The same thing that makes you laugh can sometimes be the same thing that make you cry.
Universal Basic Income
- Thread starter ScytheSalvation
- Start date
Will universal basic income catch on during the coronavirus pandemic?
Independent Women’s Forum policy director Hadley Heath Manning talks to FOX Business’ Jackie DeAngelis about Pittsburgh joining 15 other cities to use money from Twitter CEO Jack Dorsey to test a guaranteed income program.
If FOX News is discussing UBI....you know it's coming regardless if you think it's a bad idea.
Independent Women’s Forum policy director Hadley Heath Manning talks to FOX Business’ Jackie DeAngelis about Pittsburgh joining 15 other cities to use money from Twitter CEO Jack Dorsey to test a guaranteed income program.
If FOX News is discussing UBI....you know it's coming regardless if you think it's a bad idea.
The unemployment benefits were the beta test
Yes sir.. as soon as they said they were gonna give more than what you are supposed to get in like universal basic income...
Will most likely never happen
save yourself
save yourself
What's Next For The U.S. Economy: Robert Reich
In honor of Labor Day, our latest interview with former Secretary of Labor Robert Reich reviews how the federal government should support the new virtual economy as we battle the coronavirus pandemic. He says the economy won't fully recover until there is a vaccine and that President Trump's first term in office will not leave behind any kind of economic legacy. Watch the video to see why he thinks a universal basic income will offer more economic reliability and why we need a revival of the CARES Act.
In honor of Labor Day, our latest interview with former Secretary of Labor Robert Reich reviews how the federal government should support the new virtual economy as we battle the coronavirus pandemic. He says the economy won't fully recover until there is a vaccine and that President Trump's first term in office will not leave behind any kind of economic legacy. Watch the video to see why he thinks a universal basic income will offer more economic reliability and why we need a revival of the CARES Act.
Walmart and McDonald’s have the most workers on food stamps and Medicaid, new study shows
By Eli Rosenberg
November 18, 2020 at 6:02 PM EST
https://www.google.com/amp/s/www.wa...onalds-walmart-bernie-sanders/?outputType=amp
A sizable number of the recipients of federal aid programs such as Medicaid and food stamps are employed by some of the biggest and more profitable companies in the United States, chief among them Walmart and McDonald’s, according to a new report from Congress’s nonpartisan watchdog.
The Government Accountability Office undertook the study at the behest of Sen. Bernie Sanders (I-Vt.) to answer questions about the relationship between employers and the federal assistance programs. The report draws on February data from agencies in 11 states that administer Medicaid and the federal Supplemental Nutrition Assistance Program, better known as SNAP, or food stamps.
Walmart was one of the top four employers of SNAP and Medicaid beneficiaries in every state. McDonald’s was in the top five of employers with employees receiving federal benefits in at least nine states.
In the nine states that responded about SNAP benefits — Arkansas, Georgia, Indiana, Maine, Massachusetts, Nebraska, North Carolina, Tennessee and Washington — Walmart was found to have employed about 14,500 workers receiving the benefit, followed by McDonald’s with 8,780, according to Sanders’s team. In six states that reported Medicaid enrollees, Walmart again topped the list, with 10,350 employees, followed by McDonald’s with 4,600.
In Georgia, for example, Walmart employed an estimated 3,959 workers on Medicaid — an estimated 2.1 percent of the total of non-elderly, non-disabled people in the state receiving the benefit. McDonald’s was next on the list, employing 1,480 who received Medicaid, or 0.8 percent of the total of non-elderly, non-disabled people on the program.
In Oklahoma, 1,059 Walmart workers on Medicaid made up 2.8 percent of the state’s total and McDonald’s was next, with 536 workers, or 1.4 percent.
In Arkansas, where Walmart was founded and maintains its headquarters, 1,318 were receiving SNAP benefits — 3.1 percent of the state’s total. McDonald’s, next on the list with 865 workers, made for 2 percent of the state’s total. Another 3 percent of SNAP recipients in Georgia worked for Walmart.
The next companies with large number of workers on federal benefits include Dollar Tree, Dollar General, Amazon, Burger King and FedEx, the GAO found. (Amazon chief executive Jeff Bezos owns The Washington Post.)
In a statement sent by spokeswoman Morgan O’Marra, the company said it believed the data was taken out of context and misleading, noting that McDonald’s and Walmart account for some of the largest employers of the country.
“The average starting wage at U.S. corporate-owned restaurants is over $10 per hour and exceeds the federal minimum wage,” the statement said. “McDonald’s believes elected leaders have a responsibility to set, debate and change mandated minimum wages and does not lobby against or participate in any activities opposing raising the minimum wage.”
McDonald’s announced last year that it would stop lobbying against efforts to raise the minimum wage.
