Saturday, July 21, 2018

A guaranteed basic income in Chicago...

And it's something that's being proposed on the city council according to this editorial from Internation Business Daily (IBD):
Apparently not satisfied with the already disastrous condition of its finances, Chicago this week said it would like to experiment with a universal basic income, a socialist pipe-dream that pops up every few years as a "new" idea. It's not. And it will never work.

Chicago alderman Ameya Pawar has already proposed legislation that would give 1,000 families $500 a month. The bill looks like a shoo-in, garnering support already from a majority of the Windy City's lawmakers. Pawar is reportedly already working on the design of the program with Mayor Rahm Emanuel.

Chicago is the largest city yet to toy with this bad idea. There are many things that would help the working poor climb out of poverty. But a universal basic income (UBI), also called a guaranteed government income, isn't one of them.
Another city in California no less has also been flirting with the idea of a universal basic income. Where is this extra money supposed to come from? California had their own issues with finance and if you know in the above paragraph so does Chicago.

h/t Newsalert

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 Joe Zekas ran the real estate news website YoChicago . If you have been following that site and their social media channels i.e. YouTube o...