Stockton California Will Be First US City to Offer “Free” Basic Income to the Poor

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The city of Stockton, California will be the first city in the US to offer a basic income to poor residents, an estimated 25 to 75 families at present, in the amount of $500 per month. It is certain, however, that, when word spreads of the new program, the number of “poor” will dramatically rise. Stockton recovered in 2015 from a bankruptcy that it declared in 2012 was due to pension costs and a 15-year spending binge. -GEG

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 in 2012, a result of high pension costs, economic stagnation, and “a 15-year spending binge.” Though the city and its finances have recovered somewhat, and the city emerged from bankruptcy in 2015, poverty remains a problem.

The idea of a guaranteed basic income has been gaining traction lately, largely thanks to the advocacy of Facebook founder and CEO Mark Zuckerberg, who has suggested it may become necessary in the future as technological innovation pushes more people out of traditional jobs.

“We should explore ideas like universal basic income to make sure everyone has a cushion to try new ideas,” Zuckerberg said in May at the commencement ceremony at Harvard University.

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Lorey
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Lorey

I’m at a loss for words here, but I’m reminded of 2 quotes:
The first one is anonymous: “Stupidity is far more fascinating than intelligence. After all, intelligence has it’s limits.”
The other one is from Voltaire: “The only way to comprehend what mathematicians mean by Infinity is to contemplate the extent of human stupidity.”

abinico warez
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abinico warez

Zuck wants to make sure people have at least enough money to buy the crap he sells.