Anne Hatfield, a spokeswoman for Walmart, noted that the company was the country’s largest employer, saying that the numbers were in proportion with that.
“If not for the employment access Walmart and other companies provide, many more people would be dependent on government assistance,” she said in a statement. “A small percentage of our workforce comes to us on public assistance, and we remove employment barriers and create opportunities for individuals that too many overlook. Walmart has invested more than $5 billion in increased pay, expanded health benefits, and a debt-free college program over the past five years and our starting rate is more than 50% higher than the federal minimum wage, which Washington hasn’t changed in more than a decade. We support efforts to raise the minimum wage while we continue to make investments in our associates.”
The GAO reached out to agencies in all 50 states and the District but ended up focusing on a smaller group that provided the most reliable and verifiable data, it said.
Each agency in those states reported back the 25 most common employers of Medicaid enrollees and SNAP recipients.
Sanders accused companies such as Walmart and McDonald’s of relying on “corporate welfare from the federal government by paying their workers starvation wages.”
“That is morally obscene,” he said in a statement to The Post. “U.S. taxpayers should not be forced to subsidize some of the largest and most profitable corporations in America.”
Walmart, based in Bentonville, Ark., reported $5.1 billion in net income for the third quarter of 2020 this week, as business has surged during the pandemic.
McDonald’s reported a net income of $1.76 billion over the same period.
The numbers could not be fully explained by part-time schedules; about 70 percent of the 21 million people receiving Medicaid or SNAP benefits work full time, in general, the GAO said. Ninety percent worked in the private sector.
The data squares with other research that has explored the consequences of low wages at some of the country’s biggest corporations.
A 2013 study from the University of California at Berkeley and the University of Illinois at Urbana-Champaign found that three-quarters of people in the country’s major public benefits programs such as Medicaid and SNAP came from working families. A follow-up report two years later found that the numbers were worse for the fast-food industry, where more than half — 52 percent — of fast-food workers are in families where one or more family members relies on a public program.
The GAO data reflects some of the large-scale economic changes that have tilted economic benefits toward the wealthier segments of society, as much of the job gains over the last decade — before the pandemic — came from the service sector, while wages have failed to keep pace with productivity.
The story is partially about the minimum wage, too, which at $7.25 federally has fallen well below the amount it used to be when adjusted for inflation.
“Wages at the bottom and middle of the income spectrum have been essentially flat since the late 1970s,” said Ken Jacobs, chairman of U.C. Berkeley’s Labor Center and a co-author of both of the Berkeley reports. “As productivity has increased, pay has stayed very low, and again, our federal minimum wage is well below where it would have been if it kept up with inflation and very far where it would have been if it kept up with productivity growth. So many families earn too little to get by on what they earn from their jobs.”
There is a growing conversation about improving the plight and pay of low-wage workers, as the push for a $15 minimum wage increasingly finds support in unlikely corners such as the state of Florida, which just approved a ballot measure to raise the minimum wage, as well as the incoming Biden administration.
“There is growing evidence of serious, long-term, negative effects on families of low income,” Jacobs said. “Increasing family income has big effects on children’s educational outcome, children’s health, adults’ mental health, and crime and recidivism.”
Heather Boushey, president of the Washington Center for Equitable Growth think tank, who has been advising President-elect Joe Biden according to multiple media reports, said the story was fundamentally about taxes.
She said it shouldn’t be viewed as inherently problematic that workers relied on government programs for benefits as long as companies were paying their fair share to the government.
“The idea that we can finance access to health care through the tax system is what many other countries do,” she said. “So we shouldn’t be appalled by that, but we should make sure that everybody is paying their fair share. In some ways, it pushes us to say, ‘What’s a sufficient way to do this?’
The survey was taken right before the pandemic unfolded, and the GAO noted that conditions could have worsened for workers since.
“The economic effects of the covid-19 pandemic have further exacerbated conditions for these workers, increasing the importance of federal and state safety net programs to help them meet their basic needs,” the GAO said.
By Eli Rosenberg
November 18, 2020 at 6:02 PM EST
https://www.google.com/amp/s/www.wa...onalds-walmart-bernie-sanders/?outputType=amp
A sizable number of the recipients of federal aid programs such as Medicaid and food stamps are employed by some of the biggest and more profitable companies in the United States, chief among them Walmart and McDonald’s, according to a new report from Congress’s nonpartisan watchdog.
The Government Accountability Office undertook the study at the behest of Sen. Bernie Sanders (I-Vt.) to answer questions about the relationship between employers and the federal assistance programs. The report draws on February data from agencies in 11 states that administer Medicaid and the federal Supplemental Nutrition Assistance Program, better known as SNAP, or food stamps.
