Universal Basic Income 2022 update – Deadline to apply revealed as program sends out $17,000 in guaranteed cash

History of Universal Basic Income

In a literal sense, the UBI’s intellectual history dates back around half a century. However, throughout the last two centuries, the concept that the government should somehow subsidize everyone’s profits has resurfaced as a:

• Citizen’s dividend
• Social credit
• National dividend
• Demogrant (a grant based on a population’s demographics)
• Negative income tax
• Mincome (also called guaranteed minimum income)

Few of these plans fulfill the traditional concept of a basic income, and they are vastly different from one another. They do, however, have something in common.

Labor force may decrease with UBI

Earned income motivates people to work, succeed, collaborate with others, and learn new skills.

According to Charles Wyplosz, PhD, Professor of International Economics at the Graduate Institute in Geneva, “if we pay people, unconditionally, to do nothing… they will do nothing,” resulting in a less functional economy.

How to apply for UBI programs?

People may apply to UBI programs via their state or city government websites.

Big promises in Florida, continued

Cherfilus-McCormick’s universal basic income proposal has faced many critics and opponents.

On this, according to RollCall.com, she said: “Any change that we’ve ever had, it started somewhere. In the beginning, they always say that it’s unfeasible.

“These kinds of programs are being [passed] all around the country. Once we realize that we have so many people in our district who cannot afford to pay their rent, who cannot afford to pay for the electricity or survive right now because of the effects of COVID-19, then we realize how realistic it is.

“On top of that, if we see how much we’ve been able to erode childhood poverty through the child tax credit, we see that all these things are feasible.

“But without the will or the want to, it’s always going to be impossible, because you don’t want to do it,” she concluded.

Big promises in Florida

Sheila Cherfilus-McCormick, a Democrat, won a special election in January in Florida’s 20th District to replace the late Rep Alcee L. Hastings.

Cherfilus-McCormick ran a largely self-financed campaign promising universal basic income from the government of $1,000 per month to people making $75,000 or less.

Which countries have UBI?

A universal basic income is being tested in a number of towns, states, and countries in addition to the US.

Some of those are:

• Canada
• Finland
• Kenya
• Scotland
• Taiwan
• Macau
• Namibia
• Hong Kong
• Netherlands
• Germany
• Iran
• Brazil
• India
• China

Does UBI work?

Smaller-scale UBI implementation studies and pilot projects have been done in various areas across Africa, Asia, and North America, demonstrating the favorable effects of guaranteed income and UBI.

Why UBI?

Guaranteed income systems oriented to certain income levels cannot overcome the deficiencies in public assistance and other benefits that a universal, unconditional cash transfer system can.

Here are reasons why there should be UBI programs country-wide:

• If programs are exclusively targeted at low-income families and not the general community, they will deteriorate with time.
• Universal systems have the potential to assist everyone; but, because people’s circumstances fluctuate, it’s hard to tell who needs them based on a single number or moment in time.
• Means testing involves a significant amount of administrative time and money; UBI would be significantly more cost-effective.

History of Universal Basic Income

In a literal sense, the UBI’s intellectual history dates back around half a century. However, throughout the last two centuries, the concept that the government should somehow subsidize everyone’s profits has resurfaced as a:

• Citizen’s dividend
• Social credit
• National dividend
• Demogrant (a grant based on a population’s demographics)
• Negative income tax
• Mincome (also called guaranteed minimum income)

Few of these plans fulfill the traditional concept of a basic income, and they are vastly different from one another. They do, however, have something in common.

Cons of UBI

According to ProCon.org, the top three cons of Universal Basic Income are:

• UBI deprives the poor of much-needed tailored assistance by taking money from them and giving it to everyone
• It’s too expensive
• UBI reduces the motivation to work, causing an economic downturn and a labor and skills deficit

Pros of UBI

According to ProCon.org, the top three pros of Universal Basic Income are:

• UBI enhances physical and mental health while reducing poverty and financial inequality
• UBI results in increased employment growth and a reduction in school dropout rates
• UBI provides a source of income for non-working parents and carers, empowering women in historically unpaid jobs

Places with UBI in the US

At the moment, at least 36 cities and states are promising to assist Americans with their financial difficulties.

The initiatives are usually handled by local governments, and some are paying out as much as $12,000.

Stiped for students, part three

“We said, ‘Here are the numbers. What ideas do you have to address the crisis around inequality … and racialized wealth inequality, income inequality?’” Myers-Lipton said.

Myers-Lipton had not anticipated the outcome of Cortese’s September Zoom call—a pilot program to support low-income students by providing them with monthly state aid payments of $500.

The program is based on UBI plans, which have gained popularity in recent years and are utilized by municipalities and other government organizations to combat persistent poverty and economic inequality.

