<ul class="summary-list"><li>In <keyword id="216289" type="CITY" weightage="60" keywordseo="Stockton">Stockton</keyword>, <keyword id="2379" type="CITY" weightage="60" keywordseo="California">California</keyword>, 125 residents got $500 per month, no strings attached, for two years.</li><li>After a year, full-time employment among them had increased, and depression and anxiety had decreased.</li><li>The experiment ended in January but has <a href="https://www.businessinsider.com/twitter-ceo-jack-dorsey-donates-basic-income-trials-2020-12">inspired other mayors</a> to launch more basic-income pilots.</li></ul><keyword id="9956800" type="UNKNOWN" weightage="60" keywordseo="michael-tubbs">Michael Tubbs</keyword> didn't see much risk in giving money to his city's poorest residents, no strings attached. The former mayor of Stockton, a city in California's Central Valley, is a strong proponent of universal <keyword id="3376410" type="PERSON" weightage="60" keywordseo="basic-income">basic income</keyword>, a policy that essentially pays people for being alive as a way to alleviate poverty."My belief in it came from being raised by three amazing women, including my single mom," Tubbs told Insider. "The issue wasn't that they couldn't manage money. The issue was they never had enough money to manage."As mayor, Tubbs spearheaded the Stockton Economic Empowerment Demonstration, a pilot program that gave 125 residents debit cards loaded with $500 each month. The program launched in February 2019 and ended in January.Its critics argued that cash stipends would reduce the incentive for people to find jobs. But the SEED program <a href="https://www.businessinsider.com/stockton-basic-income-test-success-mayor-tubbs-2019-12">met its goal</a> of improving the quality of life of 125 residents struggling to make ends meet. To qualify for the pilot, residents had to live in a neighborhood where the median household income was the same as or lower than the city's overall, about $46,000.A new report from a team of independent researchers found that Stockton's program reduced unemployment among participants during its first year and helped many of them pay off debt. The report studied the effects of the payments from February 2019 through February 2020. SEED participants also reported improvements in their emotional well-being and decreases in anxiety or depression."It's really made a huge impact on my quality of life and being able to go do just normal things that a lot of people take for granted," one participant said in the report, "whether it's go out to eat once every two weeks and sit down for a nice dinner, or whether it's, you know, my mom's birthday and I just want to get her a birthday present."Tubbs said it was likely that the $500 monthly payments helped in other ways during the pandemic, such as tiding people over until their stimulus checks arrived or allowing them to take days off work if they got COVID-19."We know anecdotally that the $500 allowed some members of the program to stay at home and not go to work because they don't have paid time off," Tubbs said. "They were able to listen to the doctor because they knew that the two weeks off work wouldn't be catastrophic."<div type="image" title="Michael Tubbs" height="3530" width="5298" msid="81314410" hostid="261"></div><h2>Most of the money went toward food and merchandise</h2>Participants in Stockton's basic-income program spent most of their stipends on essential items. Nearly 37% of the recipients' payments went toward food, while 22% went toward sales and merchandise, such as trips to Walmart or dollar stores. Another 11% was spent on utilities, and 10% was spent on auto costs. Less than 1% of the money went toward alcohol or tobacco.By February 2020, more than half of the participants said they had enough cash to cover an unexpected expense, compared with 25% of participants at the start of the program. The portion of participants who were making payments on their debts rose to 62% from 52% during the program's first year.Unemployment among basic-income recipients dropped to 8% in February 2020 from 12% in February 2019. In the experiment's control group - those who didn't receive monthly stipends - unemployment rose to 15% from 14%.<div type="image" title="Stockton basic income recipient" height="3327" width="4177" msid="81314414" hostid="261"></div>Full-time employment among basic-income recipients rose to 40% from 28% during the program's first year. In the control group, full-time employment increased as well, though less dramatically: to 37% from 32%."Everything I thought would happen, I said would happen - I argued with Sarah Palin and Chuck Woolery and talked to 'CBS This Morning' and Bill Maher about - actually happened," Tubbs said. "I remember telling people, 'I think that $500 will allow people to work more if they choose to do so.' And that playing out in the data, it makes me so proud."The researchers also found that decreases in anxiety, depression, and extreme financial stress encouraged participants to set goals and helped them better cope with unexpected financial setbacks."I had panic attacks and anxiety," one participant said in the report. "I was at the point where I had to take a pill for it, and I haven't even touched them in a while."<h2>Basic income faces an uphill political battle</h2>Tubbs lost his reelection bid in November, but his departure didn't affect the SEED program, since it was always designed to be temporary.<div type="image" title="stockton california" height="4160" width="6240" msid="81314416" hostid="261"></div>Tubbs' vision is <a href="https://www.businessinsider.com/basic-income-stockton-could-it-work-nationally-2019-12">to make basic income a national policy</a>. In June, he launched <keyword id="6622534" type="UNKNOWN" weightage="60" keywordseo="mayors">Mayors</keyword> for a Guaranteed Income, a coalition of mayors interested in starting similar basic-income pilots across the US. At least 40 mayors, including Eric Garcetti of Los Angeles, Keisha Lance Bottoms of Atlanta, and Jenny Durkan of Seattle, have joined the group. Twitter CEO Jack Dorsey <a href="https://www.businessinsider.com/twitter-ceo-jack-dorsey-donates-basic-income-trials-2020-12">donated $18 million</a> to the cause.Inspired by Stockton's trial, Saint Paul, Minnesota, <a href="https://www.businessinsider.com/saint-paul-minnesota-basic-income-pilot-500-stipend-2020-9">started a basic-income pilot in the fall</a>, giving $500 a month to 150 low-income families for up to 18 months. Richmond, Virginia, is distributing $500 per month to 18 working families. And Compton, California, is giving 800 residents a guaranteed income of $300 to $600 a month for two years.No Republican mayor has joined Mayors for a Guaranteed Income - and interest in a basic-income policy skews heavily Democratic. Andrew Yang, a 2020 Democratic presidential candidate, made basic income a prominent part of his campaign platform, pledging to give $1,000 a month to every US citizen over 18.Tubbs said there was more than enough research to suggest that a federal basic-income policy would improve Americans' quality of life."I am so proud of all the pilots, but I'm ready for policy," Tubbs said. "I've got all the evidence I need."