Walmart was one of the top four employers of SNAP and Medicaid beneficiaries in every state. McDonald’s was in the top five of employers with employees receiving federal benefits in at least nine states.
In the nine states that responded about SNAP benefits — Arkansas, Georgia, Indiana, Maine, Massachusetts, Nebraska, North Carolina, Tennessee and Washington — Walmart was found to have employed about 14,500 workers receiving the benefit, followed by McDonald’s with 8,780, according to Sanders’s team. In six states that reported Medicaid enrollees, Walmart again topped the list, with 10,350 employees, followed by McDonald’s with 4,600.
In Georgia, for example, Walmart employed an estimated 3,959 workers on Medicaid — an estimated 2.1 percent of the total of non-elderly, non-disabled people in the state receiving the benefit. McDonald’s was next on the list, employing 1,480 who received Medicaid, or 0.8 percent of the total of non-elderly, non-disabled people on the program.
In Oklahoma, 1,059 Walmart workers on Medicaid made up 2.8 percent of the state’s total and McDonald’s was next, with 536 workers, or 1.4 percent.
In Arkansas, where Walmart was founded and maintains its headquarters, 1,318 were receiving SNAP benefits — 3.1 percent of the state’s total. McDonald’s, next on the list with 865 workers, made for 2 percent of the state’s total. Another 3 percent of SNAP recipients in Georgia worked for Walmart.
The next companies with large number of workers on federal benefits include Dollar Tree, Dollar General, Amazon, Burger King and FedEx, the GAO found. (Amazon chief executive Jeff Bezos owns The Washington Post.)
In a statement sent by spokeswoman Morgan O’Marra, the company said it believed the data was taken out of context and misleading, noting that McDonald’s and Walmart account for some of the largest employers of the country.
“The average starting wage at U.S. corporate-owned restaurants is over $10 per hour and exceeds the federal minimum wage,” the statement said. “McDonald’s believes elected leaders have a responsibility to set, debate and change mandated minimum wages and does not lobby against or participate in any activities opposing raising the minimum wage.”
McDonald’s announced last year that it would stop lobbying against efforts to raise the minimum wage.
Anne Hatfield, a spokeswoman for Walmart, noted that the company was the country’s largest employer, saying that the numbers were in proportion with that.
“If not for the employment access Walmart and other companies provide, many more people would be dependent on government assistance,” she said in a statement. “A small percentage of our workforce comes to us on public assistance, and we remove employment barriers and create opportunities for individuals that too many overlook. Walmart has invested more than $5 billion in increased pay, expanded health benefits, and a debt-free college program over the past five years and our starting rate is more than 50% higher than the federal minimum wage, which Washington hasn’t changed in more than a decade. We support efforts to raise the minimum wage while we continue to make investments in our associates.”
The GAO reached out to agencies in all 50 states and the District but ended up focusing on a smaller group that provided the most reliable and verifiable data, it said.
Each agency in those states reported back the 25 most common employers of Medicaid enrollees and SNAP recipients.
Sanders accused companies such as Walmart and McDonald’s of relying on “corporate welfare from the federal government by paying their workers starvation wages.”
“That is morally obscene,” he said in a statement to The Post. “U.S. taxpayers should not be forced to subsidize some of the largest and most profitable corporations in America.”
Walmart, based in Bentonville, Ark., reported $5.1 billion in net income for the third quarter of 2020 this week, as business has surged during the pandemic.
McDonald’s reported a net income of $1.76 billion over the same period.
The numbers could not be fully explained by part-time schedules; about 70 percent of the 21 million people receiving Medicaid or SNAP benefits work full time, in general, the GAO said. Ninety percent worked in the private sector.
The data squares with other research that has explored the consequences of low wages at some of the country’s biggest corporations.
A 2013 study from the University of California at Berkeley and the University of Illinois at Urbana-Champaign found that three-quarters of people in the country’s major public benefits programs such as Medicaid and SNAP came from working families. A follow-up report two years later found that the numbers were worse for the fast-food industry, where more than half — 52 percent — of fast-food workers are in families where one or more family members relies on a public program.
The GAO data reflects some of the large-scale economic changes that have tilted economic benefits toward the wealthier segments of society, as much of the job gains over the last decade — before the pandemic — came from the service sector, while wages have failed to keep pace with productivity.
The story is partially about the minimum wage, too, which at $7.25 federally has fallen well below the amount it used to be when adjusted for inflation.
“Wages at the bottom and middle of the income spectrum have been essentially flat since the late 1970s,” said Ken Jacobs, chairman of U.C. Berkeley’s Labor Center and a co-author of both of the Berkeley reports. “As productivity has increased, pay has stayed very low, and again, our federal minimum wage is well below where it would have been if it kept up with inflation and very far where it would have been if it kept up with productivity growth. So many families earn too little to get by on what they earn from their jobs.”
