Stockton, California to give $500 in basic income to some residents

[yortsed snacilbuper]

Just 80 miles east of Silicon Valley, one of the wealthiest regions in the country, is Stockton, California — once known as America's foreclosure capital.

Soon, the former bankrupt city will become the first in the country to participate in a test of Universal Basic Income, also known as UBI. Stockton will give 100 residents $500 a month for 18 months, no strings attached.

The nontraditional system for distributing wealth guarantees that citizens receive a regular sum of money. The goal is to create an income floor no one will fall beneath.

The concept of Universal Basic Income has gained traction and support from some Silicon Valley leaders, including Elon Musk, Richard Branson and Mark Zuckerberg. It is seen as a way to possibly reduce poverty and safeguard against the job disruption that comes from automation.

link

[highmindedhavi]

1. Failed in Finnland

[ck4829]

3. Was just an "experiment"

http://www.wired.co.uk/article/finland-universal-basic-income-results-trial-cancelled

[highmindedhavi]

4. True

they should have let it go on longer.

[Hoyt]

2. Glad to see some experimentation, but not sure 100 people or $500/month will tell us much.

But, it is better than doing nothing because soon enough something is going to have to ameliorate the issues an automated economy will produce. trump is going to make it happen sooner, rather than later.

[mr_lebowski]

5. Not to nitpick, but ... yeah okay I'm going to nitpick ... Stockton is not 80 miles East of Silicon

Valley. It's 80 Miles almost exactly Northeast ... 80 Miles East ... would be like Merced. Which is about 50 miles South of Stockton.

Anyways, UBI is great idea. Along with universal HEALTH CARE.

[JustABozoOnThisBus]

6. Could an additional $500 per month reduce eligibility for Medicaid? SSDI? V.A. pension?

Some benefits programs have pretty strict limits on income/eligibility.