[Ed. – Every socialist’s dream.]
Stockton, California made national news last October when it announced it would host the first US experiment in basic income, a system of wealth distribution in which people receive a standard salary just for being alive.
The plan, spearheaded by Stockton’s 27-year-old mayor, Michael Tubbs, will likely begin sometime in August 2018 and involve at least 100 people of varying income levels getting $500 a month for three years.
Ever since it declared bankruptcy in 2012, Stockton has been in recovery-mode, and Tubbs sees basic income — a growing topic of discussion around the world over the past couple years — as one way to rehabilitate the city.
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In a basic income system, participants get a fixed amount of money that they can use however they want. Early research has shown that people in basic income experiments typically don’t spend this money on vices or vacations; instead, they use it to pay for things like home repairs, school expenses, and the costs of starting new businesses.