There is a growing conversation about improving the plight and pay of low-wage workers, as the push for a $15 minimum wage increasingly finds support in unlikely corners such as the state of Florida, which just approved a ballot measure to raise the minimum wage, as well as the incoming Biden administration.
“There is growing evidence of serious, long-term, negative effects on families of low income,” Jacobs said. “Increasing family income has big effects on children’s educational outcome, children’s health, adults’ mental health, and crime and recidivism.”
Heather Boushey, president of the Washington Center for Equitable Growth think tank, who has been advising President-elect Joe Biden according to multiple media reports, said the story was fundamentally about taxes.
She said it shouldn’t be viewed as inherently problematic that workers relied on government programs for benefits as long as companies were paying their fair share to the government.
“The idea that we can finance access to health care through the tax system is what many other countries do,” she said. “So we shouldn’t be appalled by that, but we should make sure that everybody is paying their fair share. In some ways, it pushes us to say, ‘What’s a sufficient way to do this?’
The survey was taken right before the pandemic unfolded, and the GAO noted that conditions could have worsened for workers since.
“The economic effects of the covid-19 pandemic have further exacerbated conditions for these workers, increasing the importance of federal and state safety net programs to help them meet their basic needs,” the GAO said.
Compton Launches Largest Universal Basic Income Program In The Nation
Author: CBSLA Staff
October 19, 2020 at 10:43 am
COMPTON (CBSLA) — Compton is launching the nation’s largest universal basic income program, with plans to distribute regular cash payments to about 800 low-income residents for two years.
The Compton Pledge, which will be launched by the end of this year, will distribute cash relief to a pre-verified group of low-income Compton residents. Recipients will be kept anonymous and the program will be “rigorously evaluated” by an independent research team, who will report preliminary findings at six-month intervals.
Recipients will get to choose between multiple payment options, and residents who don’t have a current bank account will be provided with no-cost financial services, according to Compton city officials.
“I know firsthand what guaranteed income could have done for my mother. I’ve watched the many sacrifices she made, including walking to work to provide for my brother and I,” Compton Mayor Aja Brown said in a statement. “Like most Americans, we were one emergency away from having to move, which we did many times, if anything unplanned happened because of her restricted income and prioritizing being present for her children.”
The Compton Pledge is in partnership with the Jain Family Institute and the Fund for Guaranteed Income. According to The Compton Pledge’s fact sheet, the program has already raised upwards of $2.5 million in private donations and more in-kind support. All donations will go to the Fund for Guaranteed Income, which is led by Nika Soon-Shiong, the daughter of LA Times owner and billionaire bioscientist Patrick Soon-Shiong.
Compton, with a population of 95,000, has upwards of 1 in 5 residents living in poverty, double the nationwide average, city officials said. Local housing assistance in the city is at capacity, and 46% of its residents are renters. Since the outset of the pandemic, city officials say its unemployment rates have skyrocketed to 21.9%, and a growing segment of its population are relying on food pantries.
“People in our community are going through tough times, and I know that guaranteed income could give people a moment to navigate their situation, and have some breathing room to go back to school, explore a new career path, spend time with their children, or improve their mental and emotional wellbeing.”
A number of cities across the country are expressing more willingness to consider universal basic income, and the concept was the basis of tech entrepreneur Andrew Yang’s presidential run. The California city of Stockton launched their program last year, and Los Angeles and Long Beach exploring their own pilot programs.
Author: CBSLA Staff
October 19, 2020 at 10:43 am
COMPTON (CBSLA) — Compton is launching the nation’s largest universal basic income program, with plans to distribute regular cash payments to about 800 low-income residents for two years.
The Compton Pledge, which will be launched by the end of this year, will distribute cash relief to a pre-verified group of low-income Compton residents. Recipients will be kept anonymous and the program will be “rigorously evaluated” by an independent research team, who will report preliminary findings at six-month intervals.
Recipients will get to choose between multiple payment options, and residents who don’t have a current bank account will be provided with no-cost financial services, according to Compton city officials.
“I know firsthand what guaranteed income could have done for my mother. I’ve watched the many sacrifices she made, including walking to work to provide for my brother and I,” Compton Mayor Aja Brown said in a statement. “Like most Americans, we were one emergency away from having to move, which we did many times, if anything unplanned happened because of her restricted income and prioritizing being present for her children.”
The Compton Pledge is in partnership with the Jain Family Institute and the Fund for Guaranteed Income. According to The Compton Pledge’s fact sheet, the program has already raised upwards of $2.5 million in private donations and more in-kind support. All donations will go to the Fund for Guaranteed Income, which is led by Nika Soon-Shiong, the daughter of LA Times owner and billionaire bioscientist Patrick Soon-Shiong.
