Posted on 07/13/2018 9:08:16 PM PDT by upchuck
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Just 80 miles east of Silicon Valley, one of the wealthiest regions in the country, is Stockton, California — once known as America's foreclosure capital. Soon, the former bankrupt city will become the first in the country to participate in a test of Universal Basic Income, also known as UBI. Stockton will give 100 residents $500 a month for 18 months, no strings attached.
The nontraditional system for distributing wealth guarantees that citizens receive a regular sum of money. The goal is to create an income floor no one will fall beneath.
The concept of Universal Basic Income has gained traction and support from some Silicon Valley leaders, including Elon Musk, Richard Branson and Mark Zuckerberg. It is seen as a way to possibly reduce poverty and safeguard against the job disruption that comes from automation.
"We should explore ideas like universal basic income to make sure that everyone has a cushion to try new ideas," Zuckerberg said at a Harvard commencement address in May 2017.
The Stockton project has its roots in Silicon Valley, too. Its financial backers include Facebook cofounder Chris Hughes' organization, the Economic Security Project — a fund to support research and cultural engagement around Universal Basic Income. It contributed $1 million to the Stockton initiative.
(Excerpt) Read more at money.cnn.com ...
They should also give 500 hugs and smiley faces away each month. Because money doesn’t buy happiness
Best way to attract illegals, homeless, entitled breeds
BUMP
Money for nothing.
Best way to drive up taxes, Crime, drugs and crash properly values.
Finland ends universal basic income experiment Telegraph ^ | 4-23-2018 | James Crisp
Corrections, insights welcome.
UBI is a stepping stone to Communist tyranny and a failed state. “From each according to his abilities (law abiding, taxpaying workers) to each according to his needs (layabouts, welfare queens, social safety net abusers — think Lobster Boy).”
One most strongly suspects that actual "citizens" will not likely be the beneficiaries of the foolish free money; however, hard working "citizens" will be expected to underwrite the collectivist flim-flam.
Among the unexpected (ha ha) consequences? Stockton is about to welcome an incoming human horde of homeless, hepatitis-harboring hand-out seekers (and a proportional exodus of genuine "citizens".)
Apparently, just one bankruptcy isn’t enough for Stockton ... BTW, do you have to be a resident of Stockton to get this free money, because if not, where do i sign up?
You can be sure those 100 will be illegals, unwed mothers, and long term unemployables.
“Just 80 miles east of Silicon Valley, one of the wealthiest regions in the country, is Stockton, California”
It used to be a very nice place. That is until the Mexican gangs took over. Now they have a 27 year-old Black Stanford Grad for a Mayor. What could go wrong? Stockton has already been in Chapter 9 Bankruptcy once. The Bankruptcy Court told them they could give their PE pensions a haircut (which was definitely needed), but somehow, they managed to exit bankruptcy without touching them. So now we have a Black idiot as the “new mayor,” so I just wonder when they will be back in bankruptcy again?
“You can be sure those 100 will be illegals, unwed mothers, and long term unemployables.”
The original proposal was to pay those who were inclined to kill people public money on the promise that they would refrain from doing any killing!
“Soon, the former bankrupt city will ....”
Go bankrupt again.
L
As of the last census Stockton had over 300,000 residents.
L
It’ll go for booze and drugs.
Socialism works great until you run out of “Other Peoples Money.” Then the hard reality of economics bites you in the ass like a rabid bulldog. Economics is what collapsed the old Soviet Union and Regan’s military buildup. They tried to compete but their socialistic economy could not and then collapsed. As the old Soviet Union was dependent on oil exports with the help of Saudi Arabia flooding the market with cheap oil they became an economic disaster and failed.
Next year the United States will become the largest producer of oil in the world due to fracking. Trump is pursuing the same tactic as Reagan. It worked before and will work again. We are also today the largest producer of natural gas. We export it in the form of LNG to Europe as we have far more than we can use.
There is no need to fight Russia on a field of battle as we can destroy them economically. Russia could well collapse as did the old Soviet Union if our supposed European allies work with us.
The old saying in the Soviet Union was, “They pretend to pay us and we pretend to work.” Their currency was worthless.
But you gotta live in Stockton.
bet they’re going to not be wipepo.....
The mayor looks like a real genius. He’s doing something that requires great courage, taking money from taxpayers and giving it to losers. Then you have the mayor of Lancaster banning neckties. The inmates are running the asylum.
Non citizrns without ID too? Lets all apply. Jk. How did they get out of bankruptcy?
What if i just identify as a stocton resident?
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