is Mashable s deep dive into Universal Basic Income â an idea gaining currency in a time of pandemic and mass unemployment. Now more than ever, our future depends on whether we can pay the bills.
Raise your hand for a vote: Option #1 means getting a lump of cash deposited into your bank account every month, no strings attached. Option #2 means.not getting that cash.Â
Which would you pick? We re guessing you d take the money.
Two radical concepts growing in the mainstream consciousness â universal basic income and guaranteed minimum income â represent some version of just giving people cash.Â
As political interest in cash transfers builds, it s become increasingly important to understand the differences between universal basic income and guaranteed minimum income. After all, the differences â and similarities â between the two could one day determine whether or not you re getting more stimulus-like checks in the future.Â
As requests for additional stimulus checks this year increase, the White House mentioned on Tuesday that it will be up to Congress if more payments will go out this time.
The federal government emphasized that the measure will be costly for the administration as it previously gave out a number of payments in the past.
According to Business Insider, the White House Press Secretary Jen Psaki shared that they will see what members of Congress propose. But the press secretary and Biden s political advisor emphasized that those are not free.
Moreover, Psaki touted that the revamped child tax credit is a provision that the stimulus of Biden bulked up to $3,600 per child aged five and under or $3,000 per kid between six and 17. The latest $1.8 trillion economic proposals of Biden sets that up as a child allowance that lasts through 2025.
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All the cities testing free money programs
Cities across the country are testing the waters for guaranteed income and universal basic income programs.
Image: Getty Images
2021-05-03 10:00:00 UTC
Even as the U.S. economy starts to trend upwards, the promise of Universal Basic Income (UBI) isn t being ignored. Cities across the country keep announcing new free cash programs for residents as recently as last week. This page, which we will update regularly, will help you keep track.Â
The idea gained relevance in 2020, as millions of households coped with the financial impact of the pandemic. Many cities are testing out guaranteed income programs â similar in principle to UBI, but offered to a select portion of a city s population instead of all residents.Â
Fourth or Fifth Stimulus Check Clue? Millions of Americans Are Still Suffering.
There is no doubt that Biden understands why there is that reluctance to send out more stimulus funds, but he also appears to be fully aware of the financial pain that many Americans are still enduring. And recent studies and polls are making this even harder to ignore.
Over the past couple of months, more than one hundred sixty million coronavirusstimulus checks valued at $384 billion have been disbursed to cash-strapped U.S. taxpayers under the American Rescue Plan.
And most of the data point to the fact that the U.S. economy is now on the fast lane to a full recovery, even though the pandemic hasn’t been fully contained yet.