Compton, with a population of 95,000, has upwards of 1 in 5 residents living in poverty, double the nationwide average, city officials said. Local housing assistance in the city is at capacity, and 46% of its residents are renters. Since the outset of the pandemic, city officials say its unemployment rates have skyrocketed to 21.9%, and a growing segment of its population are relying on food pantries.
“People in our community are going through tough times, and I know that guaranteed income could give people a moment to navigate their situation, and have some breathing room to go back to school, explore a new career path, spend time with their children, or improve their mental and emotional wellbeing.”
A number of cities across the country are expressing more willingness to consider universal basic income, and the concept was the basis of tech entrepreneur Andrew Yang’s presidential run. The California city of Stockton launched their program last year, and Los Angeles and Long Beach exploring their own pilot programs.
Universal Basic Income experiment shows signs of success in Stockton, California
CNBC's Kate Rogers joins "The News with Shepard Smith" to report on a new study in Stockton, Calif. that shows Universal Basic Income has shown signs of success.
CNBC's Kate Rogers joins "The News with Shepard Smith" to report on a new study in Stockton, Calif. that shows Universal Basic Income has shown signs of success.
Stockton's universal basic income program pays off
Stockton, California, made headlines when it began an experiment to fight poverty by testing universal basic income: giving 125 randomly selected individuals with below-average incomes $500 each month for two years. Michael Tubbs, the former mayor of Stockton, joins CBSN to discuss the program he piloted and the impact it made on the community.
Stockton, California, made headlines when it began an experiment to fight poverty by testing universal basic income: giving 125 randomly selected individuals with below-average incomes $500 each month for two years. Michael Tubbs, the former mayor of Stockton, joins CBSN to discuss the program he piloted and the impact it made on the community.
Compton Launches Largest Universal Basic Income Program In The Nation
Author: CBSLA Staff
October 19, 2020 at 10:43 am
COMPTON (CBSLA) — Compton is launching the nation’s largest universal basic income program, with plans to distribute regular cash payments to about 800 low-income residents for two years.
The Compton Pledge, which will be launched by the end of this year, will distribute cash relief to a pre-verified group of low-income Compton residents. Recipients will be kept anonymous and the program will be “rigorously evaluated” by an independent research team, who will report preliminary findings at six-month intervals.
Recipients will get to choose between multiple payment options, and residents who don’t have a current bank account will be provided with no-cost financial services, according to Compton city officials.
“I know firsthand what guaranteed income could have done for my mother. I’ve watched the many sacrifices she made, including walking to work to provide for my brother and I,” Compton Mayor Aja Brown said in a statement. “Like most Americans, we were one emergency away from having to move, which we did many times, if anything unplanned happened because of her restricted income and prioritizing being present for her children.”
The Compton Pledge is in partnership with the Jain Family Institute and the Fund for Guaranteed Income. According to The Compton Pledge’s fact sheet, the program has already raised upwards of $2.5 million in private donations and more in-kind support. All donations will go to the Fund for Guaranteed Income, which is led by Nika Soon-Shiong, the daughter of LA Times owner and billionaire bioscientist Patrick Soon-Shiong.
Compton, with a population of 95,000, has upwards of 1 in 5 residents living in poverty, double the nationwide average, city officials said. Local housing assistance in the city is at capacity, and 46% of its residents are renters. Since the outset of the pandemic, city officials say its unemployment rates have skyrocketed to 21.9%, and a growing segment of its population are relying on food pantries.
“People in our community are going through tough times, and I know that guaranteed income could give people a moment to navigate their situation, and have some breathing room to go back to school, explore a new career path, spend time with their children, or improve their mental and emotional wellbeing.”
A number of cities across the country are expressing more willingness to consider universal basic income, and the concept was the basis of tech entrepreneur Andrew Yang’s presidential run. The California city of Stockton launched their program last year, and Los Angeles and Long Beach exploring their own pilot programs.
Now since they ran their test in that small town they getting ready for the big leagues!! This should be real interesting.. i knew would be here sooner or later, well in a bigger town/city!
What's interesting is Compton is a predominately Black/Latino city.
It shows that when you vote and put people in office that are there for your needs and interest, Govt will work for you.
covid was the national test...we ALL been on UBI for the last year,.. it's no longer theoretical.....It's FEASIBLE!
if I was andrew yang I'd be on a I TOLD YOU SO tour
Compton has 95000 citizens. This program is only for 800 people. They have raised $2.5 million.
UBI is supposed to be a supplement not a replacement
You can t have UNIVERSAL basic income and exclude ANYONE no matter how much money they make or there is a problem with the whole thing.
