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California's 'foreclosure capital' to give away $500 a month to residents in experimental welfare program
"Stockton, California is set to become the first city in the nation to embark on an experiment of Universal Basic Income, paying 100 residents $500 a month without any conditions.
The program’s purpose is to eventually ensure that no one in the city of 300,000 people lives in poverty. The receivers of the cash will be able to spend the money on anything they want without any strings attached.
It will launch by 2019 and the 100 fortunate residents will receive the cash for a full 18-months as part of its testing phase before deciding whether to roll it across whole Stockton.
The city, which was once known as America's foreclosure capital, has recently fallen on hard times, with one-in-four residents living below the poverty line and the median household income is nearly $8,000 lower than the national median."
Read more
"Stockton, California is set to become the first city in the nation to embark on an experiment of Universal Basic Income, paying 100 residents $500 a month without any conditions.
The program’s purpose is to eventually ensure that no one in the city of 300,000 people lives in poverty. The receivers of the cash will be able to spend the money on anything they want without any strings attached.
It will launch by 2019 and the 100 fortunate residents will receive the cash for a full 18-months as part of its testing phase before deciding whether to roll it across whole Stockton.
The city, which was once known as America's foreclosure capital, has recently fallen on hard times, with one-in-four residents living below the poverty line and the median household income is nearly $8,000 lower than the national median."
Read more
