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US California city to give 800 residents free cash in the country's largest guaranteed income program

01:00  21 october  2020
01:00  21 october  2020 Source:   usatoday.com

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In countries where people receive more social services, it seems like housing costs are higher in proportion to the amount of services that It' s unlikely they think that this pilot is fully representative of an full, guaranteed implementation. Still, it' s probably going to provide a lot of data we didn't have

This California city ' s 27-year-old mayor will give residents 0 free cash per month. Published Thu, Oct 19 20172:28 PM EDTUpdated Thu, Oct 19 20172:57 For the Economic Security Project , the pilot program will provide information about how a universal basic income can work in the United States.

The mayor of Compton announced Monday that the California city will be giving recurring cash payments to hundreds of its low-income residents starting later this year.

The pilot program, called the Compton Pledge, guarantees cash payments between $300 and $600 to a group of 800 "pre-verified" residents each month for two years and access to free banking services. The money is available for "irregularly or informally employed residents, immigrants of varied legal status, and the formerly incarcerated," according to a statement from Mayor Aja Brown.

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That a city in California has made itself a venue for the idea seems no accident. Still, it could produce a glimpse of what a guaranteed cash program might look like. The city commissioned artists to paint murals in the center of town, celebrating basic income as the next phase of the civil

Universal basic income refers to regular cash payments made to a given population (such as adult U. S . citizens, for example) with minimal or The wave of interest in UBI is also inspiring a smattering of experiments and pilot studies with UBI in the U. S . The once-bankrupt town of Stockton, California

“I know firsthand what guaranteed income could have done for my mother," Brown said. "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."

Compton Mayor, Aja Brown, poses during the Gen-Z Drive Up Voter Registration Event organized by BeWoke Vote, September 19, 2020, in Compton, California. (Photo by VALERIE MACON / AFP) (Photo by VALERIE MACON/AFP via Getty Images) ORG XMIT: 1 ORIG FILE ID: AFP_8QC67B.jpg © VALERIE MACON, AFP via Getty Images Compton Mayor, Aja Brown, poses during the Gen-Z Drive Up Voter Registration Event organized by BeWoke Vote, September 19, 2020, in Compton, California. (Photo by VALERIE MACON / AFP) (Photo by VALERIE MACON/AFP via Getty Images) ORG XMIT: 1 ORIG FILE ID: AFP_8QC67B.jpg

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Universal basic income (UBI) is a program often proposed by futurists and progressive politicians. It would provide a basic allowance for everyone in the city , state or country and could make Continue reading ->The post How Universal Basic Income (UBI) Would Work appeared first on SmartAsset Blog.

Discover all the tax- free countries in the world where you can get a second residency and increase your financial freedom . The country has no income tax and allows Australian and New Zealand citizens to become residents with great ease. Foreigners will have to jump through a few hoops and

More than 20% of Compton's 95,000 residents, who are predominantly Black and Hispanic, live in poverty, double the national average. Unemployment has risen to 21.9% since the start of the coronavirus pandemic, according to the program. The initiative is designed "to challenge the racial and economic injustice plaguing both welfare programs and economic systems."

Officials said the program's effectiveness will be evaluated every six months.

The Compton Pledge has raised more than $2.5 million in private donations and organizers hope to raise a total of $8.1 million all from private sources. Brown has partnered with dozens of community organizations, including the Fund for Guaranteed Income and the Jain Family Institute.

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Many countries dangle residency to attract foreign investors, though they require large amounts of money and the permits are difficult to obtain. Among the countries that have established such programs are Australia, Belgium, Spain, Singapore, Britain, Portugal as well as the United States.

Children’ s Health Insurance Program (CHIP) offers free or low-cost medical and dental care to uninsured kids up to age 19 whose family income is above Medicaid’ s limit but below their state’ s CHIP limit. Check back with Benefits.gov in the future to see if you’re eligible for additional benefits.

Although the program is billed as "the largest, and longest-term guaranteed income initiative in the United States," Compton is not the first city to experiment with universal basic income. 

The idea of a guaranteed income dates back to at least the 18th century and has crossed ideological and cultural lines. Former Democratic presidential candidate Andrew Yang brought the idea to the nation's attention with a plan to give cash to every American each month.

Basic income has a number of supporters around the world, including Tesla CEO Elon Musk; Sam Altman, president of startup incubator Y Combinator; and eBay Founder Pierre Omidyar. Facebook's Mark Zuckerberg praised the idea in a post about Alaska's Permanent Fund, which pools the state's oil revenue and pays out cash dividends to eligible Alaskans. 

California city gives residents $500 a month: Is this the future of progressive politics?

Stockton, California, became the first U.S. city to experiment with the idea in 2019 by giving $500 debit cards every month to 125 residents who earn less than $46,000 annually. Stockton Mayor Michael Tubbs and Brown are both part of a group of 25 mayors pushing for a national system of direct payments to vulnerable families.

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However, if you receive income evenly throughout the tax year, you may translate the foreign currency to U. S . dollars using the yearly average currency exchange rate for the tax year. If there is more than one exchange rate, use the one that applies to the facts and circumstances on a consistent basis.

Santee city income , earnings, and wages data. Estimated median house or condo value in 2017: 1,830 (it was 2, 800 in 2000). Santee According to our research of California and other state lists, there were 69 registered sex offenders living in Santee, California as of October 10, 2020.

"I look forward to seeing the data support what Mayor Brown already knows to be true of her constituents: poverty stems from a lack of cash, not a lack of character," he said in a statement.

Contributing: The Associated Press; Ashley May, USA TODAY

Follow N'dea Yancey-Bragg on Twitter: @NdeaYanceyBragg

This article originally appeared on USA TODAY: California city to give 800 residents free cash in the country's largest guaranteed income program

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