Have you ever taken a look at Thomas Piketty’s Capitalism in the Twenty-First Century?
I think you should take a look at the book and then pair it with The Modern Monetary Theory. However, before you do that you read a book by Trinidad and Tobago’s own Eric Williams, Capitalism and Slavery.
What is the goal of government? Should government play an active or passive role in its citizens’ life?
What about those who refused vaccinations? Can that play a part?
If covid vaccination passports become the norm but those who refuse can't work because of medical or religious or whatever reason.
I don t know if that will happen
Majority of American's are cluless that Alaska (A GOP Controlled State) has a form of UBI for its residents.
The funding primary comes from the Oil and Gas Industry.
Governor proposes $5,000 super-PFD as part of annual budget plan
Governor Mike Dunleavy is proposing 2021 Permanent Fund Dividend checks that would total $4,972 per Alaskan. Money needed to pay this would come from the Permanent Fund’s earnings reserve, the governor said in a briefing Friday, and would be in addition to an annual payment from the fund to help support the state budget.
The supersized PFD will consist of two payments, the first a supplement to a dividend for 2020 paid last June and the second a regular 2022 dividend that will be calculated according to a 1980s statute that guides how the PFD is calculated.
Despite the statute the Legislature has final authority to set the amount of the dividend and does so depending on what funds are available.
Dunleavy released details of the new PFD plan along with his state budget proposal for Fiscal Year 2022, the state financial year that begins July 1.
The budget must be submitted Dec. 15 under state law but the governor chose to release the proposal several days early.
Along with the larger PFD, which Dunleavy defends is needed to stimulate the state economy, the governor also proposed a constitutional amendment to guarantee the annual dividend; state general obligation bonds for infrastructure construction that would total between $300 million and $350 million, and a general spending plan that would cut $294 million from state programs.
Voter approval is needed for general obligation bonds, and rather than wait for the next scheduled election in 2022 Dunleavy proposed s special election to be held next spring to get money from the bond issues out quickly, assuming voters approve.
In the same election the governor would ask for an advisory vote on a plan to restructure the method of calculating the amount of the PFD so that 50% of the payment made annually from Fund earning to support the budget would go to pay for the dividend.
This would have the effect of reducing money available for budget support, but there were no estimates of amounts given. The advisory vote itself would have no legal effect but legislators will pay close attention if voters approve the change in the PFD calculation.
Actually doing it would require a bill to pass the state House and Senate.
On other issues, the governor said he will not seek further cuts in the University of Alaska budget and that state money to support the state ferry system will be maintained at near the current levels.
The $294 million in proposed reductions will come from state programs but the details of where they will occur will be spelled out in budget documents to be released separately.
Alaska Governor Mike Dunleavy (R)
The funding primary comes from the Oil and Gas Industry.
Governor proposes $5,000 super-PFD as part of annual budget plan
- By Tim Bradner
- Dec 12, 2020
Governor proposes $5,000 super-PFD as part of annual budget plan
Governor Mike Dunleavy is proposing 2021 Permanent Fund Dividend checks that would total $4,972 per Alaskan. Money needed to pay this would come from the Permanent Fund’s earnings reserve, the
www.anchoragepress.com
Governor Mike Dunleavy is proposing 2021 Permanent Fund Dividend checks that would total $4,972 per Alaskan. Money needed to pay this would come from the Permanent Fund’s earnings reserve, the governor said in a briefing Friday, and would be in addition to an annual payment from the fund to help support the state budget.
The supersized PFD will consist of two payments, the first a supplement to a dividend for 2020 paid last June and the second a regular 2022 dividend that will be calculated according to a 1980s statute that guides how the PFD is calculated.
Despite the statute the Legislature has final authority to set the amount of the dividend and does so depending on what funds are available.
Dunleavy released details of the new PFD plan along with his state budget proposal for Fiscal Year 2022, the state financial year that begins July 1.
The budget must be submitted Dec. 15 under state law but the governor chose to release the proposal several days early.
Along with the larger PFD, which Dunleavy defends is needed to stimulate the state economy, the governor also proposed a constitutional amendment to guarantee the annual dividend; state general obligation bonds for infrastructure construction that would total between $300 million and $350 million, and a general spending plan that would cut $294 million from state programs.
Voter approval is needed for general obligation bonds, and rather than wait for the next scheduled election in 2022 Dunleavy proposed s special election to be held next spring to get money from the bond issues out quickly, assuming voters approve.
In the same election the governor would ask for an advisory vote on a plan to restructure the method of calculating the amount of the PFD so that 50% of the payment made annually from Fund earning to support the budget would go to pay for the dividend.
