and her husband are both out of work. They had exhausted their savings, when she received a one-time $1,000 cash infusion as part of a scheme run by Neighbourhood Trust, a financial coaching non-profit, and Humanity Forward, an organisation devoted to building support for universal basic income founded by Andrew Yang.
In May more than dozen cities, including Atlanta, Los Angeles, Newark and St Paul, along with the Economic Security Project, launched Mayors for a Guaranteed Income, a network of mayors experimenting with-like schemes. Mr Dorsey has also given money to this group. In February 2019 Stockton, California, began an 18-month experiment to give $500 to 125 randomly selected people. This is being extended for another six months to help participants weather the slump.
In Jackson, Mississippi, the Magnolia Mother’s Trust provides poor African-American mothers with $1,000 in cash monthly, no strings attached, for a year. It recently began a larger experiment with 110 participants. Hudson, a small city in upstate New York, recently announced a five-year scheme to give a monthly $500 payment to 20 people. In Newark, New Jersey, Ras Baraka, the mayor, is hoping to get a pilot programme up and running.
The proposal Mr Yang ran on would have cost $2.8trn annually, which is about what the federal government spends each year on Social Security , Medicare and Medicaid combined. Even then it would provide adults with no more than $12,000 a year—not enough to lift a workless family with two adults and two children above the federal poverty line.
A more targeted effort that did not aim to be universal could do much more on that score. Ms Smith, along with 1,000 other residents of the Bronx, received a one-off $1,000 grant from Mr Yang’s outfit. This allowed her to buy food and to restore the internet, which her 14-year-old son needed for remote learning. This helped a great deal.
When countries become poor, thinking tilts to socialism. When the same countries economically strong capitalism will rule
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