A California city gave some residents $500 per month. After a year, the group wound up with more full-time jobs and less depression.

<div class="image-container"><div class="image"><img src="http://static6.businessinsider.com/image/52a9ec5a69beddd01623606c-1159-579/swiss-bank-vault.png?maxX=800" border="0" alt="Swiss Bank Vault" width="800" /><a href="http://www.jamesedition.com/extraordinaire/swiss-bank-safe-with-money-729198">JamesEdition</a></div></div> 
Ever dreamed of living like Scrooge McDuck and swimming in a pool of money?
Well, your dream could become a reality. On JamesEdition, <a href="http://www.jamesedition.com/extraordinaire/swiss-bank-safe-with-money-729198">the "truly global luxury marketplace" that's something like an eBay for the mega-rich</a>, there's a listing for a Swiss bank deposit safe full of 8 million real Swiss coins, which will supposedly moved to a location of your choice, where you can do whatever you want with it.
<iframe width="800" height="450" frameborder="0" src="//www.youtube.com/embed/51Lbo1d3KDw"></iframe>
It's an enticing idea. As Gizmodo puts it, <a href="http://sploid.gizmodo.com/holy-wow-you-can-actually-swim-like-scrooge-mcduck-in-1481547007" data-id="">"Holy wow, you can actually swim like Scrooge McDuck in this bank vault</a>," though <a href="http://www.slate.com/blogs/moneybox/2013/12/12/scrooge_mcduck_swim_swiss_bank_filled_with_gold.html">Slate acts the killjoy by pointing</a> out that swimming in 400,000 Swiss francs (roughly $450,000) "would be extremely painful at the best, and potentially life-threatening at the worst."
But what's really fascinating about the stunt is the origin of the coins and who will profit from the sale.
Back in October, a group called the 'Generation Basic Income Initiative' dumped the 15 tons of money in <a href="http://www.dailymail.co.uk/news/article-2443812/Streets-Basel-paved-gold-15-TONS-cent-coins-dumped-citys-streets-protesters-demand-increased-minimum-wage.html">front of the parliament building in Bern, the capital of Switzerland</a>.
<div class="image-container"><div class="image"><img src="http://static2.businessinsider.com/image/52a9ea4b6bb3f7f15172ac64-1200-924/bern-coins-dumped-switzerland.jpg" border="0" alt="Bern Coins Dumped Switzerland" width="800" />REUTERS/Denis Balibouse A truck dumps five cent coins in the centre of the Federal Square during a an event organised by the Committee for the initiative "CHF 2,500 monthly for everyone" (Grundeinkommen) in Bern October 4, 2013. </div></div>
The group had acquired the coins to celebrate their initiative gaining the 100,000 signatures to go to a national referendum in <keyword id="103" type="COUNTRY" weightage="60" keywordseo="Switzerland">Switzerland</keyword>'s direct democracy system. Their idea? Giving everyone in the country an <a href="http://www.businessinsider.com/behind-the-swiss-unconditional-income-iniative-2013-10">unconditional basic income of 2,500 francs ($2,800) a month</a>.
It's important to note that unconditional basic income isn't a minimum wage (which, incidentally, Switzerland doesn't have): It's far more radical. The money isn't designed to go to the needy - it goes to every adult citizen, regardless of their financial circumstances. Most Swiss political experts <a href="http://www.businessinsider.com/swiss-economic-inequality-reform-2013-11">we've spoken to don't think that the proposal could pass (it will probably be voted on in early 2016)</a>, but the idea is making waves: Even American libertarians <a href="http://www.businessinsider.com/a-libertarian-writer-shows-why-conservatives-should-support-a-guaranteed-minimum-income-2013-11">have begun debating whether</a> such a system would work in the U.S.
"A minimum wage reduces freedom - because it is an additional rule," Daniel Straub, one of the people behind <a href="http://www.businessinsider.com/behind-the-swiss-unconditional-income-iniative-2013-10">the initiative told Business Insider in October</a>. "It tries to fix a system that has been outdated for a while. It is time to partly disconnect human labor and income. We are living in a time where machines do a lot of the manual labor - that is great - we should be celebrating."
Money from the sale of the vault full of money will go to support 'Generation Basic Income Initiative,' who say <a href="http://www.dailymail.co.uk/news/article-2515520/A-safe-investment-Swiss-bank-vault-goes-sale--complete-EIGHT-MILLION-coins-worth-270-000.html">they will use the money to</a> "promote the idea of the basic income worldwide and especially in Switzerland." Thus what's real awesome about the sale of this "money swimming pool" isn't the Scrooge McDuck fantasies - it's the subversion of a "truly global luxury marketplace" to help promote a radical egalitarian idea.

