Posted on 09/21/2017 11:22:11 AM PDT by Oldeconomybuyer
Startup incubator Y Combinator is expanding their research into the benefits of universal basic income (UBI).
In a new blog post published on the company’s website this week, they reveal their plans to pick 3,000 individuals from two states at random to receive a monthly cash handout. 1,000 participants will receive $1,000 per month for a period up to five years, while the other 2,000 will receive $50 per month, serving as the control group.
Y Combinator hopes to find out how basic income can help people respond to economic instability and uncertainty, or perhaps even find alternatives to UBI that achieve the same purpose. The overarching goal of this trial is to advance the debate about the future of work.
Silicon Valley is certainly being vocal when it comes to UBI. The likes of Facebook founder Mark Zuckerberg and Tesla and SpaceX CEO Elon Musk have shared their support for the idea, along with others.
(Excerpt) Read more at futurism.com ...
They will drink it or shoot up.
Sounds like fake news. 12+ million bucks, would have to be a heck of a grant.
The $1k’ers need to give up ALL government extras for it all to work.
Prototype Communism bump for later...
All it will do is just raise the “welfare cliff” and increase the non-working adult population
I wonder how “random” it will be. They may drink it or shoot up, or might buy groceries. There is a period when people are too old to be considered for jobs and too young for social security. Can be rough years for some worthy people. But who exactly is making the payments? Let me guess......If megacorporations all chipped in...well, they’d raise prices so we’d pay the bill either way.
That’s why I think this may be fake news, that’s a lot of cash. Who is paying and why?
My guess is that when you call, someone with a Nigerian accent will need your banking information to complete the application.
Oh, boy! Beer money!
Tip money for a large segment of the population.
Please ping me when you post the article about them filing for bankruptcy in a few months.
Oh, boy!!! More cigarettes, booze, drugs and hooker money.
Wonder how much the government (state and/or federal) will take in taxes??????
And, if they are already working, it will possibly push them into a higher tax bracket. Then they have to pay more in taxes, take home from that will probably be around 6-700 dollars/mo. which will likely make them short on income tax at the end of the year and they will have to pay more......
Should be interesting
The smart ones will buy a 2 or more unit rental property, which if effectively managed can house and feed them for life.
Me! Me! Pick me! I promise the local economy will profit from increased ammo sales.
Universal guaranteed income equals Guaranteed inflation and that usually equals lowered buying power for the wage earner.
Well played sir!
So... Where can I buy stock in this company?
Sounds like a winner.
UBI from the likes of SpaceX, Y Combinator & Zuckerberg — sounds like an alphabet soup recipe for financial disaster…
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