Stipend for students, continued

He discovered more than 4,000 students at the institution had experienced homelessness in the year before the survey when he co-authored the 2020 Silicon Valley Pain Index, a yearly assessment on income and racial inequality in the surrounding area, per InsideHigherEd.com

Because they couldn’t afford food, half of the students polled said they ate smaller quantities or skipped meals entirely.

Something had to be done, according to Myers-Lipton and William Armaline, co-author of the study and head of the university’s Human Rights Institute.

They sought assistance from local, state, and federal legislators.

The researchers scheduled a meeting with Dave Cortese, a state senator from California whose district includes San José.

Stipend for students

A California lawmaker wants to provide $500 monthly stipends to thousands of low-income students to help them get by, according to InsideHigherEd.com.

The concept is based on UBI initiatives.

Students were constantly suffering financially, and others were sleeping in their cars, “scared out of their minds” about their safety, according to Scott Myers-Lipton, a sociology professor at San José State University.

Others slept at the university library or the student union building at night.

UBI in South Korea

According to academic research, South Korea might be the first country in the world to adopt a concrete UBI program at the national level.

Lee Jae-myung, the presidential candidate of the ruling Liberal Democratic Party, has promised to implement a universal basic income as well as categorical basic incomes for young and rural populations.

Lee’s plan to fund a UBI using taxes on land holdings and carbon emissions, in particular, has sparked political debate.

What is the American Rescue Plan?

Biden’s emergency legislative package included funding for immunizations, urgent and direct help for families affected by the Covid-19 issue, and community support.

The president’s strategy included establishing a nationwide immunization campaign, containing Covid-19, and reopening schools securely.

To combat the spread of the virus, the initiative established community immunization stations around the country, increased testing and tracking, and provided paid sick leave, among other things.

The bill also addressed the required investments to accomplish Biden’s objective of reopening a majority of K-8 schools in a safe and timely manner during his first 100 days in office.

What is In Her Hands?

A new guaranteed income program in Georgia will offer $850 per month for at least two years to more than 600 Black women across the state, according to a community-based nonprofit implementing the program.

According to the Georgia Resilience & Opportunity Pool (GRO Fund), the initiative, dubbed In Her Hands, would disburse funds from a total fund of more than $13million.

Martin Luther King Jr advocated for UBI, continued

King Jr said in a 1967 speech: “The dignity of the individual will flourish when the decisions concerning his life are in his own hands, when he has the assurance that his income is stable and certain, and when he knows that he has the means to seek self-improvement.”

Martin Luther King Jr advocated for UBI

Dr. Martin Luther King Jr, the legendary civil rights crusader, grew up and preached in Atlanta’s Old Fourth Ward.

Soon, the same community will host a new guaranteed income experiment named after him.

Over the next two years, the initiative will offer more than $13million in transfers to 650 Black women in that community and other Georgia suburbs and rural areas.

Its name, In Her Hands, was inspired by a remark by Martin Luther King.

Bitcoin and UBI to solve income inequality, continued

It’s worth noting that Dorsey’s Start Small project has spent over $55million in experiments on universal basic income in the United States and abroad.

According to Dorsey, the use of fiat money causes a slew of problems, which he feels Bitcoin’s core structure may help solve.

“Obscurity of information forces and incentivizes people to negative [financial] behaviors that don’t work for them, their community or family,” said Dorsey, pointing out that current centralized systems are not in favor of disadvantaged communities.

Bitcoin and UBI to solve income inequality

Former Twitter CEO Jack Dorsey has suggested the prospect of ending poverty with a Bitcoin-powered UBI plan.

Dorsey discussed how Bitcoin-based UBI has the ability to alleviate income inequality with US congressional candidate Aarika Rhodes in a recent Twitter space discussion.

Welsh care leavers getting UBI

Every 18-year-old considered a care leaver will be offered £1,600 a month for two years under a Welsh government UBI pilot, according to the BBC.

A care leaver in the United Kingdom is an adult who has spent time in foster or residential care but is leaving at the age of 18.

Android app for crypto-based UBI

GoodDollar, a community-driven and non-profit blockchain network, has released its native Android app, the latest addition to its lengthy list of plans for 2022.

Since its test release in December, the newly released software has been downloaded by more than 27,000 people.

The GoodDollar team published the GoodDollar V2 update in December 2021 to offer more functionality to its V1 protocol.

The V2 update was a huge success in terms of giving its worldwide community all of the tools they need to guarantee that its crypto-based universal basic income continues to be delivered to everyone.

$500 to Minessota low-income families, continued

The initial phase of the initiative gave $500 per month for 18 months to 150 households.

The money was intended to assist families to supplement their income while also giving them autonomy over the decisions they made with the funding.