KTLA -Residents of Stockton, California have been through a lot: from widespread foreclosures to the city going bankrupt. But for a handful of residents, some help is here.
One hundred Stockton residents started getting monthly payment of $500. They’ll receive the extra money for 18 months as part of an experiment testing the impact of universal basic income, also known as UBI.
The goal of UBI is to reduce poverty and inequality by giving people a regular minimal income. It’s gained support from billionaires such as Elon Musk, Richard Branson and Mark Zuckerberg.
The Stockton project is a collaboration between Stockton Mayor Michael Tubbs and the Economic Security Project, an organization that advocates for basic income. Its fund contributed $1 million to the Stockton project.
In the Stockton project, the 100 recipients will be able to spend the money how they choose with no strings attached. Researchers will be able to see what categories people spend the most in but not the actual purchases they make. The money will be distributed via pre-paid debit cards.
No comments:
Post a Comment