There's A Radical Message Behind The Auction Of A Vault Containing 8 Million Swiss Coins

<div class="KonaFilter image-container float_right"><div class="image on-image"><img src="http://static4.businessinsider.com/image/5296443f6da81168294de48b-618-464/cash-money-hundred-bills-1.jpg?maxX=480" border="0" alt="cash money hundred bills" width="480" /><a href="http://www.flickr.com/photos/68422830@N00/120499365/">Flickr / noahwesley</a></div></div>An idea to give all Americans free money is gaining more support by the day.
The policy is pretty simple. The government would send every working age, non-incarcerated American a check every month, no strings attached. It would replace the many current government programs aimed at the poor.
Financing the program would be difficult, but not impossible, depending on the monthly benefit amount. Eliminating the current safety net programs would free up a significant amount of funding and increased taxes elsewhere could provide the remaining funds.
Conservatives are understandably concerned that giving people free money would incentivize them to forego work. But while this is certainly a risk, there are also numerous benefits that should garner conservative support.
In a piece yesterday explaining <a href="http://reason.com/archives/2013/11/26/scrap-the-welfare-state-give-people-free">why libertarians should embrace a guaranteed basic income</a>, libertarian writer Matthew Feeney outlined many of these benefits. Here's his key paragraph:
Whatever the outcome of the Swiss referendum, libertarians in the U.S. and elsewhere should support the idea of a basic income as a replacement for the current welfare systems on offer. The welfare system in the U.S. is an ineffective and expensive mess, but it is unlikely that the majority of the American public are going to be persuaded to support the outright abolition of the welfare state any time soon. Rather than make the principled argument against the redistribution of wealth, libertarians would do better if they were to argue for a welfare system that promotes personal responsibility, reduces the humiliations associated with the current system, and reduces administrative waste in government.
Conservatives don't necessarily hate the social safety net. They hate that it runs through bureaucratic government institutions that are poorly run and waste taxpayer dollars. A guaranteed minimum income for all Americans eliminates all of that bureaucracy. It gets rid of the dozens of different welfare programs that confuse low-income Americans and make the system hard to navigate.
Feeney brings up another point that the system "strips welfare recipients of their dignity while treating many of them like children." Conservatives hate the idea of the government telling them what to do. That's one of the reasons they have been so infuriated with the Affordable Care Act's minimum protection standards. They argue that consumers should be able to forego certain coverage requirements if they want. The law's requirements that insurers cover 10 basic health benefits is paternalistic, they say.
As Feeney points out, food stamps are the same way. They tell poor Americans that they can buy food, but not alcohol or tobacco, for instance. If conservatives are up in arms over Obamacare's paternalism, they should be similarly enraged by the paternalism in SNAP.
Conservatives are also rightly worried about the work effects of a guaranteed basic income, but similar distortions exist in our current welfare system thanks to the high marginal tax rates Americans face as they move up the income ladder, but their benefits fall. A basic income eliminates those high marginal tax rates as well.
An unconditional basic income would eliminate many features of government that conservatives hate most. It's time conservatives, such as <a href="http://www.businessinsider.com/paul-ryan-should-support-a-basic-income-2013-11">Rep. Paul Ryan (R-WI)</a>, supported the idea.