This would have the effect of reducing money available for budget support, but there were no estimates of amounts given. The advisory vote itself would have no legal effect but legislators will pay close attention if voters approve the change in the PFD calculation.
Actually doing it would require a bill to pass the state House and Senate.
On other issues, the governor said he will not seek further cuts in the University of Alaska budget and that state money to support the state ferry system will be maintained at near the current levels.
The $294 million in proposed reductions will come from state programs but the details of where they will occur will be spelled out in budget documents to be released separately.
Alaska Governor Mike Dunleavy (R)
Majority of American's are cluless that Alaska (A GOP Controlled State) has a form of UBI for its residents.
The funding primary comes from the Oil and Gas Industry.
Governor proposes $5,000 super-PFD as part of annual budget plan
- By Tim Bradner
- Dec 12, 2020
Governor proposes $5,000 super-PFD as part of annual budget plan
Governor Mike Dunleavy is proposing 2021 Permanent Fund Dividend checks that would total $4,972 per Alaskan. Money needed to pay this would come from the Permanent Fund’s earnings reserve, thewww.anchoragepress.com
Governor Mike Dunleavy is proposing 2021 Permanent Fund Dividend checks that would total $4,972 per Alaskan. Money needed to pay this would come from the Permanent Fund’s earnings reserve, the governor said in a briefing Friday, and would be in addition to an annual payment from the fund to help support the state budget.
The supersized PFD will consist of two payments, the first a supplement to a dividend for 2020 paid last June and the second a regular 2022 dividend that will be calculated according to a 1980s statute that guides how the PFD is calculated.
Despite the statute the Legislature has final authority to set the amount of the dividend and does so depending on what funds are available.
Dunleavy released details of the new PFD plan along with his state budget proposal for Fiscal Year 2022, the state financial year that begins July 1.
The budget must be submitted Dec. 15 under state law but the governor chose to release the proposal several days early.
Along with the larger PFD, which Dunleavy defends is needed to stimulate the state economy, the governor also proposed a constitutional amendment to guarantee the annual dividend; state general obligation bonds for infrastructure construction that would total between $300 million and $350 million, and a general spending plan that would cut $294 million from state programs.
Voter approval is needed for general obligation bonds, and rather than wait for the next scheduled election in 2022 Dunleavy proposed s special election to be held next spring to get money from the bond issues out quickly, assuming voters approve.
In the same election the governor would ask for an advisory vote on a plan to restructure the method of calculating the amount of the PFD so that 50% of the payment made annually from Fund earning to support the budget would go to pay for the dividend.
This would have the effect of reducing money available for budget support, but there were no estimates of amounts given. The advisory vote itself would have no legal effect but legislators will pay close attention if voters approve the change in the PFD calculation.
Actually doing it would require a bill to pass the state House and Senate.
On other issues, the governor said he will not seek further cuts in the University of Alaska budget and that state money to support the state ferry system will be maintained at near the current levels.
The $294 million in proposed reductions will come from state programs but the details of where they will occur will be spelled out in budget documents to be released separately.
Alaska Governor Mike Dunleavy (R)
Well damn!!
I lived in Alaska for ten years. I can assure you the PFD is not UBI because every man, woman and child who was eligible received a check regardless of income or age. The biggest amount I received came from the final Palin year when she was in office. It was also the year when a gallon on gas was over $4. I've spoke with people I know who still live there. This proposal will bankrupt Alaska since oil and gas revenue is small and it'll probably cause a mass migration. Leaving the state in more of a lurch.
I was taught in Economics that the more money you put in the hands of low income and poor people the bigger the economic growth cause they will spend 100% of the UBI. the main reason we have stagnent economics in US is cause all the economic benefits goes towards the already rich and wealthy who dont spend the money.
Everywhere basic income has been tried, in one map
Which countries have experimented with basic income — and what were the results?
By Sigal Samuel Updated Oct 20, 2020, 9:50am EDT
www.vox.com
Which countries have experimented with basic income — and what were the results?
By Sigal Samuel Updated Oct 20, 2020, 9:50am EDT
Everywhere basic income has been tried, in one map
Which countries have experimented with basic income — and what were the results?
www.vox.com
This summer I'm gonna take out the time to either teach low income residents or create simple videos to show them how to trade stocks. Even if it takes me renting out a conference room at a hotel or setting up shop at the local library for a few hours. Everybody can have their phones and or computers and trade right along with me at the same time....buying when I buy....exiting when I exit....show em how to make their money work for them. And I won't charge them a dime. Show my people a life beyond living paycheck to paycheck and not having to depend on the govt for shit.
