, California, is about to become the first city to test government-supported universal basic income in the U.S. The program is the idea of the city’s 27-year-old mayor and will be primarily funded by the basic income advocacy group Economic Security Project. No Strings Attached

The idea of a guaranteed income for all citizens regardless of their social and economic standing is called universal basic income (UBI) , and it’s been floating around for centuries. Thomas Paine wrote about it back in the 1790s, and in 1967, Martin Luther King, Jr. expressed his support for a universal basic income […]

City of Stockton to Consider America’s First Basic Income Grant

City of Stockton to Consider America’s First Basic Income Grant

Stockton (Max Whittaker / Reuters) The city of Stockton, California, is planning to offer a basic income grant of $500 per month to poor residents, making it the first U.S. city to provide a guaranteed income.

Mayor Michael Tubbs announced the program on Wednesday, according to Capital Public Radio . “This is not a handout, it’s a hand up,” he reportedly said. The program is to be privately funded by the Economic Security Project , which Capital Public Radio describes as “a network of researchers, elected leaders, and organizers” and which is run by Facebook co-founder and Barack Obama […]

Building security into drawdown solutions

Building security into drawdown solutions

Peter Carter, product and marketing director at Retirement Advantage, explains the importance of tailored solutions when advising on drawdown options.

Q: What is the best way for advisers to approach conversations with clients around the various at-retirement decisions? How can they balance the traditional appeal of annuities with the benefits of flexible drawdown?

A: The key, as always, is achieving balance. In 2014, George Osborne announced that there was no need for anybody to buy an annuity again. However, the truth is people like the outcome an annuity gives them, although they may also want the benefits of a […]

The Hidden Costs of Variable Annuities and How to Avoid Them

The Hidden Costs of Variable Annuities and How to Avoid Them

When people seeking guaranteed income turn to annuities, they are gaining security … but they need to realize what it’s costing them. Surrender charges, fees and earnings caps all come into play. Getty Images Annuity sales are escalating, with people looking to roll over retirement savings accounts or other assets into an ongoing income stream. Variable annuities appeal to people because they offer mutual fund investment choices, locked-in gains (or protection from bad market years) and death benefits.

While the promises of guaranteed minimum returns and regular payouts are tempting, not all offer a decent value. Many variable annuities have […]