Why A Libertarian Writer Supports A Policy Of Giving Everyone Free Money

<div class="KonaFilter image-container float_right"><div class="image on-image"><img src="http://static1.businessinsider.com/image/524af59369bedd854240fda2-1200-924/seattle-14.jpg?maxX=480" border="0" alt="Seattle" width="480" /><a href="http://en.wikipedia.org/wiki/File:Downtown_Seattle_2.JPG">en:Kazamm / Wikimedia Commons</a></div></div>Approximately 6,300 travel and hospitality workers near the Seattle-Tacoma International Airport will soon see <a href="http://www.businessinsider.com/ballot-measure-to-enact-15-minimum-wage-near-seattle-wins-narrow-victory-2013-11">their wages increase to at least $15 per hour</a> thanks to a ballot initiative that passed by just 77 votes, with about 6,000 ballots cast.
Opponents of the measure believe it will drive businesses away and hurt the local economy. Supporters of it believe that workers deserve a much higher wage and that it will convince other nearby communities to do so as well, eliminating the incentives for businesses to locate elsewhere.
The evidence on <keyword id="562632" type="UNKNOWN" weightage="60" keywordseo="minimum-wage">minimum wage</keyword> increases is mixed and it's not yet clear what impact it will have on the economy. It's a huge increase from Washington state's current minimum wage of $9.32, but it's also confined to an area that is already attractive for businesses thanks to the local airport.
The great part about this measure is that we can learn a lot from it. It's a natural experiment to determine the effects of a major minimum wage hike. Do companies move away? Do they jack up prices? Do they cut back on labor? This ballot measure can now help us answer those questions.
This was one of the things that <a href="http://www.businessinsider.com/scott-winship-2013-11">Manhattan Institute fellow Scott Winship stressed to me in our interview</a>:
Ultimately, you can't really figure out whether something is working or not without randomized experiments. We ought to institutionalize randomized experiments within the federal government by essentially allowing waivers for pretty much anything that the federal government funds. Allow states to make all sorts of policy choices or policy changes to programs like food stamps or TANF or SSI for instance and evaluate them in a rigorous way. We ought to find what works and defund what doesn't work.
Implementing a $15 minimum wage nationally could have disastrous effects, but we really don't know what would happen. Instead of taking that risk though, we can use states and towns as labyrinths to test the idea to find out if it is effective.
That's why it's great to see this ballot measure pass. It will provide us with ample evidence for larger policy decisions.
The same can be said of Switzerland's referendum for an unconditional basic income. There are strong arguments on either side for whether this will work or not. Ultimately, we don't have enough evidence to know for sure. <a href="http://www.businessinsider.com/giving-all-americans-a-basic-income-would-end-poverty-2013-11">Implementing it in the United States</a> would be incredibly risky as it's not just a major policy change, but also an untested one. 
This is why Megan McArdle, who opposes a universal basic income, said, "<a href="http://www.bloomberg.com/news/2013-11-15/they-ll-pay-you-to-live-in-switzerland-.html">Overall, I'd really like to see Switzerland pass this, if only so we can observe the effects.</a>"
The United States cannot simply implement radical policy ideas without numerous other towns, states or countries trying them first. But that doesn't mean those radical policies wouldn't be successful in the U.S. It just means that we need other people to test them first - including other communities in the United States. That's exactly what the region near the <keyword id="64863" type="COMPANY" weightage="60" keywordseo="Seattle">Seattle</keyword> Tacoma International Airport is doing. We should be thankful for it.

You Searched For "Basic Income Gaurantee" and got 4 results

A California city gave some residents $500 per month. After a year, the group wound up with more full-time jobs and less depression.

Aria Bendix

There's A Radical Message Behind The Auction Of A Vault Containing 8 Million Swiss Coins

Adam Taylor

Why A Libertarian Writer Supports A Policy Of Giving Everyone Free Money

Danny Vinik

Here's Why It's Awesome That A Town Near Seattle Is Raising Its Minimum Wage To $15

Danny Vinik