The city of Stockton California – which filed for bankruptcy in 2012 – has decided to experiment with Universal Basic Income by cutting its citizens no-strings-attached checks for $500 a month.
Wow. The only city in the world that would actually improve by asking Venezuela for financial advice.
I eagerly await the results. My only real question is, if they can’t pay their bills now where is the money coming from?
Looks like my attempt at a long post failed so to be brief. The article only mentions a $1 million dollar grant. That translates as to this “Universal” program to fund 167 individuals for 1 year. If they mean to make the program truly “Universal” and apply it to anyone over the age of 18 in Stockton then based upon the 2010 census figures of a population slightly north of 200,000 would require 1 and a quarter BILLION dollars per year. Will they means test? Will they arbitrarily set a cut off income? Are they insane? I think only the last question can be answered.
Will they want some sort of wall to keep people from neighboring towns from showing up with their hands out?
Or will they require some sort of picture ID before handing over the checks?
Why don’t they increase the taxes on those fat cats out at the Barkley ranch just outside town?
(Call it Universal Heathcare. They should at least have their audrators look into it.)