But critics worry that it will disincentivize work, cheating economies out of productivity and cheating individuals out of the sense of meaning that work can bring. Plus, they say, it’s just plain unaffordable for the government to pay every citizen enough to live on regardless of whether they work.
www.vox.com
this is essentially PLAYER HATING/MINDING SOMEONE ELSE'S BUSINESS and it's something cacs been doing in American society since DAY 1.
Literally, EVERYTHING those fuckers do is viewed thru the lens of a zero-sum game. It's the reason for all of the social divide and why class issues perpetuate particularly between the middle and poor classes. And the main types who pull that bullshit are CONSERVATIVES.
It's the reason the 2nd stimulus (yes this is STILL the second stimulus) was watered down (CONSERVATIVE Democrats) and why no republicans voted in favor of it.
CONSERVATIVES regardless of sex, color or ethnicity are the reason for every social conflict and problem in American society...conservatives perpetuate racism, sexism, homophobia, poverty, etc, etc... any negative ISM that holds anyone back or excludes or divides that you can think of...fucking conservatives are in favor of it.
How the fuck can anyone be nonwhite or female or gay and be an American conservative... KNOWING that white supremacy (and ALL that entails) is rooted in right-wing conservative politics is incredible to me.
Everywhere basic income has been tried, in one map
Which countries have experimented with basic income — and what were the results?
www.vox.com
this is essentially PLAYER HATING/MINDING SOMEONE ELSE'S BUSINESS and it's something cacs been doing in American society since DAY 1.
Literally, EVERYTHING those fuckers do is viewed thru the lens of a zero-sum game. It's the reason for all of the social divide and why class issues perpetuate particularly between the middle and poor classes. And the main types who pull that bullshit are CONSERVATIVES.
It's the reason the 2nd stimulus (yes this is STILL the second stimulus) was watered down (CONSERVATIVE Democrats) and why no republicans voted in favor of it.
CONSERVATIVES regardless of sex, color or ethnicity are the reason for every social conflict and problem in American society...conservatives perpetuate racism, sexism, homophobia, poverty, etc, etc... any negative ISM that holds anyone back or excludes or divides that you can think of...fucking conservatives are in favor of it.
How the fuck can anyone be nonwhite or female or gay and be an American conservative... KNOWING that white supremacy (and ALL that entails) is rooted in right-wing conservative politics is incredible to me.
Is this the post I link to the article that US economy short-changed itself $16 Trillion because of you know ... it’s hatred of Africans?
Elon Musk is the richest man in the world. Has he quit his job shilling a coming soon for a decade autonomous driving?But critics worry that it will disincentivize work, cheating economies out of productivity and cheating individuals out of the sense of meaning that work can bring. Plus, they say, it’s just plain unaffordable for the government to pay every citizen enough to live on regardless of whether they work.
Everywhere basic income has been tried, in one map
Which countries have experimented with basic income — and what were the results?
this is essentially PLAYER HATING/MINDING SOMEONE ELSE'S BUSINESS and it's something cacs been doing in American society since DAY 1.
Literally, EVERYTHING those fuckers do is viewed thru the lens of a zero-sum game. It's the reason for all of the social divide and why class issues perpetuate particularly between the middle and poor classes. And the main types who pull that bullshit are CONSERVATIVES.
It's the reason the 2nd stimulus (yes this is STILL the second stimulus) was watered down (CONSERVATIVE Democrats) and why no republicans voted in favor of it.
CONSERVATIVES regardless of color or ethnicity are the reason for every social conflict and problem in American society...conservatives perpetuate racism, sexism, homophobia, poverty, etc, etc... any negative ISM that holds anyone back or excludes or divides that you can think of...fucking conservatives are in favor of it.
How the fuck can anyone be nonwhite or female or gay and be an American conservative... KNOWING that white supremacy (and ALL that entails) is rooted in right-wing conservative politics is incredible to me.
Money affords you the real luxury of life: choices/freedom.
Good idea....
But you will need to go to the fundamentals of money management.
Like how to open a checking account and manage the funds going in and out. You would be surprised how many Black folks are reliant on post office money orders and check cashing joints that are all over low income Black communities. You go to your local Walmart and they all got those Moneygram’s setup in their stores to sucker poor folks out of their money.
And educate folks how to open a savings account and put a small amount every week into the account.
And educate them on what to do with their tax refund they get every year.
When I was a kid, my mother explained to me about a budget. One of the things that struck out on me is she pulled out a calendar and showed me their is a average of 4 pay weeks in a month. She explained budget your pay as if you get 4 pay checks every month thru out the year.
She then pointed out that their usually is 4 months in a year where you get 5 weekly pay checks. She explained to me act like those 5th checks in the month don’t exist and deposit them straight into your savings account. Those checks total up to a months pay at the end of the year. And also deposit your tax refund directly into your savings account.
Just simple basic shit like that, the majority of low income folks are clueless on.