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In an audacious experiment, Finland is giving some residents a “basic income” of $16,000 for two years, no strings attached. Here’s what two of them did with the money.
There it is again, in a 1796 pamphlet by American political theorist Thomas Paine, who argued for the creation of a “national fund” out of which “every person, rich or poor” would receive £15 once he or she turned 21 and £10 every year thereafter. Earth’s resources were supposed to be available to everyone, Paine argued [..]
I believe this is the first attempt to directly create a "Basic income" system. I would suspect that funding will be in short supply, especially on a larger scale (even their entire population is 1/10th of ours for instance) and that many other programs/initiatives would have to be cut in order to make this financially workable. I think there would also be a risk of inflation and monetary devaluation
The purpose of the study is to find new ways to improve the current system, including making it more efficient. The study, which has been referred to as "a universal basic income experiment," has as a primary goal, incentivizing going back to work; some in the present government believe that the current system serves as a disincentive to look for work. Finland's unemployment rate is a whopping 9.5%, about twice the rate in the United States (which currently sits around 5.0%).
An additional consideration is the total economic impact of making monthly payments to all adults. From an expense perspective, the current government believes that it might save a considerable amount of money by reducing the types of benefits offered to its citizens and replacing it with a fixed amount. The current bureaucracy is expensive because of all of the moving parts.
originally posted by: slapjacks
"A government big enough to give you everything you want is a government big enough to take away everything that you have."
originally posted by: JBurns
For example, where is the motivation to work if you know you still have a check coming? Will everyone get this equally?